Flexsteel Industries (NASDAQ:FLXS) Stock Passes Below Two Hundred Day Moving Average of $31.59

Flexsteel Industries, Inc. (NASDAQ:FLXS) shares 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.

Wall Street Analyst Weigh In

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

Flexsteel Industries Trading Up 1.5 %

The company has a quick ratio of 0.99, a current ratio of 2.79 and a debt-to-equity ratio of 0.10. The firm’s 50 day simple moving average is $34.81 and its 200-day simple moving average is $31.59. The company has a market capitalization of $160.27 million, a PE ratio of 10.53, a P/E/G ratio of 1.22 and a beta of 0.50.

Flexsteel Industries (NASDAQ:FLXS) last released its quarterly earnings data on Monday, April 29th. The company reported $0.67 earnings per share (EPS) for the quarter, topping 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 company had revenue of $107.22 million during the quarter, compared to the consensus estimate of $102.11 million. As a group, equities research analysts anticipate that Flexsteel Industries, Inc. will post 2.09 EPS for the current year.

Flexsteel Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 8th. Shareholders of record on Wednesday, June 26th will be paid a dividend of $0.15 per share. The ex-dividend date is Wednesday, June 26th. This represents a $0.60 annualized dividend and a yield of 1.93%. Flexsteel Industries’s dividend payout ratio is currently 20.34%.

Institutional Investors Weigh In On Flexsteel Industries

Institutional investors have recently bought and sold shares of the business. Heron Bay Capital Management purchased a new position in shares of Flexsteel Industries in the first quarter valued at $298,000. Hillsdale Investment Management Inc. purchased a new position in shares of Flexsteel Industries in the first quarter valued at $195,000. Acadian Asset Management LLC purchased a new position in shares of Flexsteel Industries in the first quarter valued at $435,000. Empowered Funds LLC boosted its stake in shares of Flexsteel Industries by 7.7% in the first quarter. Empowered Funds LLC now owns 19,536 shares of the company’s stock valued at $729,000 after purchasing an additional 1,400 shares during the period. Finally, Denali Advisors LLC purchased a new position in shares of Flexsteel Industries in the first quarter valued at $127,000. 36.27% of the stock is currently owned by hedge funds and other institutional investors.

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.