SouthState Corp Trims Stock Position in Bassett Furniture Industries, Incorporated (NASDAQ:BSET)

SouthState Corp trimmed its stake in Bassett Furniture Industries, Incorporated (NASDAQ:BSET) by 25.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,087 shares of the company’s stock after selling 3,465 shares during the period. SouthState Corp owned 0.11% of Bassett Furniture Industries worth $140,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Barclays PLC raised its stake in Bassett Furniture Industries by 51.9% in the third quarter. Barclays PLC now owns 10,124 shares of the company’s stock worth $146,000 after buying an additional 3,459 shares in the last quarter. FourThought Financial Partners LLC purchased a new position in shares of Bassett Furniture Industries during the 4th quarter worth approximately $180,000. Finally, Empowered Funds LLC raised its position in shares of Bassett Furniture Industries by 5.0% in the 3rd quarter. Empowered Funds LLC now owns 25,419 shares of the company’s stock worth $367,000 after acquiring an additional 1,206 shares in the last quarter. Institutional investors own 54.40% of the company’s stock.

Bassett Furniture Industries Price Performance

Shares of Bassett Furniture Industries stock opened at $15.53 on Tuesday. Bassett Furniture Industries, Incorporated has a 1 year low of $12.11 and a 1 year high of $16.20. The firm has a market cap of $136.48 million, a price-to-earnings ratio of -14.12, a PEG ratio of 1.29 and a beta of 1.62. The company has a 50-day moving average of $14.70 and a 200 day moving average of $14.47.

Bassett Furniture Industries (NASDAQ:BSET) last released its earnings results on Wednesday, January 29th. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.33. Bassett Furniture Industries had a negative net margin of 2.94% and a negative return on equity of 2.44%. On average, equities analysts anticipate that Bassett Furniture Industries, Incorporated will post 0.75 EPS for the current year.

Bassett Furniture Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, May 16th. This represents a $0.80 dividend on an annualized basis and a yield of 5.15%. Bassett Furniture Industries’s dividend payout ratio is currently -72.73%.

Wall Street Analysts Forecast Growth

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

About Bassett Furniture Industries

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.