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

Flexsteel Industries, Inc. (NASDAQ:FLXS) was the recipient of a significant drop in short interest during the month of February. As of February 27th, there was short interest totaling 81,241 shares, a drop of 12.2% from the February 12th total of 92,579 shares. Currently, 1.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 29,797 shares, the short-interest ratio is presently 2.7 days. Based on an average daily trading volume, of 29,797 shares, the short-interest ratio is presently 2.7 days. Currently, 1.7% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Flexsteel Industries in a research report on Monday, December 29th. Zacks Research upgraded shares of Flexsteel Industries from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 5th. Finally, Wall Street Zen upgraded shares of Flexsteel Industries from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 7th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy”.

Flexsteel Industries Price Performance

NASDAQ FLXS opened at $45.18 on Thursday. Flexsteel Industries has a 1-year low of $29.38 and a 1-year high of $59.95. The business has a 50 day simple moving average of $47.23 and a two-hundred day simple moving average of $43.31. The stock has a market capitalization of $241.71 million, a PE ratio of 12.31, a P/E/G ratio of 0.93 and a beta of 0.47.

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

Flexsteel Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Monday, March 30th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Monday, March 30th. This represents a $0.80 dividend on an annualized basis and a yield of 1.8%. Flexsteel Industries’s dividend payout ratio is presently 21.80%.

Hedge Funds Weigh In On Flexsteel Industries

A number of institutional investors and hedge funds have recently made changes to their positions in the business. IFP Advisors Inc increased its holdings in shares of Flexsteel Industries by 2,200.0% in the 3rd quarter. IFP Advisors Inc now owns 621 shares of the company’s stock worth $29,000 after buying an additional 594 shares during the last quarter. State of Alaska Department of Revenue bought a new position in shares of Flexsteel Industries in the 4th quarter valued at about $38,000. BNP Paribas Financial Markets grew its position in Flexsteel Industries by 149.6% in the third quarter. BNP Paribas Financial Markets now owns 971 shares of the company’s stock worth $45,000 after acquiring an additional 582 shares in the last quarter. Farther Finance Advisors LLC bought a new stake in Flexsteel Industries during the fourth quarter worth approximately $49,000. Finally, Copeland Capital Management LLC bought a new stake in Flexsteel Industries during the fourth quarter worth approximately $59,000. 36.27% of the stock is owned by hedge funds and other institutional investors.

About Flexsteel Industries

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.