Flexsteel Industries, Inc. (NASDAQ:FLXS) Short Interest Up 48.7% in June

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Flexsteel Industries, Inc. (NASDAQ:FLXS) saw a significant increase in short interest in June. As of June 30th, there was short interest totalling 73,600 shares, an increase of 48.7% from the May 30th total of 49,500 shares. Currently, 1.0% of the company’s stock are short sold. Based on an average daily volume of 26,100 shares, the days-to-cover ratio is currently 2.8 days.

A number of research analysts have commented on FLXS shares. ValuEngine upgraded Alleghany from a “hold” rating to a “buy” rating in a research note on Friday, April 19th. TheStreet cut UDR from a “b” rating to a “c” rating in a research note on Tuesday, April 30th.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. James Investment Research Inc. increased its position in shares of Flexsteel Industries by 2.6% during the first quarter. James Investment Research Inc. now owns 17,128 shares of the company’s stock worth $397,000 after acquiring an additional 428 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Flexsteel Industries by 508.3% during the first quarter. BNP Paribas Arbitrage SA now owns 1,533 shares of the company’s stock worth $36,000 after acquiring an additional 1,281 shares during the last quarter. California Public Employees Retirement System increased its position in shares of Flexsteel Industries by 8.2% during the fourth quarter. California Public Employees Retirement System now owns 18,600 shares of the company’s stock worth $411,000 after acquiring an additional 1,402 shares during the last quarter. Bank of America Corp DE increased its position in shares of Flexsteel Industries by 43.3% during the fourth quarter. Bank of America Corp DE now owns 6,336 shares of the company’s stock worth $141,000 after acquiring an additional 1,914 shares during the last quarter. Finally, First Trust Advisors LP increased its position in shares of Flexsteel Industries by 19.1% during the fourth quarter. First Trust Advisors LP now owns 13,216 shares of the company’s stock worth $292,000 after acquiring an additional 2,121 shares during the last quarter. 63.65% of the stock is currently owned by institutional investors and hedge funds.

Shares of FLXS traded up $0.35 during midday trading on Friday, reaching $17.10. 7,163 shares of the company were exchanged, compared to its average volume of 22,014. The company’s 50-day moving average is $17.36. The stock has a market capitalization of $132.23 million, a P/E ratio of 22.04 and a beta of 1.57. Flexsteel Industries has a 1-year low of $16.04 and a 1-year high of $40.42.

Flexsteel Industries (NASDAQ:FLXS) last issued its quarterly earnings data on Monday, April 29th. The company reported $0.12 EPS for the quarter. The company had revenue of $111.54 million for the quarter. Flexsteel Industries had a positive return on equity of 2.52% and a negative net margin of 2.30%.

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 5.15%. The ex-dividend date was Thursday, June 13th.

About Flexsteel Industries

Flexsteel Industries, Inc, together with its subsidiaries, manufactures, imports, and markets residential and contract upholstered and wood furniture products in the United States. It offers its products for use in home, hotel, healthcare, recreational vehicle, marine, and office applications. The company distributes its products through its sales force and independent representatives.

Further Reading: How to Invest in a Bull Market

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