Short Interest in Flexsteel Industries, Inc. (NASDAQ:FLXS) Decreases By 13.1%

Flexsteel Industries, Inc. (NASDAQ:FLXS) was the recipient of a significant decline in short interest during the month of January. As of January 30th, there was short interest totaling 91,448 shares, a decline of 13.1% from the January 15th total of 105,293 shares. Approximately 1.9% of the shares of the stock are sold short. Based on an average daily volume of 17,979 shares, the days-to-cover ratio is presently 5.1 days. Based on an average daily volume of 17,979 shares, the days-to-cover ratio is presently 5.1 days. Approximately 1.9% of the shares of the stock are sold short.

Institutional Investors Weigh In On Flexsteel Industries

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. LSV Asset Management increased its position in shares of Flexsteel Industries by 1,977.8% during the second quarter. LSV Asset Management now owns 18,700 shares of the company’s stock worth $674,000 after acquiring an additional 17,800 shares during the period. Acadian Asset Management LLC raised its position in Flexsteel Industries by 16.2% during the 2nd quarter. Acadian Asset Management LLC now owns 59,971 shares of the company’s stock valued at $2,159,000 after purchasing an additional 8,366 shares in the last quarter. Los Angeles Capital Management LLC lifted its holdings in shares of Flexsteel Industries by 12.7% in the 2nd quarter. Los Angeles Capital Management LLC now owns 42,939 shares of the company’s stock worth $1,547,000 after buying an additional 4,840 shares during the period. SummerHaven Investment Management LLC bought a new position in shares of Flexsteel Industries during the 3rd quarter worth $991,000. Finally, Inspire Investing LLC bought a new position in shares of Flexsteel Industries during the 3rd quarter worth $955,000. Institutional investors own 36.27% of the company’s stock.

Flexsteel Industries Trading Down 0.6%

FLXS stock opened at $57.25 on Wednesday. Flexsteel Industries has a 12 month low of $29.38 and a 12 month high of $59.95. The stock has a market cap of $306.00 million, a PE ratio of 15.60, a P/E/G ratio of 1.17 and a beta of 0.51. The company has a 50-day moving average price of $43.56 and a 200 day moving average price of $41.79.

Flexsteel Industries (NASDAQ:FLXS) last announced its earnings results on Monday, February 2nd. The company reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.39. The business had revenue of $118.25 million during the quarter, compared to analyst estimates of $107.51 million. Flexsteel Industries had a return on equity of 16.67% and a net margin of 4.58%. Sell-side analysts forecast that Flexsteel Industries will post 3.53 EPS for the current year.

Flexsteel Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 8th. Stockholders of record on Monday, December 29th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Monday, December 29th. Flexsteel Industries’s dividend payout ratio (DPR) is 21.80%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on FLXS shares. Zacks Research raised Flexsteel Industries from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 5th. Wall Street Zen upgraded shares of Flexsteel Industries from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 7th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Flexsteel Industries in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy”.

About Flexsteel Industries

Flexsteel Industries, Inc (NASDAQ: FLXS) is a U.S.-based furniture manufacturer specializing in the design, production, and marketing of residential upholstered furniture and wood casegoods. The company operates through two primary segments: Upholstery, which encompasses seating products such as sofas, loveseats, chairs, recliners, and sectionals; and Casegoods, which includes accent and occasional tables, cabinets, bookcases, and other wood-based furnishings. Flexsteel sells its products through a network of independent retailers, furniture stores, and distributors across North America.

Flexsteel’s upholstery segment is distinguished by its patented Blue Steel Spring® technology, which offers enhanced longevity and comfort by replacing conventional webbing and springs with a welded steel seat suspension.