Flexsteel Industries, Inc. (NASDAQ:FLXS) Short Interest Down 6.6% in November

Flexsteel Industries, Inc. (NASDAQ:FLXS) was the target of a significant decline in short interest in the month of November. As of November 15th, there was short interest totalling 74,000 shares, a decline of 6.6% from the October 31st total of 79,200 shares. Based on an average daily trading volume, of 29,900 shares, the short-interest ratio is presently 2.5 days. Currently, 2.1% of the shares of the company are sold short.

Institutional Trading of Flexsteel Industries

Hedge funds and other institutional investors have recently bought and sold shares of the stock. MetLife Investment Management LLC lifted its holdings in Flexsteel Industries by 129.0% in the third quarter. MetLife Investment Management LLC now owns 2,746 shares of the company’s stock valued at $122,000 after acquiring an additional 1,547 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Flexsteel Industries in the 3rd quarter valued at $221,000. Jane Street Group LLC acquired a new position in shares of Flexsteel Industries in the 3rd quarter valued at $228,000. Rhumbline Advisers boosted its holdings in Flexsteel Industries by 1,647.7% during the second quarter. Rhumbline Advisers now owns 5,313 shares of the company’s stock worth $165,000 after buying an additional 5,009 shares in the last quarter. Finally, Barclays PLC grew its holdings in Flexsteel Industries by 20.9% in the third quarter. Barclays PLC now owns 6,147 shares of the company’s stock valued at $273,000 after purchasing an additional 1,061 shares during the period. 36.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Flexsteel Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, August 21st.

Flexsteel Industries Trading Up 2.3 %

Shares of NASDAQ:FLXS opened at $62.12 on Wednesday. The business has a 50-day moving average price of $52.52 and a 200-day moving average price of $42.08. The stock has a market cap of $323.52 million, a price-to-earnings ratio of 24.55, a PEG ratio of 1.56 and a beta of 0.40. Flexsteel Industries has a 52-week low of $17.00 and a 52-week high of $63.00. The company has a quick ratio of 1.04, a current ratio of 2.84 and a debt-to-equity ratio of 0.02.

Flexsteel Industries (NASDAQ:FLXS) last released its quarterly earnings data on Monday, October 21st. The company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.12. The firm had revenue of $104.01 million for the quarter, compared to analyst estimates of $101.60 million. Flexsteel Industries had a net margin of 3.30% and a return on equity of 10.09%. During the same quarter in the prior year, the business earned $0.14 earnings per share. Equities analysts predict that Flexsteel Industries will post 3.25 EPS for the current year.

Flexsteel Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Wednesday, September 25th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend was Wednesday, September 25th. This is a boost from Flexsteel Industries’s previous quarterly dividend of $0.15. Flexsteel Industries’s payout ratio is 26.88%.

Flexsteel Industries Company Profile

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.