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

Flexsteel Industries, Inc. (NASDAQ:FLXS) saw a large growth in short interest during the month of June. As of June 30th, there was short interest totalling 29,000 shares, a growth of 48.7% from the June 15th total of 19,500 shares. Currently, 0.8% of the company’s stock are sold short. Based on an average trading volume of 36,300 shares, the short-interest ratio is presently 0.8 days.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Flexsteel Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, June 4th.

Flexsteel Industries Stock Performance

Shares of FLXS stock traded up $1.56 during trading on Monday, reaching $36.00. 42,619 shares of the company’s stock traded hands, compared to its average volume of 34,019. The firm’s 50-day moving average is $33.69 and its 200 day moving average is $32.76. The company has a market capitalization of $185.76 million, a P/E ratio of 11.67, a PEG ratio of 0.94 and a beta of 0.49. Flexsteel Industries has a 1 year low of $15.67 and a 1 year high of $41.64. The company has a current ratio of 2.79, a quick ratio of 0.99 and a debt-to-equity ratio of 0.10.

Flexsteel Industries (NASDAQ:FLXS) last posted its quarterly earnings results on Monday, April 29th. The company reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.11. The firm had revenue of $107.22 million during the quarter, compared to analyst estimates of $102.11 million. Flexsteel Industries had a return on equity of 6.54% and a net margin of 3.87%. Equities research analysts expect that Flexsteel Industries will post 2.09 EPS for the current year.

Flexsteel Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 8th. Stockholders of record on Wednesday, June 26th were given a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, June 26th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.67%. Flexsteel Industries’s dividend payout ratio (DPR) is currently 20.34%.

Institutional Trading of Flexsteel Industries

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Victory Capital Management Inc. purchased a new stake in shares of Flexsteel Industries in the fourth quarter worth $92,000. Weitzel Financial Services Inc. bought a new position in shares of Flexsteel Industries in the first quarter worth approximately $264,000. Marion Wealth Management raised its stake in Flexsteel Industries by 7.1% in the first quarter. Marion Wealth Management now owns 29,837 shares of the company’s stock valued at $1,113,000 after purchasing an additional 1,979 shares in the last quarter. Denali Advisors LLC bought a new position in shares of Flexsteel Industries in the 1st quarter worth $127,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of Flexsteel Industries during the 1st quarter valued at $435,000. Institutional investors own 36.27% of the company’s stock.

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.