Flexsteel Industries, Inc. (NASDAQ:FLXS) Short Interest Up 8.1% in December

Flexsteel Industries, Inc. (NASDAQ:FLXS) saw a large growth in short interest during the month of 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. Based on an average daily trading volume, of 31,900 shares, the days-to-cover ratio is presently 1.9 days. Currently, 1.8% of the shares of the stock are short sold.

Flexsteel Industries Trading Down 0.3 %

Shares of FLXS opened at $54.34 on Thursday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.04 and a current ratio of 2.84. Flexsteel Industries has a fifty-two week low of $17.55 and a fifty-two week high of $65.87. The firm has a 50 day moving average price of $58.68 and a 200-day moving average price of $45.57. The firm has a market cap of $283.00 million, a price-to-earnings ratio of 21.48, a PEG ratio of 1.57 and a beta of 0.40.

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

Flexsteel Industries Dividend Announcement

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

Hedge Funds Weigh In On Flexsteel Industries

Hedge funds and other institutional investors have recently modified their holdings of the stock. State Street Corp lifted its holdings in Flexsteel Industries by 17.9% in 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 position 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 valued at $1,445,000 after purchasing an additional 30,203 shares in the last quarter. FMR LLC grew its stake in Flexsteel Industries by 26.0% in the third quarter. FMR LLC now owns 37,450 shares of the company’s stock worth $1,659,000 after purchasing an additional 7,723 shares during the period. Marion Wealth Management grew its stake in Flexsteel Industries by 3.6% in the third quarter. Marion Wealth Management now owns 31,660 shares of the company’s stock worth $1,402,000 after purchasing an additional 1,101 shares during the period. Finally, Empowered Funds LLC raised its holdings in Flexsteel Industries by 5.1% in the third quarter. Empowered Funds LLC now owns 22,048 shares of the company’s stock worth $977,000 after purchasing an additional 1,072 shares in 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.