The Dixie Group, Inc. (NASDAQ:DXYN – Get Rating) was the target of a sharp decline in short-term interest during the month of May. As of May 31, there was short interest totaling 51,400 shares, down 16.7% from the May 15 total of 61,700 shares. Approximately 0.4% of the company’s shares are sold short. Based on an average trading volume of 43,200 shares, the day-to-cover ratio is currently 1.2 days.
A number of large investors have recently increased or reduced their holdings in DXYN. First Eagle Investment Management LLC increased its stake in The Dixie Group by 119.8% in Q1. First Eagle Investment Management LLC now owns 136,865 shares of the textile maker worth $424,000 after buying an additional 74,588 shares in the last quarter. Essex Investment Management Co. LLC increased its stake in The Dixie Group by 63.5% during the fourth quarter. Essex Investment Management Co. LLC now owns 150,432 shares of the textile maker worth $862,000 after buying an additional 58,399 shares in the last quarter. Morgan Stanley increased its stake in The Dixie Group by 14.6% during the second quarter. Morgan Stanley now owns 455,500 shares of the textile maker worth $1,335,000 after buying an additional 58,150 shares in the last quarter. Hodges Capital Management Inc. increased its stake in The Dixie Group by 2.1% during the first quarter. Hodges Capital Management Inc. now owns 2,239,273 shares of the textile maker worth $6,942,000 after buying an additional 46,700 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in The Dixie Group during Q3 worth approximately $96,000. Hedge funds and other institutional investors own 57.03% of the company’s shares.
DXYN opened at $1.65 on Friday. The Dixie Group has a one-year low of $1.54 and a one-year high of $6.98. The company has a current ratio of 2.82, a quick ratio of 1.06 and a debt ratio of 1.24. The company’s 50-day simple moving average is $2.33 and its 200-day simple moving average is $3.76.
Dixie Group (NASDAQ:DXYN – Get Rating) last released quarterly earnings data on Tuesday, May 10. The textile maker reported ($0.22) EPS for the quarter. The Dixie Group had a net margin of 0.08% and a return on equity of 2.67%. The company had revenue of $77.58 million in the quarter.
Separately, StockNews.com launched coverage on The Dixie Group in a report on Tuesday. They issued a “holding” rating on the stock.
About the Dixie Group (Get a rating)
The Dixie Group, Inc. manufactures, markets and sells flooring products to residential customers in North America and internationally. It offers residential rugs, custom rugs and engineered wood products under the Fabrica brand for interior decorators and designers, select furniture retailers and stores, luxury home builders and coach manufacturers. and luxury yachts; and specialty carpets and rugs for the high-end residential market, as well as luxury vinyl flooring products and broadloom carpet products under the Masland Residential brand through the interior design community and specialty flooring retailers.
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