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

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on FLXS shares. StockNews.com downgraded Flexsteel Industries from a “buy” rating to a “hold” rating in a report on Friday, April 5th. TheStreet upgraded Flexsteel Industries from a “c” rating to a “b-” rating in a report on Monday, February 5th.

Flexsteel Industries Stock Performance

NASDAQ:FLXS traded up $0.07 on Tuesday, hitting $38.55. The stock had a trading volume of 22,886 shares, compared to its average volume of 30,770. The stock has a market cap of $198.53 million, a price-to-earnings ratio of 13.29, a price-to-earnings-growth ratio of 1.62 and a beta of 0.53. The company has a quick ratio of 0.90, a current ratio of 3.07 and a debt-to-equity ratio of 0.12. The business’s 50-day simple moving average is $35.53 and its two-hundred day simple moving average is $25.60. Flexsteel Industries has a 52-week low of $15.67 and a 52-week high of $41.64.

Flexsteel Industries (NASDAQ:FLXS) last released its earnings results on Monday, February 5th. The company reported $0.57 earnings per share for the quarter, meeting the consensus estimate of $0.57. The firm had revenue of $100.11 million for the quarter, compared to the consensus estimate of $100.09 million. Flexsteel Industries had a return on equity of 5.13% and a net margin of 3.86%. As a group, research analysts predict that Flexsteel Industries will post 1.95 earnings per share for the current year.

Flexsteel Industries Announces Dividend

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

Hedge Funds Weigh In On Flexsteel Industries

Large investors have recently modified their holdings of the stock. UBS Group AG increased its position in shares of Flexsteel Industries by 90.7% during the 3rd 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 last quarter. Barclays PLC purchased a new position in Flexsteel Industries during the 3rd quarter valued at $40,000. BNP Paribas Arbitrage SA boosted its holdings in Flexsteel Industries by 109.6% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,257 shares of the company’s stock valued at $41,000 after acquiring an additional 1,180 shares during the period. Victory Capital Management Inc. purchased a new position in Flexsteel Industries during the 4th quarter valued at $92,000. Finally, Bank of America Corp DE boosted its holdings in Flexsteel Industries by 49.4% during the 1st quarter. Bank of America Corp DE now owns 5,659 shares of the company’s stock valued at $109,000 after acquiring an additional 1,871 shares during the period. Institutional investors own 36.27% of the company’s stock.

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.