SouthState Corp Sells 3,465 Shares of Bassett Furniture Industries, Incorporated (NASDAQ:BSET)

SouthState Corp trimmed its holdings in Bassett Furniture Industries, Incorporated (NASDAQ:BSET) by 25.6% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 10,087 shares of the company’s stock after selling 3,465 shares during the quarter. SouthState Corp’s holdings in Bassett Furniture Industries were worth $140,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of BSET. Barclays PLC grew its stake in shares of 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 acquiring an additional 3,459 shares during the period. FourThought Financial Partners LLC bought a new stake in Bassett Furniture Industries in the 4th quarter worth approximately $180,000. Finally, Empowered Funds LLC raised its stake in Bassett Furniture Industries by 4.5% during the 4th quarter. Empowered Funds LLC now owns 26,554 shares of the company’s stock valued at $367,000 after buying an additional 1,135 shares during the last quarter. Hedge funds and other institutional investors own 54.40% of the company’s stock.

Bassett Furniture Industries Stock Up 2.9 %

Bassett Furniture Industries stock opened at $15.53 on Tuesday. The business has a 50-day simple moving average of $14.70 and a two-hundred day simple moving average of $14.47. Bassett Furniture Industries, Incorporated has a 52-week low of $12.11 and a 52-week high of $16.20. The company has a market cap of $136.48 million, a P/E ratio of -14.12, a P/E/G ratio of 1.29 and a beta of 1.62.

Bassett Furniture Industries (NASDAQ:BSET) last announced its earnings results on Wednesday, January 29th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates 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%. Research analysts anticipate that Bassett Furniture Industries, Incorporated will post 0.75 EPS for the current fiscal year.

Bassett Furniture Industries Announces Dividend

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

Wall Street Analyst Weigh In

Separately, StockNews.com raised Bassett Furniture Industries from a “hold” rating to a “buy” rating in a report 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.