Flexsteel Industries, Inc. (NASDAQ:FLXS – Get Rating) saw a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 204,400 shares, a decline of 10.9% from the August 15th total of 229,300 shares. Currently, 5.2% of the company's shares are short sold. Based on an average daily volume of 41,600 shares, the short-interest ratio is presently 4.9 days.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD bought a new stake in Flexsteel Industries in the second quarter worth approximately $202,000. Delphia USA Inc. bought a new position in Flexsteel Industries during the second quarter worth $182,000. Citadel Advisors LLC bought a new position in Flexsteel Industries during the second quarter worth $268,000. Millennium Management LLC acquired a new stake in Flexsteel Industries in the second quarter worth $1,380,000. Finally, BNP Paribas Arbitrage SA increased its stake in Flexsteel Industries by 109.6% in the second quarter. BNP Paribas Arbitrage SA now owns 2,257 shares of the company's stock valued at $41,000 after purchasing an additional 1,180 shares in the last quarter. 41.78% of the stock is owned by institutional investors.

Flexsteel Industries Trading Down 1.2 %

Flexsteel Industries (NASDAQ:FLXS – Get Rating) last issued its quarterly earnings results on Monday, August 22nd. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.43 by ($0.02). Flexsteel Industries had a return on equity of 2.61% and a net margin of 0.34%. During the same quarter last year, the company posted $0.61 earnings per share. On average, equities analysts anticipate that Flexsteel Industries will post 1.25 earnings per share for the current year.

Flexsteel Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 10th. Shareholders of record on Wednesday, September 28th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Tuesday, September 27th. This represents a $0.60 dividend on an annualized basis and a yield of 3.93%. Flexsteel Industries's payout ratio is currently 240.00%.

Flexsteel Industries Company Profile

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Flexsteel Industries, Inc, together with its subsidiaries, operates as a manufacturer, importer, and online marketer of upholstered and wooden furniture for residential and contract markets in the United States. It offers 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, and bedroom furniture.

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