Flexsteel Industries (NASDAQ:FLXS) VP Stacy Marie Kammes Sells 2,750 Shares of Stock

Flexsteel Industries, Inc. (NASDAQ:FLXS) VP Stacy Kammes sold 2,750 shares of the company’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $82.66, for a total transaction of $227,315.00. Following the sale, the vice president directly owned 33,306 shares of the company’s stock, valued at approximately $2,753,073.96. This represents a 7.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Stacy Marie Kammes also recently made the following trade(s):

• On Friday, August 21st, Stacy Kammes sold 2,250 shares of Flexsteel Industries stock. The stock was sold at an average price of $81.00, for a total transaction of $182,250.00.

Flexsteel Industries Price Performance

Shares of Flexsteel Industries stock opened at $84.20 on Wednesday. The company’s fifty day simple moving average is $76.22 and its 200-day simple moving average is $61.49. The stock has a market capitalization of $451.31 million, a PE ratio of 13.56, a P/E/G ratio of 1.29 and a beta of 0.57. Flexsteel Industries, Inc. has a 1-year low of $34.00 and a 1-year high of $88.49.

Flexsteel Industries (NASDAQ:FLXS) last released its earnings results on Monday, August 17th. The company reported $1.33 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $109.51 million. As a group, research analysts anticipate that Flexsteel Industries, Inc. will post 5.29 EPS for the current year.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. IFP Advisors Inc boosted its stake in Flexsteel Industries by 52.5% in the 2nd quarter. IFP Advisors Inc now owns 3,052 shares of the company’s stock worth $227,000 after purchasing an additional 1,051 shares during the period. California State Teachers Retirement System lifted its holdings in shares of Flexsteel Industries by 1,684.4% in the second quarter. California State Teachers Retirement System now owns 3,426 shares of the company’s stock worth $255,000 after buying an additional 3,234 shares in the last quarter. Empowered Funds LLC purchased a new position in shares of Flexsteel Industries in the second quarter worth $2,459,000. Public Employees Retirement System of Ohio bought a new position in shares of Flexsteel Industries during the second quarter worth $483,000. Finally, Punch & Associates Investment Management Inc. bought a new position in shares of Flexsteel Industries during the second quarter worth $6,817,000. 36.27% of the stock is 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.