Short Interest in Flexsteel Industries, Inc. (NASDAQ:FLXS) Decreases By 7.6%

Flexsteel Industries, Inc. (NASDAQ:FLXS) saw a large decrease in short interest in the month of March. As of March 31st, there was short interest totalling 23,100 shares, a decrease of 7.6% from the March 15th total of 25,000 shares. Approximately 0.7% of the company’s stock are short sold. Based on an average daily volume of 32,400 shares, the short-interest ratio is currently 0.7 days.

Institutional Investors Weigh In On Flexsteel Industries

Large investors have recently added to or reduced their stakes in the stock. Barclays PLC bought a new stake in Flexsteel Industries during the third quarter worth approximately $40,000. Marion Wealth Management boosted its position in Flexsteel Industries by 4.4% during the third quarter. Marion Wealth Management now owns 27,858 shares of the company’s stock worth $578,000 after purchasing an additional 1,184 shares during the period. Trexquant Investment LP bought a new stake in Flexsteel Industries during the third quarter worth approximately $183,000. Vanguard Group Inc. boosted its position in Flexsteel Industries by 2.2% during the third quarter. Vanguard Group Inc. now owns 243,811 shares of the company’s stock worth $3,828,000 after purchasing an additional 5,362 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in Flexsteel Industries by 12.5% during the third quarter. Price T Rowe Associates Inc. MD now owns 12,600 shares of the company’s stock worth $198,000 after purchasing an additional 1,400 shares during the period. Institutional investors own 36.27% of the company’s stock.

Flexsteel Industries Stock Up 0.5 %

NASDAQ:FLXS traded up $0.20 during mid-day trading on Wednesday, reaching $38.75. The stock had a trading volume of 6,632 shares, compared to its average volume of 30,438. The business’s 50 day moving average is $35.70 and its 200 day moving average is $25.73. Flexsteel Industries has a fifty-two week low of $15.67 and a fifty-two week high of $41.64. The stock has a market cap of $199.56 million, a P/E ratio of 13.29, a PEG ratio of 1.64 and a beta of 0.53. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.07 and a quick ratio of 0.90.

Flexsteel Industries (NASDAQ:FLXS) last released its quarterly earnings data on Monday, February 5th. The company reported $0.57 EPS for the quarter, hitting analysts’ consensus estimates of $0.57. Flexsteel Industries had a return on equity of 5.13% and a net margin of 3.86%. The firm had revenue of $100.11 million for the quarter, compared to the consensus estimate of $100.09 million. As a group, sell-side analysts predict that Flexsteel Industries will post 1.95 earnings per share for the current year.

Flexsteel Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Tuesday, March 26th were given a dividend of $0.15 per share. The ex-dividend date was Monday, March 25th. This represents a $0.60 dividend on an annualized basis and a yield of 1.55%. Flexsteel Industries’s payout ratio is currently 20.69%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on FLXS shares. TheStreet upgraded Flexsteel Industries from a “c” rating to a “b-” rating in a report on Monday, February 5th. StockNews.com downgraded Flexsteel Industries from a “buy” rating to a “hold” rating in a report on Wednesday.

About Flexsteel Industries

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.