Flexsteel Industries (NASDAQ:FLXS) Shares Cross Above 200-Day Moving Average of $25.40

Shares of Flexsteel Industries, Inc. (NASDAQ:FLXS) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $25.40 and traded as high as $38.37. Flexsteel Industries shares last traded at $37.99, with a volume of 17,128 shares.

Analyst Upgrades and Downgrades

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

Flexsteel Industries Trading Down 0.6 %

The firm has a market cap of $195.65 million, a P/E ratio of 13.10, a PEG ratio of 1.65 and a beta of 0.53. The firm’s fifty day moving average is $35.32 and its two-hundred day moving average is $25.40. The company has a quick ratio of 0.90, a current ratio of 3.07 and a debt-to-equity ratio of 0.12.

Flexsteel Industries (NASDAQ:FLXS) last released its quarterly 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 business had revenue of $100.11 million for the quarter, compared to analysts’ expectations of $100.09 million. Flexsteel Industries had a net margin of 3.86% and a return on equity of 5.13%. Analysts predict that Flexsteel Industries, Inc. will post 1.95 earnings per share for the current fiscal year.

Flexsteel Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Tuesday, March 26th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.58%. The ex-dividend date was Monday, March 25th. Flexsteel Industries’s dividend payout ratio (DPR) is currently 20.69%.

Institutional Trading of Flexsteel Industries

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Flexsteel Industries by 2.2% during the 3rd quarter. Vanguard Group Inc. now owns 243,811 shares of the company’s stock valued at $3,828,000 after buying an additional 5,362 shares in the last quarter. Punch & Associates Investment Management Inc. boosted its holdings in shares of Flexsteel Industries by 0.6% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 196,499 shares of the company’s stock valued at $3,785,000 after buying an additional 1,199 shares in the last quarter. BlackRock Inc. boosted its holdings in shares of Flexsteel Industries by 38.3% during the 3rd quarter. BlackRock Inc. now owns 146,344 shares of the company’s stock valued at $2,297,000 after buying an additional 40,540 shares in the last quarter. State Street Corp increased its position in shares of Flexsteel Industries by 2.6% during the 1st quarter. State Street Corp now owns 106,455 shares of the company’s stock valued at $2,070,000 after purchasing an additional 2,688 shares during the last quarter. Finally, Millennium Management LLC purchased a new stake in shares of Flexsteel Industries during the 2nd quarter valued at about $1,380,000. Institutional investors own 36.27% of the company’s stock.

About Flexsteel Industries

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.