Flexsteel Industries, Inc. (NASDAQ:FLXS) Short Interest Down 6.6% in November

Flexsteel Industries, Inc. (NASDAQ:FLXS) was the recipient of a significant decline in short interest in November. As of November 15th, there was short interest totalling 74,000 shares, a decline of 6.6% from the October 31st total of 79,200 shares. Currently, 2.1% of the company’s shares are sold short. Based on an average trading volume of 29,900 shares, the short-interest ratio is currently 2.5 days.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Flexsteel Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. American Century Companies Inc. raised its stake in shares of Flexsteel Industries by 185.1% during the 2nd quarter. American Century Companies Inc. now owns 46,521 shares of the company’s stock worth $1,445,000 after acquiring an additional 30,203 shares in the last quarter. Nations Financial Group Inc. IA ADV purchased a new position in Flexsteel Industries in the second quarter worth $843,000. Bank of New York Mellon Corp acquired a new position in shares of Flexsteel Industries during the second quarter worth $425,000. State Street Corp grew its stake in Flexsteel Industries by 17.9% during the 3rd quarter. State Street Corp now owns 58,687 shares of the company’s stock worth $2,609,000 after buying an additional 8,917 shares during the last quarter. Finally, FMR LLC grew its stake in Flexsteel Industries by 26.0% during the 3rd quarter. FMR LLC now owns 37,450 shares of the company’s stock worth $1,659,000 after buying an additional 7,723 shares during the last quarter. Hedge funds and other institutional investors own 36.27% of the company’s stock.

Flexsteel Industries Stock Performance

Shares of Flexsteel Industries stock opened at $62.12 on Wednesday. The company has a current ratio of 2.84, a quick ratio of 1.04 and a debt-to-equity ratio of 0.02. The stock’s fifty day moving average price is $52.52 and its 200-day moving average price is $42.08. The firm has a market cap of $323.52 million, a P/E ratio of 24.55, a P/E/G ratio of 1.56 and a beta of 0.40. Flexsteel Industries has a 12 month low of $17.00 and a 12 month high of $63.00.

Flexsteel Industries (NASDAQ:FLXS) last posted its earnings results on Monday, October 21st. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.12. Flexsteel Industries had a net margin of 3.30% and a return on equity of 10.09%. The business had revenue of $104.01 million for the quarter, compared to the consensus estimate of $101.60 million. During the same quarter last year, the firm posted $0.14 EPS. On average, equities research analysts expect that Flexsteel Industries will post 3.25 earnings per share for the current fiscal year.

Flexsteel Industries Increases Dividend

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

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.