Thomson Horstmann & Bryant Inc. lessened its position in shares of Bassett Furniture Industries Inc. (NASDAQ:BSET) by 10.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 328,011 shares of the company’s stock after selling 37,785 shares during the period. Thomson Horstmann & Bryant Inc. owned about 3.08% of Bassett Furniture Industries worth $6,970,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in BSET. Wells Fargo & Company MN raised its holdings in shares of Bassett Furniture Industries by 10.0% during the 1st quarter. Wells Fargo & Company MN now owns 19,421 shares of the company’s stock worth $589,000 after acquiring an additional 1,772 shares during the period. Alps Advisors Inc. purchased a new stake in Bassett Furniture Industries in the 2nd quarter valued at about $227,000. South State Corp purchased a new stake in Bassett Furniture Industries in the 2nd quarter valued at about $552,000. Bank of New York Mellon Corp raised its holdings in Bassett Furniture Industries by 10.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 120,774 shares of the company’s stock valued at $3,327,000 after buying an additional 11,911 shares during the period. Finally, Strs Ohio raised its holdings in Bassett Furniture Industries by 25.2% in the 2nd quarter. Strs Ohio now owns 26,800 shares of the company’s stock valued at $738,000 after buying an additional 5,400 shares during the period. Hedge funds and other institutional investors own 73.72% of the company’s stock.

BSET has been the topic of several research analyst reports. Stifel Nicolaus reduced their price objective on shares of Bassett Furniture Industries from $29.00 to $21.00 and set a “hold” rating on the stock in a report on Friday, September 28th. Zacks Investment Research lowered shares of Bassett Furniture Industries from a “hold” rating to a “sell” rating in a report on Friday, August 31st. BidaskClub upgraded shares of Bassett Furniture Industries from a “strong sell” rating to a “sell” rating in a report on Thursday, August 23rd. Finally, ValuEngine upgraded shares of Bassett Furniture Industries from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 31st. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $33.00.

Shares of BSET opened at $19.66 on Wednesday. The stock has a market capitalization of $209.58 million, a P/E ratio of 12.44 and a beta of 0.89. Bassett Furniture Industries Inc. has a 12-month low of $18.86 and a 12-month high of $40.30.

Bassett Furniture Industries (NASDAQ:BSET) last issued its quarterly earnings data on Thursday, September 27th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.14). The company had revenue of $112.96 million during the quarter. Bassett Furniture Industries had a net margin of 2.47% and a return on equity of 7.07%. As a group, equities analysts predict that Bassett Furniture Industries Inc. will post 1.19 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 23rd. Investors of record on Friday, November 9th will be issued a $0.125 dividend. The ex-dividend date is Thursday, November 8th. This represents a $0.50 annualized dividend and a yield of 2.54%. Bassett Furniture Industries’s dividend payout ratio (DPR) is currently 31.65%.

In other news, Director John R. Belk bought 3,306 shares of the company’s stock in a transaction on Thursday, October 4th. The stock was bought at an average cost of $20.99 per share, with a total value of $69,392.94. Following the transaction, the director now directly owns 16,109 shares in the company, valued at approximately $338,127.91. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director John R. Belk bought 15,000 shares of the company’s stock in a transaction on Friday, October 12th. The stock was purchased at an average cost of $20.99 per share, with a total value of $314,850.00. Following the completion of the transaction, the director now owns 16,109 shares in the company, valued at $338,127.91. The disclosure for this purchase can be found here. 6.00% of the stock is currently owned by insiders.

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Bassett Furniture Industries Profile

Bassett Furniture Industries, Incorporated manufactures, markets, and retails home furnishings in the United States. The company operates in three segments: Wholesale, Retail, and Logistical Services. It is involved in the design, manufacture, sourcing, sale, and distribution of furniture products to a network of company-owned and licensee-owned Bassett Home Furnishings (BHF) retail stores, as well as independent furniture retailers; and wood and upholstery operations.

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Institutional Ownership by Quarter for Bassett Furniture Industries (NASDAQ:BSET)

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