Flexsteel Industries, Inc. (NASDAQ:FLXS – Get Rating) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $17.41 and traded as low as $15.33. Flexsteel Industries shares last traded at $15.49, with a volume of 5,642 shares.
Analyst Ratings Changes
A number of equities analysts have weighed in on the company. TheStreet cut Flexsteel Industries from a “c” rating to a “d+” rating in a report on Monday, August 29th. StockNews.com started coverage on Flexsteel Industries in a research note on Wednesday, October 12th. They set a “hold” rating for the company.
Flexsteel Industries Price Performance
The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.91 and a current ratio of 3.04. The company has a 50 day moving average price of $15.06 and a 200 day moving average price of $17.40.
Flexsteel Industries Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, October 10th. Investors of record on Wednesday, September 28th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.82%. The ex-dividend date was Tuesday, September 27th. Flexsteel Industries’s dividend payout ratio is currently -193.54%.
Institutional Investors Weigh In On Flexsteel Industries
Several institutional investors and hedge funds have recently made changes to their positions in FLXS. Millennium Management LLC acquired a new stake in shares of Flexsteel Industries during the 2nd quarter valued at approximately $1,380,000. BlackRock Inc. raised its position in shares of Flexsteel Industries by 38.3% during the 3rd quarter. BlackRock Inc. now owns 146,344 shares of the company’s stock valued at $2,297,000 after acquiring an additional 40,540 shares in the last quarter. Marion Wealth Management acquired a new stake in shares of Flexsteel Industries during the 2nd quarter valued at approximately $379,000. Citadel Advisors LLC acquired a new stake in shares of Flexsteel Industries during the 2nd quarter valued at approximately $268,000. Finally, Trexquant Investment LP acquired a new stake in shares of Flexsteel Industries during the 3rd quarter valued at approximately $183,000. 41.78% of the stock is owned by institutional investors and hedge funds.
About Flexsteel Industries
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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