Flexsteel Industries, Inc. (NASDAQ:FLXS) Short Interest Down 13.1% in January

Flexsteel Industries, Inc. (NASDAQ:FLXS) saw a large decrease in short interest in January. As of January 30th, there was short interest totaling 91,448 shares, a decrease of 13.1% from the January 15th total of 105,293 shares. Currently, 1.9% of the shares of the company are short sold. Based on an average trading volume of 17,979 shares, the days-to-cover ratio is presently 5.1 days. Based on an average trading volume of 17,979 shares, the days-to-cover ratio is presently 5.1 days. Currently, 1.9% of the shares of the company are short sold.

Flexsteel Industries Stock Performance

FLXS opened at $57.57 on Tuesday. The stock has a market capitalization of $308.00 million, a price-to-earnings ratio of 15.69, a PEG ratio of 1.17 and a beta of 0.51. The company has a fifty day moving average of $43.23 and a 200 day moving average of $41.62. Flexsteel Industries has a fifty-two week low of $29.38 and a fifty-two week high of $59.95.

Flexsteel Industries (NASDAQ:FLXS) last released its quarterly earnings data on Monday, February 2nd. The company reported $1.18 EPS for the quarter, beating the consensus estimate of $0.79 by $0.39. Flexsteel Industries had a net margin of 4.58% and a return on equity of 16.67%. The business had revenue of $118.25 million during the quarter, compared to the consensus estimate of $107.51 million. On average, equities research analysts forecast that Flexsteel Industries will post 3.53 earnings per share for the current year.

Flexsteel Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 8th. Shareholders of record on Monday, December 29th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.4%. The ex-dividend date was Monday, December 29th. Flexsteel Industries’s dividend payout ratio (DPR) is currently 21.80%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FLXS. Wall Street Zen raised shares of Flexsteel Industries from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 7th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Flexsteel Industries in a research note on Monday, December 29th. Finally, Zacks Research raised Flexsteel Industries from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy”.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Mariner LLC bought a new stake in Flexsteel Industries in the fourth quarter worth $46,099,000. Focus Partners Wealth purchased a new position in shares of Flexsteel Industries in the 3rd quarter worth $1,105,000. SummerHaven Investment Management LLC bought a new stake in shares of Flexsteel Industries in the 3rd quarter worth about $991,000. Inspire Investing LLC bought a new stake in shares of Flexsteel Industries in the 3rd quarter worth about $955,000. Finally, LSV Asset Management raised its position in shares of Flexsteel Industries by 102.1% during the 3rd quarter. LSV Asset Management now owns 37,800 shares of the company’s stock valued at $1,752,000 after buying an additional 19,100 shares in the last quarter. 36.27% of the stock is currently owned by institutional investors.

Flexsteel Industries Company Profile

Flexsteel Industries, Inc (NASDAQ: FLXS) is a U.S.-based furniture manufacturer specializing in the design, production, and marketing of residential upholstered furniture and wood casegoods. The company operates through two primary segments: Upholstery, which encompasses seating products such as sofas, loveseats, chairs, recliners, and sectionals; and Casegoods, which includes accent and occasional tables, cabinets, bookcases, and other wood-based furnishings. Flexsteel sells its products through a network of independent retailers, furniture stores, and distributors across North America.

Flexsteel’s upholstery segment is distinguished by its patented Blue Steel Spring® technology, which offers enhanced longevity and comfort by replacing conventional webbing and springs with a welded steel seat suspension.