Published On: Tue, Sep 20th, 2016

The Dixie Group Inc. (DXYN) Shares Up 5.2%

Shares of The Dixie Group Inc. (NASDAQ:DXYN) shot up 5.2% during mid-day trading on Monday . The company traded as high as $4.79 and last traded at $4.68, with a volume of 57,443 shares. The stock had previously closed at $4.45.
Separately, Zacks Investment Research raised The Dixie Group from a “hold” rating to a “buy” rating and set a $4.25 target price for the company in a research note on Thursday, July 28th.
The company’s market capitalization is $73.22 million. The stock has a 50 day moving average price of $4.26 and a 200 day moving average price of $3.98.

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The Dixie Group (NASDAQ:DXYN) last released its earnings results on Wednesday, July 27th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.18. The business had revenue of $105.32 million for the quarter, compared to analyst estimates of $107.10 million. The Dixie Group had a negative return on equity of 1.76% and a negative net margin of 0.86%. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.03 earnings per share.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Royce & Associates LP raised its position in shares of The Dixie Group by 0.6% in the first quarter. Royce & Associates LP now owns 1,521,707 shares of the company’s stock worth $6,406,000 after buying an additional 9,818 shares in the last quarter. Boston Partners raised its position in shares of The Dixie Group by 0.8% in the second quarter. Boston Partners now owns 175,240 shares of the company’s stock worth $624,000 after buying an additional 1,420 shares in the last quarter. Blair William & Co. IL raised its position in shares of The Dixie Group by 2.0% in the second quarter. Blair William & Co. IL now owns 148,173 shares of the company’s stock worth $527,000 after buying an additional 2,950 shares in the last quarter. First Dallas Securities Inc. raised its position in shares of The Dixie Group by 93.2% in the second quarter. First Dallas Securities Inc. now owns 86,050 shares of the company’s stock worth $306,000 after buying an additional 41,500 shares in the last quarter. Finally, Emerald Acquisition Ltd. acquired a new position in shares of The Dixie Group during the second quarter worth $305,000. 63.65% of the stock is currently owned by hedge funds and other institutional investors.
About The Dixie Group
The Dixie Group, Inc is engaged in marketing, manufacturing and selling of carpet and rugs. The Company offers its products to various residential and commercial customers through its various sales forces and brands. The Company operates through the carpet and rug manufacturing segment. The Company also provides carpet and yarn related services to other manufacturers.

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