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

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Flexsteel Industries

Large investors have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA grew its holdings in Flexsteel Industries by 109.6% in the second quarter. BNP Paribas Arbitrage SA now owns 2,257 shares of the company's stock worth $41,000 after purchasing an additional 1,180 shares during the period. Bank of America Corp DE grew its holdings in Flexsteel Industries by 49.4% in the first quarter. Bank of America Corp DE now owns 5,659 shares of the company's stock worth $109,000 after purchasing an additional 1,871 shares during the period. First Community Trust NA grew its holdings in Flexsteel Industries by 151.5% in the first quarter. First Community Trust NA now owns 6,641 shares of the company's stock worth $128,000 after purchasing an additional 4,000 shares during the period. Delphia USA Inc. bought a new position in shares of Flexsteel Industries in the second quarter valued at $182,000. Finally, Price T Rowe Associates Inc. MD bought a new position in shares of Flexsteel Industries in the second quarter valued at $202,000. 41.78% of the stock is currently owned by institutional investors and hedge funds.

Flexsteel Industries Trading Up 0.5 %

Flexsteel Industries (NASDAQ:FLXS – Get Rating) last posted its quarterly earnings data on Monday, August 22nd. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate 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 firm earned $0.61 EPS. On average, research analysts expect that Flexsteel Industries will post 1.25 EPS for the current year.

Flexsteel Industries Announces Dividend

The business 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 $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date of this dividend is Tuesday, September 27th. Flexsteel Industries's payout ratio is 240.00%.

About Flexsteel Industries

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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.

Further Reading

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