Flexsteel Industries (NASDAQ:FLXS) Share Price Crosses Above Two Hundred Day Moving Average - Time to Sell?

Flexsteel Industries, Inc. (NASDAQ:FLXS - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $49.37 and traded as high as $55.00. Flexsteel Industries shares last traded at $52.29, with a volume of 38,106 shares.

Flexsteel Industries Trading Down 3.3 %

The company has a market capitalization of $272.20 million, a price-to-earnings ratio of 14.43, a PEG ratio of 1.33 and a beta of 0.39. The company's 50 day simple moving average is $54.23 and its 200-day simple moving average is $49.68.

Flexsteel Industries (NASDAQ:FLXS - Get Free Report) last released its earnings results on Monday, February 3rd. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.21. Flexsteel Industries had a net margin of 4.63% and a return on equity of 11.25%. Sell-side analysts anticipate that Flexsteel Industries, Inc. will post 3.53 EPS for the current year.

Flexsteel Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Saturday, December 28th were given a $0.17 dividend. The ex-dividend date was Friday, December 27th. This represents a $0.68 annualized dividend and a dividend yield of 1.32%. Flexsteel Industries's dividend payout ratio is presently 18.99%.

Institutional Investors Weigh In On Flexsteel Industries

Hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. boosted its position in shares of Flexsteel Industries by 226.6% in the third quarter. JPMorgan Chase & Co. now owns 21,408 shares of the company's stock worth $948,000 after acquiring an additional 14,853 shares during the last quarter. Jane Street Group LLC acquired a new position in Flexsteel Industries during the third quarter valued at approximately $228,000. Ritholtz Wealth Management lifted its position in Flexsteel Industries by 35.8% during the fourth quarter. Ritholtz Wealth Management now owns 14,144 shares of the company's stock valued at $769,000 after buying an additional 3,728 shares in the last quarter. State Street Corp lifted its position in Flexsteel Industries by 17.9% during the third quarter. State Street Corp now owns 58,687 shares of the company's stock valued at $2,609,000 after buying an additional 8,917 shares in the last quarter. Finally, Barclays PLC lifted its position in Flexsteel Industries by 20.9% during the third quarter. Barclays PLC now owns 6,147 shares of the company's stock valued at $273,000 after buying an additional 1,061 shares in the last quarter. 36.27% of the stock is owned by institutional investors and hedge funds.

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.