Shares of Flexsteel Industries, Inc. (NASDAQ:FLXS – Get Rating) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $17.72 and traded as low as $14.85. Flexsteel Industries shares last traded at $15.36, with a volume of 2,957 shares.
Wall Street Analyst Weigh In
FLXS has been the topic of a number of research reports. StockNews.com initiated coverage on Flexsteel Industries in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. TheStreet downgraded Flexsteel Industries from a “c” rating to a “d+” rating in a research report on Monday, August 29th.
Flexsteel Industries Trading Up 2.1 %
The firm has a fifty day simple moving average of $15.26 and a two-hundred day simple moving average of $17.72. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.04 and a quick ratio of 0.91. The firm has a market capitalization of $80.99 million, a P/E ratio of -49.55, a price-to-earnings-growth ratio of 1.01 and a beta of 0.62.
Flexsteel Industries Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 10th. Stockholders of record on Wednesday, September 28th were issued a $0.15 dividend. The ex-dividend date of this dividend was Tuesday, September 27th. This represents a $0.60 annualized dividend and a dividend yield of 3.91%. Flexsteel Industries’s dividend payout ratio is currently -193.54%.
Institutional Trading of Flexsteel Industries
Several large investors have recently modified their holdings of the business. UBS Group AG boosted its position in Flexsteel Industries by 90.7% during the 3rd quarter. UBS Group AG now owns 2,090 shares of the company’s stock valued at $33,000 after acquiring an additional 994 shares in the last quarter. Price T Rowe Associates Inc. MD bought a new stake in shares of Flexsteel Industries in the 2nd quarter worth approximately $202,000. Delphia USA Inc. bought a new stake in shares of Flexsteel Industries in the 2nd quarter worth approximately $182,000. Citadel Advisors LLC purchased a new position in Flexsteel Industries in the 2nd quarter worth approximately $268,000. Finally, Millennium Management LLC purchased a new position in Flexsteel Industries in the 2nd quarter worth approximately $1,380,000. 41.78% of the stock is owned by institutional investors.
Flexsteel Industries Company Profile
Flexsteel Industries, Inc, together with its subsidiaries, operates as a manufacturer, importer, and online marketer of upholstered furniture for residential and contract markets in the United States. It provides upholstered furniture, such as sofas, loveseats, chairs, reclining and rocker-reclining chairs, swivel rockers, sofa beds, convertible bedding units, occasional tables, desks, dining tables and chairs, kitchen storage, bedroom furniture, and outdoor furniture.
- Get a free copy of the StockNews.com research report on Flexsteel Industries (FLXS)
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