Flexsteel Industries (NASDAQ:FLXS) Shares Pass Below Two Hundred Day Moving Average of $34.64

Flexsteel Industries, Inc. (NASDAQ:FLXS)’s share price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $34.64 and traded as low as $33.90. Flexsteel Industries shares last traded at $34.45, with a volume of 10,995 shares traded.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Flexsteel Industries from a “buy” rating to a “hold” rating in a research report on Tuesday, June 4th.

Flexsteel Industries Price Performance

The stock’s 50-day moving average price is $34.12 and its 200 day moving average price is $34.68. The firm has a market cap of $180.15 million, a price-to-earnings ratio of 11.84, a price-to-earnings-growth ratio of 1.00 and a beta of 0.49. The company has a quick ratio of 0.99, a current ratio of 2.79 and a debt-to-equity ratio of 0.10.

Flexsteel Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 8th. Stockholders of record on Wednesday, June 26th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date of this dividend was Wednesday, June 26th. Flexsteel Industries’s dividend payout ratio is currently 20.34%.

Institutional Trading of Flexsteel Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC bought a new stake in Flexsteel Industries in the first quarter valued at about $435,000. Victory Capital Management Inc. bought a new stake in Flexsteel Industries in the fourth quarter valued at about $92,000. Weitzel Financial Services Inc. bought a new stake in Flexsteel Industries in the first quarter valued at about $264,000. Marion Wealth Management increased 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 valued at $1,113,000 after acquiring an additional 1,979 shares during the period. Finally, Empowered Funds LLC grew its stake in Flexsteel Industries by 7.7% during the first quarter. Empowered Funds LLC now owns 19,536 shares of the company’s stock worth $729,000 after buying an additional 1,400 shares during the last quarter. Institutional investors own 36.27% of the company’s stock.

About Flexsteel Industries

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.