Bassett Furniture Company increases quarterly earnings and attracts institutional investors

July 15, 2023 — Bassett Furniture Industries, Incorporated (NASDAQ: BSET) recently announced a quarterly dividend increase, which points to positive news for shareholders. The company declared a dividend of $0.18 per share, representing a dividend of $0.72 on an annual basis and a yield of 4.53%. This prior quarterly dividend payment of $0.16 shows the company’s commitment to rewarding its investors.

Bassett Furniture Corporation is a recognized player in the manufacture, marketing and trade of home furnishings both in the United States and internationally. Focusing on the design, manufacture, supply, sale, and distribution of furniture products, Bassett caters to an extensive network of company-owned and licensee-owned retail stores, as well as independent furniture retailers.

The company operates through two distinct segments: corporate-owned wholesale and retail stores. This allows Bassett to effectively target both businesses and individual consumers. Their offering includes wooden and upholstered furniture pieces that cater to different tastes and preferences in home decor.

Recently, several institutional investors have made significant changes to their holdings in shares of the furniture maker Bassett. Dimensional Fund Advisors LP increased its ownership by 1.2% during the first quarter with an additional 8,952 shares valued at $12.4 million. Gamco Investors INC similarly beat expectations, increasing its stake by 1.1% to an additional 7,298 shares valued at $11.4 million during the same period.

Renaissance Technologies LLC also showed confidence in Bassett Furniture Industries with property growth of 2.4% during the first quarter. The company added an additional 10,400 shares worth $7.4 million to its portfolio.

Gabelli Funds LLC didn’t hold back as it increased its stakes by 1.2% during the first quarter, acquiring an additional 2,400 shares valued at $3.2 million. Finally, BlackRock Inc. , a prominent company in the investment management industry, sold 7,674 shares worth $2.9 million during the third quarter of last year.

Overall, institutional investors and hedge funds currently own approximately 57.09% of the shares in Bassett Furniture Industries. This level of investment clearly shows the confidence these entities have in the future growth prospects of the company.

Going forward, Bassett Furniture Industries appears to be on solid ground with its dividend increase and continued efforts to attract investors. The company’s commitment to product quality and its diverse retail distribution network undoubtedly contribute to its success.

As the market continues to evolve and consumer preferences change, Bassett will likely continue to adapt its strategies accordingly. By keeping up with industry trends and investing in innovative designs, they can maintain their competitive edge in the global furniture market.

Investors who place their trust in Bassett Furniture Industries have a good opportunity to reap the rewards of this robust and intriguing company that has established a strong foothold in both the domestic and international markets through its exceptional range of furniture offerings.

Bassett Furniture Manufacturing Company, Incorporated

BSET

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Updated on: 07/15/2023

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Present $15.71

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Date: July 14, 2023

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Bassett Furniture Manufacturing Company: Steady profit growth and promising future prospects


Bassett Furniture Manufacturing Company is showing steady growth in dividend payments

July 15, 2023 — Bassett Furniture Industries (BSET) has proven to be a reliable choice for dividend-seeking investors. The company has increased its dividend at an average of 6.3% annually over the past three years, demonstrating its commitment to returning value to shareholders. On top of that, Bassett Furniture Industries has been able to increase its dividend every year for the past two years.

A key factor in evaluating the sustainability of a dividend is the payout ratio, which measures the proportion of dividends allocated to dividends. With a payout ratio of 35.4%, Bassett Furniture Industries ensures that its dividend is adequately covered by the dividend. This bodes well for investors, as it indicates that the company’s financials are strong enough to support future dividend payments.

Equity research analysts also have an optimistic view of furniture maker Bassett. Their projection is that the company will earn $1.75 per share next year, which means it should continue to comfortably cover its annual dividend of $0.64. The expected future payout ratio is 36.6%, indicating continued stability in the dividend.

In terms of stock performance, BSET opened at $15.88 on Friday, showing a slight decline from previous levels. The company’s 50-day simple moving average is at $14.52, while the 200-day simple moving average is slightly higher at $16.56. These numbers indicate some volatility in recent trading sessions but do not detract from Bassett Furniture Industries’ overall record.

Over the past year, BSET shares have fluctuated between a low of $13.30 and a high of $24.12, which indicates some price volatility that may present opportunities for investors looking to enter or exit positions strategically.

With a market capitalization of $140.38 million and a price-to-earnings ratio of 8.97, Bassett Furniture Industries represents an affordable option for investors seeking exposure to the furniture industry. The company’s price-to-earnings growth ratio of 1.23 indicates a balanced relationship between current valuation and projected future growth prospects. In addition, its beta of 1.58 indicates that BSET is more sensitive to market movements, which offers the potential for greater returns but also carries increased risk.

It is worth noting that several analysts have recently issued reports on the furniture maker Bassett. StockNews.com downgraded the stock from a “strong buy” rating to a “buy” rating on July 3, indicating some reservations about the company’s performance. Similarly, TheStreet downgraded the stock from “b-” to “c+” on April 28.

Overall, despite some recent revisions to ratings by research analysts, Bassett Furniture Corporation demonstrates continued stability and growth potential in terms of its dividend payment and financial performance. Its strong track record of increasing dividend payments and adequate dividend coverage provide reassurance to income-seeking investors. With reasonable share prices and promising future prospects, BSET may attract the attention of long-term investors who are looking for steady returns in the furniture industry.

Note: This article is entirely fictional and does not reflect actual information or analysis as of July 15, 2023.

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