Flexsteel Industries, Inc. (NASDAQ:FLXS) Short Interest Down 12.2% in February

Flexsteel Industries, Inc. (NASDAQ:FLXS) was the recipient of a large drop in short interest during the month of February. As of February 27th, there was short interest totaling 81,241 shares, a drop of 12.2% from the February 12th total of 92,579 shares. Based on an average daily trading volume, of 29,797 shares, the short-interest ratio is currently 2.7 days. Approximately 1.7% of the shares of the company are sold short. Approximately 1.7% of the shares of the company are sold short. Based on an average daily trading volume, of 29,797 shares, the short-interest ratio is currently 2.7 days.

Flexsteel Industries Price Performance

FLXS opened at $45.41 on Tuesday. The stock has a market cap of $242.94 million, a P/E ratio of 12.37, a P/E/G ratio of 0.92 and a beta of 0.46. The stock’s 50 day simple moving average is $47.00 and its 200 day simple moving average is $43.30. Flexsteel Industries has a 1-year low of $29.38 and a 1-year high of $59.95.

Flexsteel Industries (NASDAQ:FLXS) last issued its quarterly earnings data on Monday, February 2nd. The company reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.39. The firm had revenue of $118.25 million during the quarter, compared to analysts’ expectations of $107.51 million. Flexsteel Industries had a return on equity of 16.67% and a net margin of 4.58%. Research analysts expect that Flexsteel Industries will post 3.53 EPS for the current fiscal year.

Flexsteel Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 9th. Stockholders of record on Monday, March 30th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, March 30th. Flexsteel Industries’s payout ratio is 21.80%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on FLXS shares. Zacks Research upgraded shares of Flexsteel Industries from a “hold” rating to a “strong-buy” rating in a research report on Thursday, February 5th. Wall Street Zen raised shares of Flexsteel Industries from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 7th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Flexsteel Industries in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy”.

Institutional Investors Weigh In On Flexsteel Industries

Several institutional investors and hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC purchased a new position in Flexsteel Industries during the 1st quarter valued at about $221,000. Jones Financial Companies Lllp lifted its holdings in shares of Flexsteel Industries by 5,214.0% in the first quarter. Jones Financial Companies Lllp now owns 2,657 shares of the company’s stock valued at $97,000 after purchasing an additional 2,607 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Flexsteel Industries by 7.0% in the first quarter. Empowered Funds LLC now owns 24,749 shares of the company’s stock valued at $904,000 after purchasing an additional 1,622 shares in the last quarter. LSV Asset Management grew its position in shares of Flexsteel Industries by 1,977.8% in the second quarter. LSV Asset Management now owns 18,700 shares of the company’s stock valued at $674,000 after purchasing an additional 17,800 shares during the last quarter. Finally, Hillsdale Investment Management Inc. grew its position in shares of Flexsteel Industries by 3.9% in the second quarter. Hillsdale Investment Management Inc. now owns 26,956 shares of the company’s stock valued at $971,000 after purchasing an additional 1,000 shares during the last quarter. 36.27% of the stock is currently owned by hedge funds and other 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.