Flexsteel Industries (NASDAQ:FLXS) Share Price Crosses Below 200 Day Moving Average - Time to Sell?

Flexsteel Industries, Inc. (NASDAQ:FLXS - Get Free Report) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $40.70 and traded as low as $38.38. Flexsteel Industries shares last traded at $39.04, with a volume of 28,546 shares changing hands.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of Flexsteel Industries from a "strong-buy" rating to a "buy" rating in a report on Saturday, June 21st.

Flexsteel Industries Stock Up 0.1%

The business's 50-day moving average is $33.34 and its two-hundred day moving average is $40.70. The company has a market capitalization of $206.02 million, a P/E ratio of 15.38, a price-to-earnings-growth ratio of 0.85 and a beta of 0.39.

Flexsteel Industries (NASDAQ:FLXS - Get Free Report) last issued its quarterly earnings data on Monday, April 21st. The company reported $1.13 EPS for the quarter, beating the consensus estimate of $0.88 by $0.25. The company had revenue of $113.97 million during the quarter, compared to analysts' expectations of $112.24 million. Flexsteel Industries had a net margin of 3.29% and a return on equity of 12.72%. Analysts predict that Flexsteel Industries, Inc. will post 3.53 EPS for the current year.

Flexsteel Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 7th. Shareholders of record on Wednesday, June 25th were given a dividend of $0.20 per share. This is an increase from Flexsteel Industries's previous quarterly dividend of $0.17. This represents a $0.80 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date was Wednesday, June 25th. Flexsteel Industries's payout ratio is presently 31.50%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Deutsche Bank AG purchased a new stake in shares of Flexsteel Industries in the 4th quarter worth about $181,000. Nuveen Asset Management LLC raised its stake in Flexsteel Industries by 274.7% during the 4th quarter. Nuveen Asset Management LLC now owns 23,202 shares of the company's stock worth $1,261,000 after acquiring an additional 17,010 shares during the period. Public Employees Retirement System of Ohio boosted its position in shares of Flexsteel Industries by 223.3% in the fourth quarter. Public Employees Retirement System of Ohio now owns 3,686 shares of the company's stock worth $200,000 after purchasing an additional 2,546 shares during the period. Bank of America Corp DE grew its holdings in Flexsteel Industries by 40.3% during the 4th quarter. Bank of America Corp DE now owns 4,843 shares of the company's stock valued at $263,000 after buying an additional 1,392 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in Flexsteel Industries by 4,864.0% during the 1st quarter. GAMMA Investing LLC now owns 1,241 shares of the company's stock valued at $45,000 after buying an additional 1,216 shares in the last quarter. 36.27% of the stock is owned by hedge funds and other institutional investors.

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.