Illumine Investment Management LLC Invests $774,000 in Flexsteel Industries, Inc. $FLXS

Illumine Investment Management LLC purchased a new position in shares of Flexsteel Industries, Inc. (NASDAQ:FLXS) during the first quarter, Holdings Channel reports. The firm purchased 17,232 shares of the company’s stock, valued at approximately $774,000.

Several other large investors also recently bought and sold shares of the business. IFP Advisors Inc raised its holdings in Flexsteel Industries by 2,200.0% in the 3rd quarter. IFP Advisors Inc now owns 621 shares of the company’s stock valued at $29,000 after acquiring an additional 594 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in shares of Flexsteel Industries during the 4th quarter worth approximately $38,000. BNP Paribas Financial Markets grew its position in shares of Flexsteel Industries by 149.6% in the third 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 purchased a new stake in shares of Flexsteel Industries in the fourth quarter valued at approximately $49,000. Finally, Copeland Capital Management LLC acquired a new stake in shares of Flexsteel Industries in the fourth quarter valued at approximately $59,000. Hedge funds and other institutional investors own 36.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on FLXS. Wall Street Zen downgraded Flexsteel Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 25th. Zacks Research upgraded Flexsteel Industries from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 26th. Finally, Weiss Ratings raised Flexsteel Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Strong Buy”.

Flexsteel Industries Price Performance

Shares of NASDAQ FLXS opened at $71.50 on Tuesday. The company has a 50 day simple moving average of $62.06 and a 200-day simple moving average of $52.01. The company has a market capitalization of $383.24 million, a P/E ratio of 12.95, a P/E/G ratio of 1.18 and a beta of 0.54. Flexsteel Industries, Inc. has a 1 year low of $32.65 and a 1 year high of $77.19.

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

Flexsteel Industries Increases Dividend

The firm 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 1.4%. The ex-dividend date was Wednesday, June 24th. Flexsteel Industries’s dividend payout ratio (DPR) is presently 18.12%.

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.