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

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

Flexsteel Industries Price Performance

Shares of NASDAQ:FLXS opened at $54.34 on Thursday. The company has a quick ratio of 1.04, a current ratio of 2.84 and a debt-to-equity ratio of 0.02. The company has a market cap of $283.00 million, a P/E ratio of 21.48, a PEG ratio of 1.57 and a beta of 0.40. Flexsteel Industries has a 52 week low of $17.55 and a 52 week high of $65.87. The company has a 50-day moving average price of $58.68 and a 200 day moving average price of $45.57.

Flexsteel Industries (NASDAQ:FLXS) last issued its earnings results on Monday, October 21st. The company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $101.60 million. During the same period last year, the company posted $0.14 earnings per share. Research analysts predict 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. Shareholders of record on Saturday, December 28th will be issued a $0.17 dividend. The ex-dividend date is Friday, December 27th. This represents a $0.68 dividend on an annualized basis and a yield of 1.25%. Flexsteel Industries’s dividend payout ratio (DPR) is presently 26.88%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in FLXS. Bank of New York Mellon Corp purchased a new position in shares of Flexsteel Industries during the 2nd quarter worth approximately $425,000. Ritholtz Wealth Management acquired a new position in shares of Flexsteel Industries during the 2nd quarter worth approximately $219,000. Rhumbline Advisers raised its position in shares of Flexsteel Industries by 1,647.7% during the 2nd quarter. Rhumbline Advisers now owns 5,313 shares of the company’s stock worth $165,000 after purchasing an additional 5,009 shares during the last quarter. Acadian Asset Management LLC raised its position in shares of Flexsteel Industries by 8.3% during the 2nd quarter. Acadian Asset Management LLC now owns 12,694 shares of the company’s stock worth $393,000 after purchasing an additional 968 shares during the last quarter. Finally, American Century Companies Inc. raised its position in shares of Flexsteel Industries by 185.1% during the 2nd quarter. American Century Companies Inc. now owns 46,521 shares of the company’s stock worth $1,445,000 after purchasing an additional 30,203 shares during the last quarter. 36.27% of the stock is owned by hedge funds and other institutional investors.

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.