Flexsteel Industries, Inc. (NASDAQ:FLXS) Short Interest Up 8.1% in December

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

Hedge Funds Weigh In On Flexsteel Industries

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FLXS. MetLife Investment Management LLC lifted its position in shares of Flexsteel Industries by 129.0% during the 3rd quarter. MetLife Investment Management LLC now owns 2,746 shares of the company’s stock worth $122,000 after buying an additional 1,547 shares during the last quarter. Rhumbline Advisers raised its stake 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 acquiring an additional 5,009 shares in the last quarter. Marshall Wace LLP purchased a new stake in Flexsteel Industries in the second quarter valued at $217,000. Ritholtz Wealth Management purchased a new stake in Flexsteel Industries in the second quarter valued at $219,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Flexsteel Industries in the third quarter valued at $221,000. 36.27% of the stock is owned by institutional investors and hedge funds.

Flexsteel Industries Price Performance

FLXS stock opened at $54.34 on Thursday. Flexsteel Industries has a 1 year low of $17.55 and a 1 year high of $65.87. The firm has a market capitalization of $283.00 million, a P/E ratio of 21.48, a P/E/G ratio of 1.57 and a beta of 0.40. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.84 and a quick ratio of 1.04. The business’s 50-day moving average is $58.68 and its two-hundred day moving average is $45.57.

Flexsteel Industries (NASDAQ:FLXS) last issued its quarterly 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 net margin of 3.30% and a return on equity of 10.09%. The company had revenue of $104.01 million during the quarter, compared to the consensus estimate of $101.60 million. During the same quarter in the previous year, the firm earned $0.14 earnings per share. Analysts anticipate that Flexsteel Industries will post 3.25 earnings per share for the current fiscal year.

Flexsteel Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Saturday, December 28th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Friday, December 27th. Flexsteel Industries’s payout ratio is 26.88%.

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.