Flexsteel Industries, Inc. (NASDAQ:FLXS - Get Free Report)'s share price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $38.89 and traded as low as $33.00. Flexsteel Industries shares last traded at $33.44, with a volume of 15,835 shares traded.
Wall Street Analysts Forecast Growth
Separately, Wall Street Zen upgraded shares of Flexsteel Industries from a "buy" rating to a "strong-buy" rating in a research report on Saturday.
Check Out Our Latest Analysis on FLXS
Flexsteel Industries Stock Performance
The stock's fifty day moving average price is $35.20 and its 200-day moving average price is $38.46. The firm has a market cap of $177.49 million, a PE ratio of 13.25, a P/E/G ratio of 0.76 and a beta of 0.32.
Flexsteel Industries Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, July 7th. Shareholders of record on Wednesday, June 25th were issued a dividend of $0.20 per share. This is an increase from Flexsteel Industries's previous quarterly dividend of $0.17. The ex-dividend date was Wednesday, June 25th. This represents a $0.80 annualized dividend and a yield of 2.4%. Flexsteel Industries's payout ratio is 31.50%.
Hedge Funds Weigh In On Flexsteel Industries
Several hedge funds have recently added to or reduced their stakes in FLXS. US Bancorp DE purchased a new stake in Flexsteel Industries in the first quarter valued at approximately $26,000. GAMMA Investing LLC grew its holdings in Flexsteel Industries by 4,864.0% in the first quarter. GAMMA Investing LLC now owns 1,241 shares of the company's stock valued at $45,000 after purchasing an additional 1,216 shares during the period. State of Wyoming purchased a new stake in Flexsteel Industries in the fourth quarter valued at approximately $52,000. Russell Investments Group Ltd. purchased a new stake in Flexsteel Industries in the first quarter valued at approximately $58,000. Finally, Aster Capital Management DIFC Ltd purchased a new stake in Flexsteel Industries in the fourth quarter valued at approximately $70,000. 36.27% of the stock is currently owned by hedge funds and other institutional investors.
About Flexsteel Industries
(
Get Free Report)
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.
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