Flexsteel Industries (NASDAQ:FLXS) Shares Pass Below 200-Day Moving Average – Here’s Why

Flexsteel Industries, Inc. (NASDAQ:FLXS) passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $50.62 and traded as low as $38.39. Flexsteel Industries shares last traded at $38.60, with a volume of 10,707 shares trading hands.

Flexsteel Industries Trading Down 0.5 %

The firm has a market cap of $203.38 million, a P/E ratio of 10.78, a PEG ratio of 1.14 and a beta of 0.31. The company’s 50-day moving average is $48.41 and its two-hundred day moving average is $50.62.

Flexsteel Industries (NASDAQ:FLXS) last announced its quarterly earnings results on Monday, February 3rd. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.21. Flexsteel Industries had a net margin of 4.63% and a return on equity of 11.25%. Research analysts anticipate that Flexsteel Industries, Inc. will post 3.53 EPS for the current fiscal year.

Flexsteel Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Wednesday, March 26th will be paid a $0.17 dividend. The ex-dividend date is Wednesday, March 26th. This represents a $0.68 annualized dividend and a yield of 1.76%. Flexsteel Industries’s dividend payout ratio (DPR) is 18.99%.

Institutional Investors Weigh In On Flexsteel Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its stake in Flexsteel Industries by 2.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,219 shares of the company’s stock valued at $556,000 after buying an additional 226 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Flexsteel Industries by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 95,508 shares of the company’s stock worth $5,191,000 after purchasing an additional 253 shares during the last quarter. Nations Financial Group Inc. IA ADV increased its stake in shares of Flexsteel Industries by 1.5% during the 4th quarter. Nations Financial Group Inc. IA ADV now owns 17,406 shares of the company’s stock worth $946,000 after purchasing an additional 265 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Flexsteel Industries by 4.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 14,109 shares of the company’s stock worth $767,000 after purchasing an additional 557 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of Flexsteel Industries by 29.3% during the 4th quarter. Wells Fargo & Company MN now owns 2,739 shares of the company’s stock worth $149,000 after purchasing an additional 620 shares during the last quarter. Hedge funds and other institutional investors own 36.27% of the company’s stock.

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.