Flexsteel Industries, Inc. (NASDAQ:FLXS) Short Interest Up 50.2% in April

Flexsteel Industries, Inc. (NASDAQ:FLXS) was the target of a significant growth in short interest during the month of April. As of April 15th, there was short interest totalling 34,700 shares, a growth of 50.2% from the March 31st total of 23,100 shares. Based on an average trading volume of 28,200 shares, the short-interest ratio is presently 1.2 days. Currently, 1.0% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on FLXS. StockNews.com lowered shares of Flexsteel Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, April 17th. TheStreet upgraded Flexsteel Industries from a “c” rating to a “b-” rating in a research report on Monday, February 5th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barclays PLC purchased a new stake in shares of Flexsteel Industries in the 3rd quarter worth approximately $40,000. Denali Advisors LLC bought a new position in Flexsteel Industries in the first quarter worth approximately $127,000. Weitzel Financial Services Inc. purchased a new stake in Flexsteel Industries during the first quarter worth $264,000. Marion Wealth Management boosted its position in Flexsteel Industries by 7.1% during the 1st quarter. Marion Wealth Management now owns 29,837 shares of the company’s stock valued at $1,113,000 after acquiring an additional 1,979 shares in the last quarter. Finally, Victory Capital Management Inc. purchased a new position in shares of Flexsteel Industries in the 4th quarter valued at $92,000. 36.27% of the stock is currently owned by institutional investors.

Flexsteel Industries Trading Up 3.8 %

FLXS traded up $1.42 on Monday, reaching $39.03. 20,675 shares of the company traded hands, compared to its average volume of 29,166. The company has a market cap of $201.00 million, a P/E ratio of 12.97, a price-to-earnings-growth ratio of 1.61 and a beta of 0.53. The company has a quick ratio of 0.90, a current ratio of 3.07 and a debt-to-equity ratio of 0.12. Flexsteel Industries has a one year low of $15.67 and a one year high of $41.64. The firm has a fifty day simple moving average of $36.44 and a two-hundred day simple moving average of $26.74.

Flexsteel Industries (NASDAQ:FLXS) last released its quarterly earnings data on Monday, February 5th. The company reported $0.57 EPS for the quarter, hitting the consensus estimate of $0.57. The company had revenue of $100.11 million for the quarter, compared to the consensus estimate of $100.09 million. Flexsteel Industries had a return on equity of 5.13% and a net margin of 3.86%. As a group, equities research analysts expect that Flexsteel Industries will post 1.95 earnings per share for the current year.

Flexsteel Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Tuesday, March 26th were issued a $0.15 dividend. The ex-dividend date of this dividend was Monday, March 25th. This represents a $0.60 annualized dividend and a dividend yield of 1.54%. Flexsteel Industries’s payout ratio is currently 20.69%.

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.