Short Interest in Flexsteel Industries, Inc. (NASDAQ:FLXS) Grows By 8.1%

Flexsteel Industries, Inc. (NASDAQ:FLXS) was the recipient of a significant increase in short interest in December. As of December 15th, there was short interest totalling 61,100 shares, an increase of 8.1% from the November 30th total of 56,500 shares. Based on an average daily trading volume, of 31,900 shares, the days-to-cover ratio is currently 1.9 days. Currently, 1.8% of the shares of the stock are sold short.

Institutional Trading of Flexsteel Industries

Several institutional investors and hedge funds have recently modified their holdings of the business. MetLife Investment Management LLC increased its position in shares of Flexsteel Industries by 129.0% in the third quarter. MetLife Investment Management LLC now owns 2,746 shares of the company’s stock worth $122,000 after purchasing an additional 1,547 shares during the last quarter. Rhumbline Advisers raised its position in shares of Flexsteel Industries by 1,647.7% during the 2nd quarter. Rhumbline Advisers now owns 5,313 shares of the company’s stock valued at $165,000 after buying an additional 5,009 shares in the last quarter. Marshall Wace LLP purchased a new stake in shares of Flexsteel Industries during the 2nd quarter valued at $217,000. Ritholtz Wealth Management bought a new stake in shares of Flexsteel Industries during the 2nd quarter worth $219,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Flexsteel Industries in the third quarter worth $221,000. Hedge funds and other institutional investors own 36.27% of the company’s stock.

Flexsteel Industries Price Performance

FLXS stock opened at $54.34 on Thursday. The firm has a 50 day moving average of $58.68 and a 200-day moving average of $45.57. The firm has a market capitalization of $283.00 million, a P/E ratio of 21.48, a price-to-earnings-growth ratio of 1.57 and a beta of 0.40. Flexsteel Industries has a 12 month low of $17.55 and a 12 month high of $65.87. The company has a current ratio of 2.84, a quick ratio of 1.04 and a debt-to-equity ratio of 0.02.

Flexsteel Industries (NASDAQ:FLXS) last announced its quarterly earnings results on Monday, October 21st. The company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.62 by $0.12. The firm had revenue of $104.01 million during the quarter, compared to the consensus estimate of $101.60 million. Flexsteel Industries had a net margin of 3.30% and a return on equity of 10.09%. During the same period last year, the firm earned $0.14 EPS. As a group, sell-side analysts predict that Flexsteel Industries will post 3.25 earnings per share for the current fiscal year.

Flexsteel Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Saturday, December 28th will be paid a $0.17 dividend. The ex-dividend date is Friday, December 27th. This represents a $0.68 dividend on an annualized basis and a yield of 1.25%. Flexsteel Industries’s dividend payout ratio is currently 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.