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

Flexsteel Industries, Inc. (NASDAQ:FLXS) was the target of a large growth in short interest during the month of January. As of January 15th, there was short interest totaling 105,293 shares, a growth of 20.0% from the December 31st total of 87,774 shares. Approximately 2.2% of the shares of the company are short sold. Based on an average trading volume of 21,290 shares, the days-to-cover ratio is presently 4.9 days. Based on an average trading volume of 21,290 shares, the days-to-cover ratio is presently 4.9 days. Approximately 2.2% of the shares of the company are short sold.

Flexsteel Industries Price Performance

NASDAQ:FLXS traded up $1.51 during trading hours on Tuesday, reaching $43.17. 83,296 shares of the company were exchanged, compared to its average volume of 18,162. The company has a market capitalization of $230.53 million, a P/E ratio of 11.76, a P/E/G ratio of 0.98 and a beta of 0.51. Flexsteel Industries has a 1-year low of $29.38 and a 1-year high of $64.14. The business has a 50 day moving average of $40.68 and a 200 day moving average of $40.50.

Flexsteel Industries (NASDAQ:FLXS) last released its earnings results on Monday, February 2nd. The company reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.39. Flexsteel Industries had a return on equity of 16.99% and a net margin of 4.58%.The firm had revenue of $118.25 million during the quarter, compared to the consensus estimate of $107.51 million. As a group, equities research analysts anticipate that Flexsteel Industries will post 3.53 earnings per share for the current fiscal year.

Flexsteel Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 8th. Stockholders of record on Monday, December 29th were given a $0.20 dividend. The ex-dividend date was Monday, December 29th. This represents a $0.80 annualized dividend and a dividend yield of 1.9%. Flexsteel Industries’s payout ratio is presently 19.46%.

Analyst Ratings Changes

A number of research firms have recently issued reports on FLXS. Weiss Ratings restated a “hold (c+)” rating on shares of Flexsteel Industries in a research note on Monday, December 29th. Zacks Research upgraded shares of Flexsteel Industries from a “strong sell” rating to a “hold” rating in a research report on Monday, December 15th. Finally, Wall Street Zen downgraded Flexsteel Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 18th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, Flexsteel Industries currently has an average rating of “Hold”.

Institutional Investors Weigh In On Flexsteel Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Focus Partners Wealth bought a new stake in shares of Flexsteel Industries during the 3rd quarter valued at approximately $1,105,000. SummerHaven Investment Management LLC bought a new position in Flexsteel Industries in the third quarter valued at about $991,000. Inspire Investing LLC acquired a new stake in shares of Flexsteel Industries during the third quarter valued at about $955,000. LSV Asset Management increased its stake in shares of Flexsteel Industries by 102.1% in the third quarter. LSV Asset Management now owns 37,800 shares of the company’s stock valued at $1,752,000 after buying an additional 19,100 shares during the period. Finally, Squarepoint Ops LLC raised its holdings in Flexsteel Industries by 141.2% in the 3rd quarter. Squarepoint Ops LLC now owns 26,432 shares of the company’s stock valued at $1,225,000 after buying an additional 15,472 shares during the last quarter. 36.27% of the stock is currently owned by institutional investors.

Flexsteel Industries Company Profile

Flexsteel Industries, Inc (NASDAQ: FLXS) is a U.S.-based furniture manufacturer specializing in the design, production, and marketing of residential upholstered furniture and wood casegoods. The company operates through two primary segments: Upholstery, which encompasses seating products such as sofas, loveseats, chairs, recliners, and sectionals; and Casegoods, which includes accent and occasional tables, cabinets, bookcases, and other wood-based furnishings. Flexsteel sells its products through a network of independent retailers, furniture stores, and distributors across North America.

Flexsteel’s upholstery segment is distinguished by its patented Blue Steel Spring® technology, which offers enhanced longevity and comfort by replacing conventional webbing and springs with a welded steel seat suspension.