Flexsteel Industries (NASDAQ:FLXS) Share Price Crosses Below 200-Day Moving Average of $31.59

Flexsteel Industries, Inc. (NASDAQ:FLXS - Get Free Report) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $31.59 and traded as low as $30.43. Flexsteel Industries shares last traded at $31.06, with a volume of 646,437 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Flexsteel Industries from a "buy" rating to a "hold" rating in a research report on Tuesday, June 4th.

Flexsteel Industries Price Performance

The company has a debt-to-equity ratio of 0.10, a current ratio of 2.79 and a quick ratio of 0.99. The company's 50-day simple moving average is $34.81 and its 200-day simple moving average is $31.69. The stock has a market capitalization of $160.27 million, a P/E ratio of 10.53, a price-to-earnings-growth ratio of 1.22 and a beta of 0.50.

Flexsteel Industries (NASDAQ:FLXS - Get Free Report) last released its quarterly earnings results on Monday, April 29th. The company reported $0.67 EPS for the quarter, beating the consensus estimate of $0.56 by $0.11. Flexsteel Industries had a net margin of 3.87% and a return on equity of 6.54%. The business had revenue of $107.22 million for the quarter, compared to the consensus estimate of $102.11 million. As a group, sell-side analysts expect that Flexsteel Industries, Inc. will post 2.09 EPS for the current fiscal year.

Flexsteel Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 8th. Stockholders of record on Wednesday, June 26th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, June 26th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.93%. Flexsteel Industries's dividend payout ratio (DPR) is currently 20.34%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Marion Wealth Management lifted its position in shares of Flexsteel Industries by 7.1% in the 1st quarter. Marion Wealth Management now owns 29,837 shares of the company's stock worth $1,113,000 after purchasing an additional 1,979 shares during the period. Empowered Funds LLC lifted its position in shares of Flexsteel Industries by 7.7% in the 1st quarter. Empowered Funds LLC now owns 19,536 shares of the company's stock worth $729,000 after purchasing an additional 1,400 shares during the period. Acadian Asset Management LLC acquired a new position in shares of Flexsteel Industries during the 1st quarter valued at $435,000. Heron Bay Capital Management acquired a new position in shares of Flexsteel Industries during the 1st quarter valued at $298,000. Finally, Weitzel Financial Services Inc. acquired a new position in shares of Flexsteel Industries during the 1st quarter valued at $264,000. Institutional investors own 36.27% of the company's stock.

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.