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

Flexsteel Industries, Inc. (NASDAQ:FLXS) was the target of a significant decline in short interest in the month of September. As of September 15th, there was short interest totalling 105,700 shares, a decline of 7.0% from the August 31st total of 113,700 shares. Approximately 2.9% of the shares of the company are sold short. Based on an average daily volume of 40,000 shares, the short-interest ratio is currently 2.6 days.

Flexsteel Industries Stock Performance

NASDAQ:FLXS traded down $0.43 during mid-day trading on Tuesday, hitting $43.86. 16,364 shares of the company traded hands, compared to its average volume of 31,502. The stock’s fifty day moving average price is $39.46 and its 200-day moving average price is $36.79. Flexsteel Industries has a one year low of $15.67 and a one year high of $45.50. The company has a quick ratio of 0.97, a current ratio of 2.57 and a debt-to-equity ratio of 0.03. The firm has a market cap of $226.14 million, a price-to-earnings ratio of 14.89, a price-to-earnings-growth ratio of 1.20 and a beta of 0.46.

Flexsteel Industries (NASDAQ:FLXS) last released its quarterly earnings results on Monday, August 19th. The company reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.08. Flexsteel Industries had a return on equity of 7.98% and a net margin of 2.55%. The business had revenue of $110.82 million during the quarter, compared to analyst estimates of $109.52 million. Research analysts anticipate that Flexsteel Industries will post 3 earnings per share for the current fiscal year.

Flexsteel Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Wednesday, September 25th will be paid a $0.17 dividend. This is a positive change from Flexsteel Industries’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, September 25th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.55%. Flexsteel Industries’s dividend payout ratio is 23.05%.

Hedge Funds Weigh In On Flexsteel Industries

Hedge funds have recently made changes to their positions in the business. Denali Advisors LLC bought a new position in shares of Flexsteel Industries in the first quarter worth about $127,000. Rhumbline Advisers lifted its position in shares of Flexsteel Industries by 1,647.7% in the second quarter. Rhumbline Advisers now owns 5,313 shares of the company’s stock worth $165,000 after buying an additional 5,009 shares in the last quarter. Hillsdale Investment Management Inc. purchased a new stake in shares of Flexsteel Industries in the first quarter worth about $195,000. Marshall Wace LLP purchased a new stake in shares of Flexsteel Industries in the second quarter worth about $217,000. Finally, Ritholtz Wealth Management purchased a new stake in shares of Flexsteel Industries in the second quarter worth about $219,000. Institutional investors own 36.27% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Flexsteel Industries from a “hold” rating to a “buy” rating in a report on Wednesday, August 21st.

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.