Flexsteel Industries, Inc. (NASDAQ:FLXS) Short Interest Down 7.6% in March

Flexsteel Industries, Inc. (NASDAQ:FLXS) saw a significant drop in short interest in 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. Approximately 0.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 32,400 shares, the short-interest ratio is presently 0.7 days.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

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

Flexsteel Industries Price Performance

Shares of FLXS traded up $0.07 during mid-day trading on Tuesday, reaching $38.55. 22,886 shares of the company’s stock were exchanged, compared to its average volume of 30,770. 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 company has a 50-day simple moving average of $35.53 and a two-hundred day simple moving average of $25.60. Flexsteel Industries has a 52-week low of $15.67 and a 52-week high of $41.64. The company has a market cap of $198.53 million, a price-to-earnings ratio of 13.27, a PEG ratio of 1.62 and a beta of 0.53.

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, hitting analysts’ consensus estimates of $0.57. Flexsteel Industries had a net margin of 3.86% and a return on equity of 5.13%. 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 Dividend Announcement

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