Short Interest in Flexsteel Industries, Inc. (NASDAQ:FLXS) Increases By 369.7%

Flexsteel Industries, Inc. (NASDAQ:FLXS) saw a significant increase in short interest in July. As of July 15th, there was short interest totalling 136,200 shares, an increase of 369.7% from the June 30th total of 29,000 shares. Approximately 3.8% of the company’s shares are short sold. Based on an average daily volume of 37,800 shares, the days-to-cover ratio is presently 3.6 days.

Hedge Funds Weigh In On Flexsteel Industries

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. acquired a new stake in Flexsteel Industries during the 4th quarter worth about $92,000. Denali Advisors LLC acquired a new stake in Flexsteel Industries during the 1st quarter worth about $127,000. Hillsdale Investment Management Inc. acquired a new stake in Flexsteel Industries during the 1st quarter worth about $195,000. Weitzel Financial Services Inc. acquired a new stake in Flexsteel Industries during the 1st quarter worth about $264,000. Finally, Heron Bay Capital Management acquired a new stake in Flexsteel Industries during the 1st quarter worth about $298,000. Hedge funds and other institutional investors own 36.27% of the company’s stock.

Flexsteel Industries Stock Up 3.2 %

Flexsteel Industries stock traded up $1.16 during mid-day trading on Thursday, reaching $37.85. 22,397 shares of the company were exchanged, compared to its average volume of 33,507. Flexsteel Industries has a 12-month low of $15.67 and a 12-month high of $41.64. The business has a fifty day moving average of $33.96 and a 200 day moving average of $33.68. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.99 and a current ratio of 2.79. The firm has a market cap of $195.31 million, a P/E ratio of 12.44, a PEG ratio of 1.04 and a beta of 0.49.

Flexsteel Industries (NASDAQ:FLXS) last issued its quarterly earnings data on Monday, April 29th. The company reported $0.67 EPS for the quarter, beating the consensus estimate 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%. Research analysts anticipate that Flexsteel Industries will post 2.09 earnings per share for the current fiscal year.

Flexsteel Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 8th. Investors of record on Wednesday, June 26th were paid 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 yield of 1.59%. Flexsteel Industries’s dividend payout ratio (DPR) is 20.34%.

Analyst Upgrades and Downgrades

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

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.