Flexsteel Industries (NASDAQ:FLXS) Insider David Edward Crimmins Sells 1,262 Shares of Stock

Flexsteel Industries, Inc. (NASDAQ:FLXS) insider David Edward Crimmins sold 1,262 shares of the firm’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $79.02, for a total value of $99,723.24. Following the completion of the sale, the insider directly owned 34,688 shares in the company, valued at $2,741,045.76. This trade represents a 3.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

David Edward Crimmins also recently made the following trade(s):

• On Friday, August 21st, David Edward Crimmins sold 4,494 shares of Flexsteel Industries stock. The shares were sold at an average price of $80.91, for a total value of $363,609.54.

Flexsteel Industries Trading Down 1.0%

NASDAQ FLXS traded down $0.79 during trading on Monday, hitting $80.60. 70,722 shares of the company’s stock were exchanged, compared to its average volume of 49,704. The company has a market cap of $432.02 million, a PE ratio of 12.98, a P/E/G ratio of 1.28 and a beta of 0.56. Flexsteel Industries, Inc. has a fifty-two week low of $34.00 and a fifty-two week high of $88.49. The stock’s 50 day moving average price is $72.83 and its two-hundred day moving average price is $59.13.

Flexsteel Industries (NASDAQ:FLXS) last posted its quarterly earnings results on Monday, August 17th. The company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.24. The company had revenue of $115.37 million for the quarter, compared to the consensus estimate of $109.51 million. Flexsteel Industries had a net margin of 7.21% and a return on equity of 16.11%. Analysts forecast that Flexsteel Industries, Inc. will post 5.29 earnings per share for the current fiscal year.

Flexsteel Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Wednesday, June 24th were given a $0.25 dividend. This is an increase from Flexsteel Industries’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Wednesday, June 24th. Flexsteel Industries’s dividend payout ratio (DPR) is 16.10%.

Hedge Funds Weigh In On Flexsteel Industries

Large investors have recently modified their holdings of the business. Deutsche Bank AG raised its holdings in Flexsteel Industries by 11.1% during the 4th quarter. Deutsche Bank AG now owns 3,024 shares of the company’s stock worth $119,000 after purchasing an additional 303 shares during the last quarter. Barclays PLC boosted its position in Flexsteel Industries by 6.4% during the fourth quarter. Barclays PLC now owns 5,527 shares of the company’s stock valued at $218,000 after acquiring an additional 333 shares during the last quarter. Legal & General Group Plc bought a new stake in Flexsteel Industries during the second quarter valued at $25,000. Russell Investments Group Ltd. grew its holdings in Flexsteel Industries by 24.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,991 shares of the company’s stock worth $92,000 after acquiring an additional 395 shares during the period. Finally, First Trust Advisors LP grew its holdings in Flexsteel Industries by 4.1% during the 2nd quarter. First Trust Advisors LP now owns 11,745 shares of the company’s stock worth $423,000 after acquiring an additional 467 shares during the period. Institutional investors own 36.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on FLXS shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Flexsteel Industries in a research note on Friday, July 17th. Zacks Research downgraded Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 21st. Finally, Freedom Capital lowered Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 18th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Flexsteel Industries currently has an average rating of “Hold”.

Flexsteel Industries Company 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.