Flexsteel Industries, Inc. (NASDAQ:FLXS – Get Rating) saw a significant drop in short interest in September. As of September 15th, there was short interest totalling 178,400 shares, a drop of 12.7% from the August 31st total of 204,400 shares. Approximately 4.6% of the shares of the company are sold short. Based on an average daily trading volume, of 36,000 shares, the days-to-cover ratio is currently 5.0 days.

Wall Street Analyst Weigh In

Separately, TheStreet downgraded Flexsteel Industries from a "c" rating to a "d+" rating in a research note on Monday, August 29th.

Flexsteel Industries Trading Up 3.5 %

Shares of Flexsteel Industries stock traded up $0.55 on Monday, reaching $16.25. 14,534 shares of the company's stock were exchanged, compared to its average volume of 38,308. The company has a market capitalization of $86.19 million, a P/E ratio of 64.20, a price-to-earnings-growth ratio of 1.05 and a beta of 0.67. Flexsteel Industries has a 52 week low of $14.88 and a 52 week high of $31.65. The firm's 50-day moving average is $17.15 and its two-hundred day moving average is $18.87. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.76 and a current ratio of 2.94.

Flexsteel Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 10th. Stockholders of record on Wednesday, September 28th will be given a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, September 27th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 3.69%. Flexsteel Industries's dividend payout ratio is currently 240.00%.

Institutional Investors Weigh In On Flexsteel Industries

A number of large investors have recently made changes to their positions in FLXS. State Street Corp boosted its position in shares of Flexsteel Industries by 2.6% during the first quarter. State Street Corp now owns 106,455 shares of the company's stock valued at $2,070,000 after purchasing an additional 2,688 shares in the last quarter. Millennium Management LLC purchased a new position in Flexsteel Industries during the second quarter valued at $1,380,000. Ancora Advisors LLC raised its stake in Flexsteel Industries by 2.5% during the first quarter. Ancora Advisors LLC now owns 24,249 shares of the company's stock valued at $845,000 after buying an additional 593 shares during the last quarter. Citadel Advisors LLC purchased a new position in shares of Flexsteel Industries in the second quarter worth $268,000. Finally, Price T Rowe Associates Inc. MD purchased a new position in shares of Flexsteel Industries in the second quarter worth $202,000. 41.78% of the stock is currently owned by institutional investors.

About Flexsteel Industries

(Get Rating)

Flexsteel Industries, Inc, together with its subsidiaries, operates as a manufacturer, importer, and online marketer of upholstered furniture for residential and contract markets in the United States. It provides upholstered furniture, such as sofas, loveseats, chairs, reclining and rocker-reclining chairs, swivel rockers, sofa beds, convertible bedding units, occasional tables, desks, dining tables and chairs, kitchen storage, bedroom furniture, and outdoor furniture.

Featured Articles

• Get a free copy of the StockNews.com research report on Flexsteel Industries (FLXS)
• Near-Term Headwinds Send Nike To The Bargain Basement
• Archer Daniels Midland: Dividend Hero With 49 Years Of Increases
• Will Fully Autonomous Tractors Make Deere the Tesla of Farming?
• Magna International is Your Auto and EV One-Stop Shop Stock
• Is the Bond Market Signaling a Market Bottom?

Receive News & Ratings for Flexsteel Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flexsteel Industries and related companies with MarketBeat.com's FREE daily email newsletter.