Hillsdale Investment Management Inc. Sells 22,120 Shares of Flexsteel Industries, Inc. $FLXS

Hillsdale Investment Management Inc. decreased its stake in shares of Flexsteel Industries, Inc. (NASDAQ:FLXS) by 80.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,500 shares of the company’s stock after selling 22,120 shares during the period. Hillsdale Investment Management Inc. owned approximately 0.10% of Flexsteel Industries worth $217,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of FLXS. IFP Advisors Inc boosted its stake in shares of Flexsteel Industries by 2,200.0% during the 3rd quarter. IFP Advisors Inc now owns 621 shares of the company’s stock valued at $29,000 after purchasing an additional 594 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in shares of Flexsteel Industries during the 4th quarter valued at about $38,000. BNP Paribas Financial Markets boosted its stake in shares of Flexsteel Industries by 149.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 971 shares of the company’s stock valued at $45,000 after purchasing an additional 582 shares in the last quarter. Farther Finance Advisors LLC bought a new stake in shares of Flexsteel Industries during the 4th quarter valued at about $49,000. Finally, Copeland Capital Management LLC purchased a new position in Flexsteel Industries during the 4th quarter valued at about $59,000. Institutional investors own 36.27% of the company’s stock.

Flexsteel Industries Price Performance

Shares of NASDAQ FLXS opened at $59.19 on Wednesday. Flexsteel Industries, Inc. has a 1 year low of $29.39 and a 1 year high of $60.97. The stock has a market cap of $317.26 million, a P/E ratio of 10.72, a price-to-earnings-growth ratio of 1.01 and a beta of 0.58. The firm has a 50-day moving average of $51.05 and a 200 day moving average of $46.32.

Flexsteel Industries (NASDAQ:FLXS) last issued its quarterly earnings results on Monday, April 20th. The company reported $1.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.39. The company had revenue of $115.13 million during the quarter, compared to analysts’ expectations of $118.32 million. Flexsteel Industries had a net margin of 6.79% and a return on equity of 16.10%. Research analysts expect that Flexsteel Industries, Inc. will post 4.78 earnings per share for the current fiscal year.

Flexsteel Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 9th. Shareholders of record on Monday, March 30th were issued a $0.20 dividend. The ex-dividend date of this dividend was Monday, March 30th. This represents a $0.80 annualized dividend and a yield of 1.4%. Flexsteel Industries’s payout ratio is 14.49%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on FLXS shares. Zacks Research raised shares of Flexsteel Industries from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 26th. Weiss Ratings raised shares of Flexsteel Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, April 20th. Finally, Wall Street Zen cut shares of Flexsteel Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 25th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Strong Buy”.

Flexsteel Industries Profile

Flexsteel Industries, Inc (NASDAQ: FLXS) is a U.S.-based furniture manufacturer specializing in the design, production, and marketing of residential upholstered furniture and wood casegoods. The company operates through two primary segments: Upholstery, which encompasses seating products such as sofas, loveseats, chairs, recliners, and sectionals; and Casegoods, which includes accent and occasional tables, cabinets, bookcases, and other wood-based furnishings. Flexsteel sells its products through a network of independent retailers, furniture stores, and distributors across North America.

Flexsteel’s upholstery segment is distinguished by its patented Blue Steel Spring® technology, which offers enhanced longevity and comfort by replacing conventional webbing and springs with a welded steel seat suspension.