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

Flexsteel Industries, Inc. (NASDAQ:FLXS) saw a significant growth in short interest in December. As of December 15th, there was short interest totalling 61,100 shares, a growth of 8.1% from the November 30th total of 56,500 shares. Currently, 1.8% of the shares of the company are short sold. Based on an average trading volume of 31,900 shares, the short-interest ratio is currently 1.9 days.

Institutional Investors Weigh In On Flexsteel Industries

Several hedge funds have recently made changes to their positions in the business. State Street Corp boosted its stake in shares of Flexsteel Industries by 17.9% during the third quarter. State Street Corp now owns 58,687 shares of the company’s stock worth $2,609,000 after buying an additional 8,917 shares during the period. American Century Companies Inc. boosted its stake in shares of Flexsteel Industries by 185.1% during the second quarter. American Century Companies Inc. now owns 46,521 shares of the company’s stock worth $1,445,000 after buying an additional 30,203 shares during the period. FMR LLC boosted its stake in shares of Flexsteel Industries by 26.0% during the third quarter. FMR LLC now owns 37,450 shares of the company’s stock worth $1,659,000 after buying an additional 7,723 shares during the period. Marion Wealth Management boosted its stake in shares of Flexsteel Industries by 3.6% during the third 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 boosted its stake in shares of Flexsteel Industries by 5.1% during the third quarter. Empowered Funds LLC now owns 22,048 shares of the company’s stock worth $977,000 after buying an additional 1,072 shares during the period. Institutional investors and hedge funds own 36.27% of the company’s stock.

Flexsteel Industries Stock Performance

NASDAQ FLXS opened at $54.34 on Thursday. 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 has a 1 year low of $17.55 and a 1 year high of $65.87. The company has a market capitalization of $283.00 million, a PE ratio of 21.48, a P/E/G ratio of 1.57 and a beta of 0.40. The company has a fifty day moving average of $58.68 and a two-hundred day moving average of $45.57.

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

Flexsteel Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Saturday, December 28th will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $0.68 annualized dividend and a dividend yield of 1.25%. Flexsteel Industries’s dividend payout ratio (DPR) is 26.88%.

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.