Flexsteel Industries, Inc. (NASDAQ:FLXS) Sees Significant Growth in Short Interest

Flexsteel Industries, Inc. (NASDAQ:FLXS - Get Free Report) saw a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 61,100 shares, a growth of 8.1% from the November 30th total of 56,500 shares. Currently, 1.8% of the shares of the stock are short sold. Based on an average daily volume of 31,900 shares, the days-to-cover ratio is currently 1.9 days.

Institutional Investors Weigh In On Flexsteel Industries

Institutional investors have recently added to or reduced their stakes in the business. MetLife Investment Management LLC lifted its holdings in shares of Flexsteel Industries by 129.0% during the third quarter. MetLife Investment Management LLC now owns 2,746 shares of the company's stock worth $122,000 after purchasing an additional 1,547 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Flexsteel Industries during the 3rd quarter worth $221,000. Jane Street Group LLC acquired a new position in Flexsteel Industries during the 3rd quarter worth about $228,000. Rhumbline Advisers lifted its holdings in Flexsteel Industries by 1,647.7% during the 2nd quarter. Rhumbline Advisers now owns 5,313 shares of the company's stock worth $165,000 after buying an additional 5,009 shares during the period. Finally, Barclays PLC grew its position in shares of Flexsteel Industries by 20.9% in the 3rd quarter. Barclays PLC now owns 6,147 shares of the company's stock valued at $273,000 after buying an additional 1,061 shares during the last quarter. 36.27% of the stock is owned by institutional investors.

Flexsteel Industries Price Performance

Shares of NASDAQ:FLXS traded down $1.12 during trading on Thursday, hitting $53.22. 26,629 shares of the company were exchanged, compared to its average volume of 31,718. Flexsteel Industries has a 1-year low of $17.55 and a 1-year high of $65.87. The company has a market capitalization of $277.17 million, a P/E ratio of 21.04, a price-to-earnings-growth ratio of 1.57 and a beta of 0.40. The company has a quick ratio of 1.04, a current ratio of 2.84 and a debt-to-equity ratio of 0.02. The business's 50 day moving average is $58.61 and its 200-day moving average is $45.63.

Flexsteel Industries (NASDAQ:FLXS - Get Free Report) last issued its earnings results on Monday, October 21st. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.62 by $0.12. Flexsteel Industries had a return on equity of 10.09% and a net margin of 3.30%. The business had revenue of $104.01 million during the quarter, compared to analysts' expectations of $101.60 million. During the same quarter in the prior year, the firm earned $0.14 EPS. Equities analysts forecast that Flexsteel Industries will post 3.25 earnings per share for the current year.

Flexsteel Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Saturday, December 28th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $0.68 dividend on an annualized basis and a yield of 1.28%. Flexsteel Industries's dividend payout ratio (DPR) is presently 26.88%.

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.