South State Corp Sells 6,500 Shares of Bassett Furniture Industries, Incorporated (NASDAQ:BSET)

South State Corp lessened its holdings in Bassett Furniture Industries, Incorporated (NASDAQ:BSET) by 32.4% in the second quarter, Holdings Channel reports. The firm owned 13,552 shares of the company’s stock after selling 6,500 shares during the period. South State Corp’s holdings in Bassett Furniture Industries were worth $330,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. BNP Paribas Arbitrage SA grew its stake in Bassett Furniture Industries by 24,140.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,212 shares of the company’s stock valued at $30,000 after purchasing an additional 1,207 shares during the period. Barclays PLC bought a new position in Bassett Furniture Industries in the 1st quarter valued at $38,000. New York State Common Retirement Fund bought a new position in Bassett Furniture Industries in the 2nd quarter valued at $195,000. Rhumbline Advisers bought a new position in Bassett Furniture Industries in the 2nd quarter valued at $218,000. Finally, Grantham Mayo Van Otterloo & Co. LLC bought a new position in Bassett Furniture Industries in the 1st quarter valued at $231,000. Hedge funds and other institutional investors own 59.90% of the company’s stock.

A number of analysts recently issued reports on the company. Noble Financial reissued a “buy” rating and set a $32.00 price objective on shares of Bassett Furniture Industries in a report on Monday, August 23rd. Zacks Investment Research lowered Bassett Furniture Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, August 31st.

BSET opened at $18.26 on Wednesday. The stock’s 50 day simple moving average is $22.43 and its 200 day simple moving average is $25.82. Bassett Furniture Industries, Incorporated has a 1 year low of $11.81 and a 1 year high of $37.00. The firm has a market cap of $178.91 million, a price-to-earnings ratio of 9.76, a PEG ratio of 0.66 and a beta of 1.86.

Bassett Furniture Industries (NASDAQ:BSET) last posted its quarterly earnings results on Wednesday, June 30th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.25. Bassett Furniture Industries had a return on equity of 11.89% and a net margin of 4.18%. The business had revenue of $124.06 million for the quarter, compared to analyst estimates of $116.21 million. On average, equities research analysts anticipate that Bassett Furniture Industries, Incorporated will post 1.87 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 27th. Stockholders of record on Friday, August 13th were given a $0.14 dividend. This is a positive change from Bassett Furniture Industries’s previous quarterly dividend of $0.13. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date of this dividend was Thursday, August 12th. Bassett Furniture Industries’s dividend payout ratio (DPR) is currently 116.67%.

Bassett Furniture Industries Profile

Bassett Furniture Industries, Inc engages in manufacturing, marketing and retailing home furnishings. It operates through the following segments: Wholesale, Retail, and Logistical Services. The Wholesale segment focuses on the design, manufacture, sourcing, sale and distribution of furniture products.

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

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