BidaskClub lowered shares of Flexsteel Industries, Inc. (NASDAQ:FLXS) from a hold rating to a sell rating in a research report report published on Saturday morning.

Flexsteel Industries (FLXS) opened at 54.47 on Friday. The firm has a market capitalization of $425.68 million, a PE ratio of 17.86 and a beta of 1.97. Flexsteel Industries has a one year low of $39.98 and a one year high of $62.99. The firm has a 50 day moving average of $54.95 and a 200 day moving average of $52.41.

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Several hedge funds have recently made changes to their positions in FLXS. Stanley Laman Group Ltd. boosted its stake in shares of Flexsteel Industries by 2.5% in the second quarter. Stanley Laman Group Ltd. now owns 9,458 shares of the company’s stock worth $512,000 after buying an additional 230 shares during the period. Bank of New York Mellon Corp raised its position in shares of Flexsteel Industries by 4.1% in the second quarter. Bank of New York Mellon Corp now owns 71,395 shares of the company’s stock valued at $3,864,000 after buying an additional 2,780 shares in the last quarter. Rhumbline Advisers raised its position in shares of Flexsteel Industries by 11.6% in the second quarter. Rhumbline Advisers now owns 8,659 shares of the company’s stock valued at $469,000 after buying an additional 900 shares in the last quarter. Boston Partners acquired a new position in shares of Flexsteel Industries during the second quarter valued at about $1,912,000. Finally, Schwab Charles Investment Management Inc. raised its position in shares of Flexsteel Industries by 30.0% in the second quarter. Schwab Charles Investment Management Inc. now owns 15,600 shares of the company’s stock valued at $845,000 after buying an additional 3,600 shares in the last quarter. 65.01% of the stock is owned by institutional investors.

Flexsteel Industries Company Profile

Flexsteel Industries, Inc is a manufacturer, importer, marketer and distributor of residential and commercial upholstered and wood furniture products in the United States. The Company offers its products for contract under categories, such as hospitality, healthcare, senior living, government and commercial office.

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