Flexsteel Industries, Inc. (FLXS) to Issue Quarterly Dividend of $0.20 on April 9th

Flexsteel Industries, Inc. (NASDAQ:FLXS) announced a quarterly dividend on Tuesday, March 10th. Investors of record on Monday, March 30th will be given a dividend of 0.20 per share on Thursday, April 9th. This represents a c) annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Monday, March 30th.

Flexsteel Industries has a dividend payout ratio of 21.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Flexsteel Industries to earn $4.04 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 19.8%.

Flexsteel Industries Price Performance

Shares of NASDAQ:FLXS opened at $45.83 on Friday. The stock’s 50-day moving average is $47.75 and its 200 day moving average is $43.22. The company has a market cap of $245.19 million, a PE ratio of 12.49, a P/E/G ratio of 0.91 and a beta of 0.47. Flexsteel Industries has a 1 year low of $29.38 and a 1 year high of $59.95.

Flexsteel Industries (NASDAQ:FLXS) last released its quarterly earnings data on Monday, February 2nd. The company reported $1.18 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.39. The business had revenue of $118.25 million during the quarter, compared to analysts’ expectations of $107.51 million. Flexsteel Industries had a return on equity of 16.67% and a net margin of 4.58%. Analysts expect that Flexsteel Industries will post 3.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in FLXS. IFP Advisors Inc boosted its position in shares of Flexsteel Industries by 2,200.0% during the third 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 purchased a new position in Flexsteel Industries during the fourth quarter valued at $38,000. BNP Paribas Financial Markets lifted its position in Flexsteel Industries by 149.6% during the third quarter. BNP Paribas Financial Markets now owns 971 shares of the company’s stock valued at $45,000 after buying an additional 582 shares during the period. Farther Finance Advisors LLC bought a new stake in shares of Flexsteel Industries during the 4th quarter valued at $49,000. Finally, Copeland Capital Management LLC bought a new stake in shares of Flexsteel Industries during the 4th quarter valued at $59,000. Hedge funds and other institutional investors own 36.27% of the company’s stock.

About Flexsteel Industries

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.