Flexsteel Industries, Inc. (NASDAQ:FLXS) Sees Significant Increase in Short Interest

Flexsteel Industries, Inc. (NASDAQ:FLXSGet Free Report) was the recipient of a significant increase in short interest in the month of April. As of April 30th, there was short interest totalling 36,600 shares, an increase of 5.5% from the April 15th total of 34,700 shares. Currently, 1.0% of the company’s shares are sold short. Based on an average trading volume of 27,800 shares, the short-interest ratio is currently 1.3 days.

Flexsteel Industries Trading Down 0.6 %

Shares of Flexsteel Industries stock opened at $35.50 on Friday. Flexsteel Industries has a 1 year low of $15.67 and a 1 year high of $41.64. The company has a market capitalization of $183.18 million, a price-to-earnings ratio of 12.03, a P/E/G ratio of 1.42 and a beta of 0.58. The business has a fifty day simple moving average of $36.73 and a two-hundred day simple moving average of $28.28. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.79 and a quick ratio of 0.99.

Flexsteel Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Tuesday, March 26th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend was Monday, March 25th. Flexsteel Industries’s payout ratio is 20.34%.

Wall Street Analyst Weigh In

Several analysts have issued reports on FLXS shares. StockNews.com raised Flexsteel Industries from a “hold” rating to a “buy” rating in a research note on Thursday. TheStreet upgraded Flexsteel Industries from a “c” rating to a “b-” rating in a research note on Monday, February 5th.

View Our Latest Stock Analysis on Flexsteel Industries

Hedge Funds Weigh In On Flexsteel Industries

Several institutional investors and hedge funds have recently modified their holdings of FLXS. Barclays PLC acquired a new position in Flexsteel Industries in the 3rd quarter valued at $40,000. Victory Capital Management Inc. bought a new position in shares of Flexsteel Industries in the fourth quarter worth $92,000. Denali Advisors LLC acquired a new position in Flexsteel Industries in the first quarter valued at about $127,000. Hillsdale Investment Management Inc. bought a new stake in Flexsteel Industries during the first quarter worth about $195,000. Finally, Weitzel Financial Services Inc. acquired a new stake in Flexsteel Industries during the first quarter worth about $264,000. 36.27% of the stock is currently owned by institutional investors and hedge funds.

About Flexsteel Industries

(Get Free Report)

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.

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