Dixie Group (DXYN) Upgraded by Zacks Investment Research to Hold

Zacks Investment Research upgraded shares of Dixie Group (NASDAQ:DXYN) from a strong sell rating to a hold rating in a research report sent to investors on Tuesday.

According to Zacks, “Dixie Group Inc. is a leading carpet and rug manufacturer and supplier to higher-end residential and commercial customers serviced by Masland Carpets and Fabrica International, to consumers through major retailers under the Bretlin, Globaltex and Alliance Mills brands and to the factory-built housing and recreational vehicle markets through Carriage Carpets. Dixie’s Candlewick Yarns serves specialty carpet yarn customers.(PR) “

Dixie Group (NASDAQ:DXYN) traded up $0.05 on Tuesday, reaching $3.55. The company’s stock had a trading volume of 17,785 shares, compared to its average volume of 26,522. The firm has a market capitalization of $56.49, a P/E ratio of -19.72 and a beta of 0.61. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.61 and a quick ratio of 0.81. Dixie Group has a 12-month low of $3.30 and a 12-month high of $5.20.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in DXYN. FTB Advisors Inc. lifted its position in Dixie Group by 71.3% in the second quarter. FTB Advisors Inc. now owns 28,869 shares of the textile maker’s stock worth $128,000 after purchasing an additional 12,016 shares during the period. GRT Capital Partners L.L.C. lifted its position in Dixie Group by 17.0% in the second quarter. GRT Capital Partners L.L.C. now owns 31,000 shares of the textile maker’s stock worth $138,000 after purchasing an additional 4,500 shares during the period. Northern Trust Corp lifted its position in Dixie Group by 4.0% in the second quarter. Northern Trust Corp now owns 31,483 shares of the textile maker’s stock worth $141,000 after purchasing an additional 1,198 shares during the period. Walthausen & Co. LLC acquired a new stake in Dixie Group in the third quarter worth approximately $400,000. Finally, Advisor Group Inc. lifted its position in Dixie Group by 2.7% in the second quarter. Advisor Group Inc. now owns 89,945 shares of the textile maker’s stock worth $401,000 after purchasing an additional 2,350 shares during the period. Hedge funds and other institutional investors own 62.87% of the company’s stock.

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Dixie Group Company Profile

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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