Flexsteel Industries (NASDAQ:FLXS) VP Sells $182,250.00 in Stock

Flexsteel Industries, Inc. (NASDAQ:FLXS) VP Stacy Marie Kammes sold 2,250 shares of the business’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $81.00, for a total transaction of $182,250.00. Following the completion of the sale, the vice president owned 28,165 shares in the company, valued at approximately $2,281,365. This trade represents a 7.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Flexsteel Industries Trading Up 0.3%

Shares of NASDAQ FLXS opened at $81.77 on Thursday. Flexsteel Industries, Inc. has a 12-month low of $34.00 and a 12-month high of $88.49. The firm’s 50-day moving average price is $73.92 and its 200-day moving average price is $59.91. The stock has a market capitalization of $438.29 million, a price-to-earnings ratio of 13.17, a P/E/G ratio of 1.28 and a beta of 0.56.

Flexsteel Industries (NASDAQ:FLXS) last released its quarterly earnings results on Monday, August 17th. The company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.09 by $0.24. Flexsteel Industries had a return on equity of 16.11% and a net margin of 7.21%.The company had revenue of $115.37 million during the quarter, compared to analyst estimates of $109.51 million. On average, equities analysts predict that Flexsteel Industries, Inc. will post 5.29 EPS for the current fiscal year.

Flexsteel Industries Increases Dividend

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on FLXS. Zacks Research downgraded Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 21st. Freedom Broker downgraded shares of Flexsteel Industries from a “buy” rating to a “hold” rating and increased their target price for the company from $72.00 to $80.00 in a research note on Tuesday, August 18th. Freedom Capital downgraded shares of Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 18th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Flexsteel Industries in a research note on Friday, July 17th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Flexsteel Industries presently has an average rating of “Hold” and a consensus target price of $80.00.

Institutional Investors Weigh In On Flexsteel Industries

Hedge funds and other institutional investors have recently modified their holdings of the business. Legal & General Group Plc purchased a new position in Flexsteel Industries during the 2nd quarter valued at $25,000. IFP Advisors Inc increased its stake in Flexsteel Industries by 2,200.0% in the third quarter. IFP Advisors Inc now owns 621 shares of the company’s stock worth $29,000 after purchasing an additional 594 shares during the period. State of Alaska Department of Revenue purchased a new stake in Flexsteel Industries in the fourth quarter worth $38,000. BNP Paribas Financial Markets boosted its stake in shares of 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 purchasing an additional 582 shares during the period. Finally, Farther Finance Advisors LLC purchased a new stake in shares of Flexsteel Industries during the fourth quarter valued at $49,000. 36.27% of the stock is currently owned by hedge funds and other institutional investors.

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.