The Dixie Group, Inc. (NASDAQ:DXYN) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued on Monday.

According to Zacks, “Dixie Group Inc. is a leading carpet and rug manufacturer and supplier to higher-end residential and commercial customers serviced by Masland Carpets and Fabrica International, to consumers through major retailers under the Bretlin, Globaltex and Alliance Mills brands and to the factory-built housing and recreational vehicle markets through Carriage Carpets. Dixie’s Candlewick Yarns serves specialty carpet yarn customers.(PR) “

Separately, ValuEngine cut shares of The Dixie Group from a “hold” rating to a “sell” rating in a research note on Thursday, August 24th.

The Dixie Group (NASDAQ:DXYN) opened at $3.85 on Monday. The company has a quick ratio of 0.81, a current ratio of 2.61 and a debt-to-equity ratio of 1.46. The Dixie Group has a 12 month low of $3.25 and a 12 month high of $5.20.

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Several hedge funds and other institutional investors have recently modified their holdings of the business. Northern Trust Corp boosted its position in shares of The Dixie Group by 4.0% during the 2nd quarter. Northern Trust Corp now owns 31,483 shares of the textile maker’s stock worth $141,000 after purchasing an additional 1,198 shares in the last quarter. Advisor Group Inc. boosted its position in shares of The Dixie Group by 2.7% during the 2nd quarter. Advisor Group Inc. now owns 89,945 shares of the textile maker’s stock worth $401,000 after purchasing an additional 2,350 shares in the last quarter. GRT Capital Partners L.L.C. boosted its position in shares of The Dixie Group by 17.0% during the 2nd quarter. GRT Capital Partners L.L.C. now owns 31,000 shares of the textile maker’s stock worth $138,000 after purchasing an additional 4,500 shares in the last quarter. Blair William & Co. IL boosted its position in shares of The Dixie Group by 5.2% during the 2nd quarter. Blair William & Co. IL now owns 191,968 shares of the textile maker’s stock worth $856,000 after purchasing an additional 9,500 shares in the last quarter. Finally, FTB Advisors Inc. boosted its position in shares of The Dixie Group by 71.3% during the 2nd quarter. FTB Advisors Inc. now owns 28,869 shares of the textile maker’s stock worth $128,000 after purchasing an additional 12,016 shares in the last quarter. Institutional investors own 60.91% of the company’s stock.

About The Dixie Group

The Dixie Group, Inc is engaged in marketing, manufacturing and selling of carpet and rugs. The Company offers its products to various residential and commercial customers through its various sales forces and brands. The Company operates through the carpet and rug manufacturing segment. The Company also provides carpet and yarn related services to other manufacturers.

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