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

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

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 (DXYN) traded up $0.05 on Tuesday, hitting $3.45. 5,000 shares of the company’s stock traded hands, compared to its average volume of 17,800. Dixie Group has a twelve month low of $3.30 and a twelve month high of $5.20. The company has a market cap of $59.48, a P/E ratio of -19.17 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.

Several institutional investors and hedge funds have recently added to or reduced their stakes in DXYN. Walthausen & Co. LLC bought a new position in shares of Dixie Group in the 3rd quarter valued at about $400,000. Royce & Associates LP lifted its holdings in shares of Dixie Group by 4.8% in the 3rd quarter. Royce & Associates LP now owns 1,466,930 shares of the textile maker’s stock valued at $5,868,000 after acquiring an additional 67,819 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Dixie Group by 3.3% in the 3rd quarter. Wells Fargo & Company MN now owns 1,696,021 shares of the textile maker’s stock valued at $6,785,000 after acquiring an additional 53,487 shares during the last quarter. FTB Advisors Inc. lifted its holdings in shares of Dixie Group by 71.3% in the 2nd quarter. FTB Advisors Inc. now owns 28,869 shares of the textile maker’s stock valued at $128,000 after acquiring an additional 12,016 shares during the last quarter. Finally, Advisor Group Inc. lifted its holdings in shares of Dixie Group by 2.7% in the 2nd quarter. Advisor Group Inc. now owns 89,945 shares of the textile maker’s stock valued at $401,000 after acquiring an additional 2,350 shares during the last quarter. 62.87% of the stock is owned by institutional investors and hedge funds.

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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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