Flexsteel Industries, Inc. (NASDAQ:FLXS) was the target of a large growth in short interest in June. As of June 30th, there was short interest totalling 73,600 shares, a growth of 48.7% from the May 30th total of 49,500 shares. Based on an average daily volume of 26,100 shares, the days-to-cover ratio is currently 2.8 days. Approximately 1.0% of the shares of the company are sold short.

Hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA increased its holdings in Flexsteel Industries by 508.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 1,533 shares of the company’s stock valued at $36,000 after buying an additional 1,281 shares during the period. Bank of America Corp DE grew its holdings in shares of Flexsteel Industries by 43.3% during the 4th quarter. Bank of America Corp DE now owns 6,336 shares of the company’s stock valued at $141,000 after purchasing an additional 1,914 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Flexsteel Industries by 44.6% during the 4th quarter. Rhumbline Advisers now owns 10,440 shares of the company’s stock valued at $231,000 after purchasing an additional 3,218 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Flexsteel Industries by 19.1% during the 4th quarter. First Trust Advisors LP now owns 13,216 shares of the company’s stock valued at $292,000 after purchasing an additional 2,121 shares during the last quarter. Finally, Two Sigma Advisers LP grew its holdings in shares of Flexsteel Industries by 50.5% during the 4th quarter. Two Sigma Advisers LP now owns 16,700 shares of the company’s stock valued at $369,000 after purchasing an additional 5,600 shares during the last quarter. 63.65% of the stock is currently owned by hedge funds and other institutional investors.

FLXS stock traded up $0.21 during mid-day trading on Thursday, hitting $16.75. The stock had a trading volume of 12,600 shares, compared to its average volume of 25,187. Flexsteel Industries has a 52 week low of $16.04 and a 52 week high of $40.42. The stock has a market capitalization of $131.59 million, a price-to-earnings ratio of 22.45 and a beta of 1.57. The stock’s fifty day moving average is $17.39.

Flexsteel Industries (NASDAQ:FLXS) last released its earnings results on Monday, April 29th. The company reported $0.12 EPS for the quarter. Flexsteel Industries had a negative net margin of 2.30% and a positive return on equity of 2.52%. The firm had revenue of $111.54 million for the quarter.

The company also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 5.25%. The ex-dividend date of this dividend was Thursday, June 13th.

Several brokerages have weighed in on FLXS. TheStreet cut shares of UDR from a “b” rating to a “c” rating in a research note on Tuesday, April 30th. ValuEngine upgraded shares of Alleghany from a “hold” rating to a “buy” rating in a research note on Friday, April 19th.

Flexsteel Industries Company Profile

Flexsteel Industries, Inc, together with its subsidiaries, manufactures, imports, and markets residential and contract upholstered and wood furniture products in the United States. It offers its products for use in home, hotel, healthcare, recreational vehicle, marine, and office applications. The company distributes its products through its sales force and independent representatives.

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