Bank of New York Mellon Corp Lowers Stock Holdings in Bassett Furniture Industries, Incorporated (NASDAQ:BSET)

Bank of New York Mellon Corp reduced its position in Bassett Furniture Industries, Incorporated (NASDAQ:BSET) by 68.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,291 shares of the company’s stock after selling 53,727 shares during the quarter. Bank of New York Mellon Corp owned 0.28% of Bassett Furniture Industries worth $336,000 at the end of the most recent quarter.

Separately, Barclays PLC grew its stake in shares of Bassett Furniture Industries by 51.9% during the third quarter. Barclays PLC now owns 10,124 shares of the company’s stock valued at $146,000 after buying an additional 3,459 shares during the last quarter. Hedge funds and other institutional investors own 54.40% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com raised Bassett Furniture Industries from a “hold” rating to a “buy” rating in a research note on Friday, January 31st.

Bassett Furniture Industries Trading Down 0.3 %

Bassett Furniture Industries stock opened at $15.71 on Friday. The firm has a market cap of $138.06 million, a P/E ratio of -14.28, a P/E/G ratio of 1.29 and a beta of 1.62. Bassett Furniture Industries, Incorporated has a 1-year low of $12.11 and a 1-year high of $16.20. The firm has a 50-day moving average of $15.04 and a 200-day moving average of $14.59.

Bassett Furniture Industries (NASDAQ:BSET) last issued its quarterly earnings data on Wednesday, January 29th. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.33. Bassett Furniture Industries had a negative return on equity of 2.44% and a negative net margin of 2.94%. Research analysts forecast that Bassett Furniture Industries, Incorporated will post 0.75 earnings per share for the current fiscal year.

Bassett Furniture Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $0.80 annualized dividend and a yield of 5.09%. Bassett Furniture Industries’s dividend payout ratio (DPR) is presently -72.73%.

Bassett Furniture Industries Profile

Bassett Furniture Industries, Incorporated, together with its subsidiaries, manufactures, markets, and retails home furnishings in the United States and internationally. It operates in three segments: Wholesale, Retail Company-Owned Stores, and Corporate and Other. The company engages in the design, manufacture, sourcing, sale, and distribution of furniture products, including dining, bedroom and bedding, home decorations, rugs, and outdoor furniture to a network of company-owned retail stores, licensee-owned stores, and independent retailers.