Flexsteel Industries (NASDAQ:FLXS) Stock Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Flexsteel Industries, Inc. (NASDAQ:FLXS)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $49.37 and traded as high as $55.00. Flexsteel Industries shares last traded at $52.29, with a volume of 38,106 shares.

Flexsteel Industries Stock Performance

The company has a 50 day simple moving average of $54.74 and a 200 day simple moving average of $49.37. The company has a market capitalization of $275.57 million, a PE ratio of 14.61, a price-to-earnings-growth ratio of 1.33 and a beta of 0.39.

Flexsteel Industries (NASDAQ:FLXS) last issued its quarterly earnings results on Monday, February 3rd. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.74 by $0.21. Flexsteel Industries had a return on equity of 11.25% and a net margin of 4.63%. As a group, equities research analysts anticipate that Flexsteel Industries, Inc. will post 3.53 EPS for the current year.

Flexsteel Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Saturday, December 28th were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.30%. The ex-dividend date was Friday, December 27th. Flexsteel Industries’s dividend payout ratio is currently 18.99%.

Hedge Funds Weigh In On Flexsteel Industries

A number of institutional investors and hedge funds have recently bought and sold shares of FLXS. American Century Companies Inc. lifted its stake in Flexsteel Industries by 33.2% in the 4th quarter. American Century Companies Inc. now owns 98,202 shares of the company’s stock worth $5,336,000 after purchasing an additional 24,492 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Flexsteel Industries by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 95,508 shares of the company’s stock valued at $5,191,000 after purchasing an additional 253 shares during the last quarter. State Street Corp lifted its position in Flexsteel Industries by 17.9% during the third quarter. State Street Corp now owns 58,687 shares of the company’s stock worth $2,609,000 after buying an additional 8,917 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Flexsteel Industries by 275.7% during the fourth quarter. Bank of New York Mellon Corp now owns 47,919 shares of the company’s stock worth $2,604,000 after buying an additional 35,166 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Flexsteel Industries by 93.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 39,160 shares of the company’s stock worth $2,128,000 after buying an additional 18,903 shares during the last quarter. 36.27% of the stock is currently owned by institutional investors and hedge funds.

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.