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Flexsteel Industries, Inc. (NASDAQ:FLXS) Sees Large Decline in Short Interest

Financial News Live · Oct 1, 2022 22:22

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.

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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 %

Shares of FLXS traded up $0.08 during trading hours on Friday, hitting $15.70. 21,161 shares of the stock were exchanged, compared to its average volume of 16,798. Flexsteel Industries has a fifty-two week low of $14.88 and a fifty-two week high of $31.65. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.94 and a quick ratio of 0.76. The business has a 50-day moving average of $17.15 and a 200-day moving average of $18.89. The firm has a market capitalization of $83.21 million, a P/E ratio of 62.80, a price-to-earnings-growth ratio of 1.04 and a beta of 0.64.

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.