Flexsteel Industries, Inc. (NASDAQ:FLXS) Short Interest Up 50.2% in April

Flexsteel Industries, Inc. (NASDAQ:FLXS) was the target of a significant growth in short interest during 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. Approximately 1.0% of the shares of the stock are short sold. Based on an average trading volume of 28,200 shares, the short-interest ratio is currently 1.2 days.

Flexsteel Industries Trading Up 3.8 %

Flexsteel Industries stock traded up $1.42 during trading hours on Monday, reaching $39.03. The stock had a trading volume of 20,675 shares, compared to its average volume of 29,166. The company has a fifty day simple moving average of $36.44 and a 200-day simple moving average of $26.74. Flexsteel Industries has a 52 week low of $15.67 and a 52 week high of $41.64. The stock has a market cap of $201.00 million, a PE ratio of 12.97, a PEG ratio of 1.61 and a beta of 0.53. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.07 and a quick ratio of 0.90.

Flexsteel Industries (NASDAQ:FLXS) last posted its earnings results on Monday, February 5th. The company reported $0.57 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.57. Flexsteel Industries had a net margin of 3.86% and a return on equity of 5.13%. The company had revenue of $100.11 million during the quarter, compared to analyst estimates of $100.09 million. Analysts forecast that Flexsteel Industries will post 1.95 EPS for the current fiscal year.

Flexsteel Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Tuesday, March 26th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, March 25th. This represents a $0.60 annualized dividend and a dividend yield of 1.54%. Flexsteel Industries’s dividend payout ratio (DPR) is presently 20.69%.

Institutional Trading of Flexsteel Industries

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Barclays PLC bought a new stake in Flexsteel Industries during the 3rd quarter valued at approximately $40,000. Victory Capital Management Inc. bought a new stake in shares of Flexsteel Industries during the fourth quarter valued at approximately $92,000. Marion Wealth Management grew its stake in Flexsteel Industries by 7.1% in the first quarter. Marion Wealth Management now owns 29,837 shares of the company’s stock worth $1,113,000 after purchasing an additional 1,979 shares during the period. Weitzel Financial Services Inc. purchased a new stake in Flexsteel Industries in the first quarter worth $264,000. Finally, Denali Advisors LLC bought a new position in Flexsteel Industries in the first quarter worth $127,000. Hedge funds and other institutional investors own 36.27% of the company’s stock.

Analysts Set New Price Targets

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

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.