Short Interest in Flexsteel Industries, Inc. (NASDAQ:FLXS) Rises By 8.1%

Flexsteel Industries, Inc. (NASDAQ:FLXS) was the target of a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 61,100 shares, an increase of 8.1% from the November 30th total of 56,500 shares. Currently, 1.8% of the company’s shares are sold short. Based on an average daily volume of 31,900 shares, the days-to-cover ratio is presently 1.9 days.

Flexsteel Industries Trading Down 0.3 %

Shares of FLXS stock opened at $54.34 on Thursday. Flexsteel Industries has a 1-year low of $17.55 and a 1-year high of $65.87. The firm has a market cap of $283.00 million, a PE ratio of 21.48, a price-to-earnings-growth ratio of 1.57 and a beta of 0.40. The company has a 50-day moving average of $58.68 and a two-hundred day moving average of $45.57. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.84 and a quick ratio of 1.04.

Flexsteel Industries (NASDAQ:FLXS) last posted its quarterly earnings data on Monday, October 21st. The company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.12. The firm had revenue of $104.01 million during the quarter, compared to analysts’ expectations of $101.60 million. Flexsteel Industries had a net margin of 3.30% and a return on equity of 10.09%. During the same quarter last year, the company posted $0.14 EPS. On average, analysts predict that Flexsteel Industries will post 3.25 EPS for the current year.

Flexsteel Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Saturday, December 28th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.25%. Flexsteel Industries’s payout ratio is presently 26.88%.

Hedge Funds Weigh In On Flexsteel Industries

Several hedge funds have recently bought and sold shares of the company. State Street Corp grew its position in Flexsteel Industries by 17.9% in the 3rd quarter. State Street Corp now owns 58,687 shares of the company’s stock valued at $2,609,000 after acquiring an additional 8,917 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Flexsteel Industries by 185.1% in the second quarter. American Century Companies Inc. now owns 46,521 shares of the company’s stock valued at $1,445,000 after purchasing an additional 30,203 shares during the period. FMR LLC grew its holdings in shares of Flexsteel Industries by 26.0% in the third quarter. FMR LLC now owns 37,450 shares of the company’s stock valued at $1,659,000 after purchasing an additional 7,723 shares in the last quarter. Marion Wealth Management increased its stake in Flexsteel Industries by 3.6% during the 3rd quarter. Marion Wealth Management now owns 31,660 shares of the company’s stock worth $1,402,000 after buying an additional 1,101 shares during the period. Finally, Empowered Funds LLC lifted its holdings in Flexsteel Industries by 5.1% during the 3rd quarter. Empowered Funds LLC now owns 22,048 shares of the company’s stock worth $977,000 after buying an additional 1,072 shares in the last quarter. Institutional investors and hedge funds 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.