Flexsteel Industries (NASDAQ:FLXS) Stock Price Passes Below 200-Day Moving Average of $31.59

Flexsteel Industries, Inc. (NASDAQ:FLXS)’s share price 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 traded.

Analyst Ratings Changes

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

Flexsteel Industries Stock Performance

The firm’s 50-day moving average price is $34.81 and its two-hundred day moving average price is $31.69. The firm has a market capitalization of $160.15 million, a PE ratio of 10.53, a P/E/G ratio of 1.24 and a beta of 0.50. The company has a quick ratio of 0.99, a current ratio of 2.79 and a debt-to-equity ratio of 0.10.

Flexsteel Industries (NASDAQ:FLXS) last posted its quarterly earnings results on Monday, April 29th. The company reported $0.67 EPS for the quarter, topping the consensus estimate of $0.56 by $0.11. The business had revenue of $107.22 million during the quarter, compared to analysts’ expectations of $102.11 million. Flexsteel Industries had a net margin of 3.87% and a return on equity of 6.54%. As a group, research analysts predict that Flexsteel Industries, Inc. will post 2.09 earnings per share for the current fiscal year.

Flexsteel Industries Announces Dividend

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

Institutional Trading of Flexsteel Industries

Institutional investors have recently made changes to their positions in the stock. Barclays PLC acquired a new stake in shares of Flexsteel Industries during the third quarter worth approximately $40,000. Victory Capital Management Inc. acquired a new stake in Flexsteel Industries in the fourth quarter valued at approximately $92,000. Weitzel Financial Services Inc. acquired a new stake in Flexsteel Industries in the first quarter valued at approximately $264,000. Marion Wealth Management lifted its stake in Flexsteel Industries by 7.1% in the first quarter. Marion Wealth Management now owns 29,837 shares of the company’s stock valued at $1,113,000 after acquiring an additional 1,979 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in Flexsteel Industries in the first quarter valued at approximately $435,000. 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.