Flexsteel Industries (NASDAQ:FLXS) Share Price Passes Below 200-Day Moving Average – Here’s What Happened

Flexsteel Industries, Inc. (NASDAQ:FLXS)’s share price 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 Up 1.4 %

The firm has a 50-day moving average of $48.16 and a 200 day moving average of $50.61. The company has a market cap of $207.65 million, a P/E ratio of 11.01, a price-to-earnings-growth ratio of 1.14 and a beta of 0.31.

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

Flexsteel Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Wednesday, March 26th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.73%. The ex-dividend date is Wednesday, March 26th. Flexsteel Industries’s dividend payout ratio (DPR) is presently 18.99%.

Institutional Trading of Flexsteel Industries

Several institutional investors and hedge funds have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its stake in shares of Flexsteel Industries by 2.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 10,219 shares of the company’s stock worth $556,000 after purchasing an additional 226 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Flexsteel Industries by 0.3% in the fourth 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 raised its stake in shares of Flexsteel Industries by 1.5% in the fourth 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. raised its stake in shares of Flexsteel Industries by 4.1% in the fourth 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 raised its stake in shares of Flexsteel Industries by 29.3% in the fourth 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. 36.27% of the stock is owned by hedge funds and other institutional investors.

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.