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

Flexsteel Industries, Inc. (NASDAQ:FLXS - Get Free Report) was the recipient of a large growth in short interest in the month of April. As of April 15th, there was short interest totalling 34,700 shares, a growth of 50.2% from the March 31st total of 23,100 shares. Currently, 1.0% of the shares of the company are short sold. Based on an average daily volume of 28,200 shares, the short-interest ratio is presently 1.2 days.

Flexsteel Industries Price Performance

Shares of NASDAQ:FLXS traded down $1.02 during midday trading on Friday, hitting $37.61. The stock had a trading volume of 18,120 shares, compared to its average volume of 22,175. The company's 50-day moving average price is $36.44 and its 200-day moving average price is $26.69. The company has a market capitalization of $193.69 million, a P/E ratio of 12.97, a price-to-earnings-growth ratio of 1.65 and a beta of 0.53. 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 has a fifty-two week low of $15.67 and a fifty-two week high of $41.64.

Flexsteel Industries (NASDAQ:FLXS - Get Free Report) last issued its earnings results on Monday, February 5th. The company reported $0.57 EPS for the quarter, meeting the consensus estimate of $0.57. The company had revenue of $100.11 million during 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%. As a group, equities research analysts predict that Flexsteel Industries will post 1.95 EPS for the current fiscal year.

Flexsteel Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Tuesday, March 26th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend was Monday, March 25th. Flexsteel Industries's dividend payout ratio is 20.69%.

Wall Street Analyst Weigh In

FLXS has been the subject of a number of recent research reports. StockNews.com downgraded shares of Flexsteel Industries from a "buy" rating to a "hold" rating in a report on Wednesday, April 17th. TheStreet upgraded shares of Flexsteel Industries from a "c" rating to a "b-" rating in a research report on Monday, February 5th.

Hedge Funds Weigh In On Flexsteel Industries

A number of institutional investors have recently added to or reduced their stakes in the stock. Marion Wealth Management increased its position in Flexsteel Industries by 7.1% in the 1st quarter. Marion Wealth Management now owns 29,837 shares of the company's stock valued at $1,113,000 after acquiring an additional 1,979 shares during the period. Weitzel Financial Services Inc. acquired a new position in Flexsteel Industries in the 1st quarter valued at approximately $264,000. Victory Capital Management Inc. acquired a new position in Flexsteel Industries in the 4th quarter valued at approximately $92,000. Denali Advisors LLC bought a new stake in shares of Flexsteel Industries in the 1st quarter valued at $127,000. Finally, Barclays PLC bought a new stake in shares of Flexsteel Industries in the 3rd quarter valued at $40,000. 36.27% of the stock is currently owned by institutional investors and hedge funds.

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.