Flexsteel Industries, Inc. (NASDAQ:FLXS) Short Interest Update

Flexsteel Industries, Inc. (NASDAQ:FLXS) was the target of a large drop in short interest in November. As of November 15th, there was short interest totalling 74,000 shares, a drop of 6.6% from the October 31st total of 79,200 shares. Currently, 2.1% of the shares of the stock are short sold. Based on an average daily volume of 29,900 shares, the days-to-cover ratio is presently 2.5 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Flexsteel Industries from a “hold” rating to a “buy” rating in a report on Wednesday, August 21st.

Flexsteel Industries Price Performance

FLXS traded up $1.40 during midday trading on Tuesday, reaching $62.12. 30,726 shares of the company’s stock were exchanged, compared to its average volume of 31,803. Flexsteel Industries has a 1-year low of $17.00 and a 1-year high of $63.00. The stock has a market capitalization of $323.65 million, a PE ratio of 24.55, a P/E/G ratio of 1.56 and a beta of 0.40. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.84 and a quick ratio of 1.04. The business’s 50-day moving average price is $52.16 and its 200 day moving average price is $41.90.

Flexsteel Industries (NASDAQ:FLXS) last issued its quarterly earnings data on Monday, October 21st. The company reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.12. The firm had revenue of $104.01 million during the quarter, compared to the consensus estimate of $101.60 million. Flexsteel Industries had a return on equity of 10.09% and a net margin of 3.30%. During the same period in the previous year, the firm posted $0.14 EPS. As a group, equities analysts anticipate that Flexsteel Industries will post 3.25 EPS for the current fiscal year.

Flexsteel Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Wednesday, September 25th were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Wednesday, September 25th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.09%. This is a positive change from Flexsteel Industries’s previous quarterly dividend of $0.15. Flexsteel Industries’s dividend payout ratio (DPR) is presently 26.88%.

Institutional Trading of Flexsteel Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC boosted its stake in shares of Flexsteel Industries by 8.3% during the 2nd quarter. Acadian Asset Management LLC now owns 12,694 shares of the company’s stock worth $393,000 after purchasing an additional 968 shares during the last quarter. Barclays PLC grew its stake in Flexsteel Industries by 20.9% in the 3rd quarter. Barclays PLC now owns 6,147 shares of the company’s stock worth $273,000 after acquiring an additional 1,061 shares during the period. Empowered Funds LLC raised its holdings in Flexsteel Industries by 5.1% in the 3rd quarter. Empowered Funds LLC now owns 22,048 shares of the company’s stock valued at $977,000 after acquiring an additional 1,072 shares during the last quarter. Marion Wealth Management lifted its stake in shares of Flexsteel Industries by 3.6% during the 3rd quarter. Marion Wealth Management now owns 31,660 shares of the company’s stock worth $1,402,000 after purchasing an additional 1,101 shares during the period. Finally, MetLife Investment Management LLC lifted its stake in shares of Flexsteel Industries by 129.0% during the 3rd quarter. MetLife Investment Management LLC now owns 2,746 shares of the company’s stock worth $122,000 after purchasing an additional 1,547 shares during the period. Hedge funds and other institutional investors own 36.27% of the company’s stock.

Flexsteel Industries Company Profile

Flexsteel Industries, Inc, together with its subsidiaries, operates as a manufacturer, importer, and markets of upholstered furniture for residential and contract markets in the United States. It provides upholstered furniture, such as sofas, loveseats, chairs, reclining rocking chairs, swivel rockers, sofa beds, convertible bedding units, occasional tables, desks, dining tables and chairs, kitchen storage, bedroom furniture, and outdoor furniture.