Flexsteel Industries (NASDAQ:FLXS) Share Price Crosses Below 200 Day Moving Average - Should You Sell?

Flexsteel Industries, Inc. (NASDAQ:FLXS - Get Free Report)'s stock price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $50.62 and traded as low as $38.39. Flexsteel Industries shares last traded at $38.60, with a volume of 10,707 shares changing hands.

Flexsteel Industries Stock Down 2.5 %

The firm has a market cap of $200.43 million, a price-to-earnings ratio of 10.63, a price-to-earnings-growth ratio of 1.14 and a beta of 0.31. The business has a 50 day moving average of $47.69 and a 200 day moving average of $50.45.

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, beating analysts' consensus estimates of $0.74 by $0.21. Flexsteel Industries had a net margin of 4.63% and a return on equity of 11.25%. Research analysts predict that Flexsteel Industries, Inc. will post 3.53 earnings per share for the current year.

Flexsteel Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Wednesday, March 26th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Wednesday, March 26th. This represents a $0.68 annualized dividend and a yield of 1.79%. Flexsteel Industries's payout ratio is currently 18.99%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Bank of New York Mellon Corp grew its position in shares of Flexsteel Industries by 275.7% in the fourth quarter. Bank of New York Mellon Corp now owns 47,919 shares of the company's stock valued at $2,604,000 after purchasing an additional 35,166 shares during the period. American Century Companies Inc. boosted its stake in Flexsteel Industries by 33.2% in the 4th quarter. American Century Companies Inc. now owns 98,202 shares of the company's stock worth $5,336,000 after buying an additional 24,492 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Flexsteel Industries by 15.8% in the 4th quarter. Renaissance Technologies LLC now owns 161,300 shares of the company's stock valued at $8,765,000 after buying an additional 22,000 shares during the period. Hillsdale Investment Management Inc. increased its stake in shares of Flexsteel Industries by 792.0% during the 4th quarter. Hillsdale Investment Management Inc. now owns 24,056 shares of the company's stock valued at $1,307,000 after acquiring an additional 21,359 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Flexsteel Industries by 93.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 39,160 shares of the company's stock worth $2,128,000 after acquiring an additional 18,903 shares during the period. Hedge funds and other institutional investors own 36.27% of the company's stock.

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About Flexsteel Industries

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.