Hsbc Holdings PLC Purchases New Stake in Bassett Furniture Industries, Incorporated $BSET

Hsbc Holdings PLC purchased a new stake in Bassett Furniture Industries, Incorporated (NASDAQ:BSET) during the second quarter, HoldingsChannel reports. The firm purchased 26,693 shares of the company’s stock, valued at approximately $485,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BSET. Aegis Financial Corp increased its holdings in shares of Bassett Furniture Industries by 5.2% in the first quarter. Aegis Financial Corp now owns 526,997 shares of the company’s stock valued at $7,457,000 after purchasing an additional 25,878 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Bassett Furniture Industries by 4.0% during the 1st quarter. Renaissance Technologies LLC now owns 304,161 shares of the company’s stock worth $4,304,000 after buying an additional 11,700 shares during the period. Geode Capital Management LLC grew its stake in Bassett Furniture Industries by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 195,368 shares of the company’s stock valued at $3,275,000 after buying an additional 2,796 shares during the last quarter. BlackRock Inc. bought a new position in Bassett Furniture Industries in the 2nd quarter valued at about $3,032,000. Finally, State Street Corp raised its holdings in Bassett Furniture Industries by 5.8% in the 4th quarter. State Street Corp now owns 119,643 shares of the company’s stock valued at $2,005,000 after acquiring an additional 6,558 shares during the period. 54.40% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

BSET has been the subject of a number of research analyst reports. Wall Street Zen upgraded Bassett Furniture Industries from a “sell” rating to a “hold” rating in a report on Saturday, June 20th. Zacks Research raised Bassett Furniture Industries from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 7th. Finally, Weiss Ratings upgraded Bassett Furniture Industries from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, July 14th. Two research analysts have rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Bassett Furniture Industries presently has an average rating of “Buy”.

Bassett Furniture Industries Stock Up 1.3%

Shares of Bassett Furniture Industries stock opened at $18.87 on Thursday. The stock has a market capitalization of $163.41 million, a price-to-earnings ratio of 29.48, a price-to-earnings-growth ratio of 1.31 and a beta of 0.77. Bassett Furniture Industries, Incorporated has a twelve month low of $13.17 and a twelve month high of $22.26. The company has a 50-day simple moving average of $19.58 and a two-hundred day simple moving average of $16.39.

Bassett Furniture Industries (NASDAQ:BSET) last announced its earnings results on Wednesday, July 1st. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04. Bassett Furniture Industries had a net margin of 1.65% and a return on equity of 3.56%. The firm had revenue of $83.75 million for the quarter, compared to analyst estimates of $83.32 million. During the same quarter in the prior year, the business posted $0.22 EPS. On average, sell-side analysts anticipate that Bassett Furniture Industries, Incorporated will post 0.89 earnings per share for the current fiscal year.

Bassett Furniture Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Investors of record on Friday, August 14th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, August 14th. This represents a $0.80 dividend on an annualized basis and a yield of 4.2%. Bassett Furniture Industries’s dividend payout ratio is currently 125.00%.

Bassett Furniture Industries Profile

Bassett Furniture Industries, Inc (NASDAQ: BSET), headquartered in Bassett, Virginia, is a vertically integrated manufacturer and retailer of residential home furnishings. The company designs, produces and markets a range of furniture items, including upholstered seating, wood case goods, bedroom collections, dining room sets and home décor accessories. Bassett is known for its emphasis on craftsmanship, offering both ready-to-assemble pieces and made-to-order products that cater to varying design preferences and space requirements.

Bassett’s products are sold through a dual-channel distribution network comprising company-owned Bassett Home Furnishings stores, a franchise and independent dealer network, and an e-commerce platform that provides online shopping, virtual design consultations and customization tools.