Flexsteel Industries (NASDAQ:FLXS) Share Price Passes Above 200-Day Moving Average – Here’s Why

Shares of Flexsteel Industries, Inc. (NASDAQ:FLXS) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $49.37 and traded as high as $55.00. Flexsteel Industries shares last traded at $52.29, with a volume of 38,106 shares changing hands.

Flexsteel Industries Price Performance

The stock has a fifty day simple moving average of $54.74 and a 200-day simple moving average of $49.37. The company has a market capitalization of $275.57 million, a price-to-earnings ratio of 14.61, a P/E/G ratio of 1.33 and a beta of 0.39.

Flexsteel Industries (NASDAQ:FLXS) last posted its earnings results on Monday, February 3rd. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.21. Flexsteel Industries had a net margin of 4.63% and a return on equity of 11.25%. As a group, equities analysts expect that Flexsteel Industries, Inc. will post 3.53 EPS for the current fiscal year.

Flexsteel Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Saturday, December 28th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date was Friday, December 27th. Flexsteel Industries’s dividend payout ratio (DPR) is presently 18.99%.

Hedge Funds Weigh In On Flexsteel Industries

A number of large investors have recently bought and sold shares of FLXS. Geode Capital Management LLC grew its holdings in Flexsteel Industries by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 95,508 shares of the company’s stock valued at $5,191,000 after purchasing an additional 253 shares during the period. O Shaughnessy Asset Management LLC grew its stake in Flexsteel Industries by 23.5% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 27,433 shares of the company’s stock valued at $1,491,000 after acquiring an additional 5,224 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in Flexsteel Industries by 93.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 39,160 shares of the company’s stock worth $2,128,000 after acquiring an additional 18,903 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Flexsteel Industries by 26.2% in the 4th quarter. JPMorgan Chase & Co. now owns 27,014 shares of the company’s stock worth $1,468,000 after acquiring an additional 5,606 shares in the last quarter. Finally, Hillsdale Investment Management Inc. raised its position in Flexsteel Industries by 792.0% during the fourth quarter. Hillsdale Investment Management Inc. now owns 24,056 shares of the company’s stock worth $1,307,000 after acquiring an additional 21,359 shares during the period. Institutional investors and hedge funds own 36.27% of the company’s stock.

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.