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

Flexsteel Industries, Inc. (NASDAQ:FLXS) saw a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 23,100 shares, a drop of 7.6% from the March 15th total of 25,000 shares. Currently, 0.7% of the company’s shares are sold short. Based on an average trading volume of 32,400 shares, the days-to-cover ratio is presently 0.7 days.

Institutional Investors Weigh In On Flexsteel Industries

A number of institutional investors have recently modified their holdings of FLXS. UBS Group AG boosted its holdings in Flexsteel Industries by 90.7% in the third quarter. UBS Group AG now owns 2,090 shares of the company’s stock valued at $33,000 after purchasing an additional 994 shares during the period. Barclays PLC purchased a new position in Flexsteel Industries in the third quarter valued at $40,000. BNP Paribas Arbitrage SA boosted its holdings in Flexsteel Industries by 109.6% in the second quarter. BNP Paribas Arbitrage SA now owns 2,257 shares of the company’s stock valued at $41,000 after purchasing an additional 1,180 shares during the period. Victory Capital Management Inc. purchased a new position in Flexsteel Industries in the fourth quarter valued at $92,000. Finally, Bank of America Corp DE boosted its holdings in Flexsteel Industries by 49.4% in the first quarter. Bank of America Corp DE now owns 5,659 shares of the company’s stock valued at $109,000 after purchasing an additional 1,871 shares during the period. 36.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on FLXS shares. StockNews.com cut Flexsteel Industries from a “buy” rating to a “hold” rating in a research note on Friday, April 5th. TheStreet raised Flexsteel Industries from a “c” rating to a “b-” rating in a research note on Monday, February 5th.

Flexsteel Industries Trading Up 0.2 %

FLXS stock traded up $0.07 during midday trading on Tuesday, hitting $38.55. 22,886 shares of the company’s stock were exchanged, compared to its average volume of 30,770. The business has a 50-day simple moving average of $35.53 and a two-hundred day simple moving average of $25.60. The company has a current ratio of 3.07, a quick ratio of 0.90 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $198.53 million, a PE ratio of 13.29, a P/E/G ratio of 1.62 and a beta of 0.53. Flexsteel Industries has a 1-year low of $15.67 and a 1-year high of $41.64.

Flexsteel Industries (NASDAQ:FLXS) last issued its quarterly earnings data on Monday, February 5th. The company reported $0.57 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.57. Flexsteel Industries had a return on equity of 5.13% and a net margin of 3.86%. The business had revenue of $100.11 million during the quarter, compared to analysts’ expectations of $100.09 million. On average, sell-side analysts predict that Flexsteel Industries will post 1.95 EPS for the current fiscal year.

Flexsteel Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Tuesday, March 26th were paid a $0.15 dividend. The ex-dividend date of this dividend was Monday, March 25th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.56%. Flexsteel Industries’s payout ratio is presently 20.69%.

Flexsteel Industries Company Profile

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.