The Dixie Group, Inc. (NASDAQ:DXYN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Tuesday.

According to Zacks, “Dixie Group Inc. is a leading carpet and rug manufacturer and supplier to higher-end residential and commercial customers serviced by Masland Carpets and Fabrica International, to consumers through major retailers under the Bretlin, Globaltex and Alliance Mills brands and to the factory-built housing and recreational vehicle markets through Carriage Carpets. Dixie’s Candlewick Yarns serves specialty carpet yarn customers.(PR) “

The Dixie Group (NASDAQ:DXYN) traded up 1.18% during mid-day trading on Tuesday, hitting $4.30. The stock had a trading volume of 12,867 shares. The firm’s 50-day moving average price is $4.39 and its 200-day moving average price is $3.90. The Dixie Group has a 1-year low of $3.20 and a 1-year high of $5.56. The stock’s market cap is $67.39 million.

The Dixie Group (NASDAQ:DXYN) last announced its earnings results on Thursday, August 3rd. The textile maker reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.03. The Dixie Group had a negative return on equity of 1.62% and a negative net margin of 0.41%. The firm had revenue of $107.20 million for the quarter, compared to the consensus estimate of $107.60 million. During the same quarter in the previous year, the business earned $0.12 EPS. The company’s revenue was up 1.8% compared to the same quarter last year. On average, equities analysts expect that The Dixie Group will post $0.18 earnings per share for the current year.

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A number of institutional investors have recently bought and sold shares of DXYN. Russell Investments Group Ltd. purchased a new position in The Dixie Group during the fourth quarter valued at approximately $493,000. Dimensional Fund Advisors LP increased its position in The Dixie Group by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,091,102 shares of the textile maker’s stock valued at $3,928,000 after buying an additional 12,572 shares during the last quarter. Wells Fargo & Company MN increased its position in The Dixie Group by 4.4% in the first quarter. Wells Fargo & Company MN now owns 1,622,949 shares of the textile maker’s stock valued at $5,842,000 after buying an additional 68,139 shares during the last quarter. Prescott Group Capital Management L.L.C. increased its position in The Dixie Group by 51.0% in the first quarter. Prescott Group Capital Management L.L.C. now owns 192,420 shares of the textile maker’s stock valued at $693,000 after buying an additional 65,000 shares during the last quarter. Finally, Boston Partners increased its position in The Dixie Group by 78.8% in the first quarter. Boston Partners now owns 505,800 shares of the textile maker’s stock valued at $1,821,000 after buying an additional 222,900 shares during the last quarter. Institutional investors and hedge funds own 62.49% of the company’s stock.

About The Dixie Group

The Dixie Group, Inc is engaged in marketing, manufacturing and selling of carpet and rugs. The Company offers its products to various residential and commercial customers through its various sales forces and brands. The Company operates through the carpet and rug manufacturing segment. The Company also provides carpet and yarn related services to other manufacturers.

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