Inspire Investing LLC Invests $955,000 in Flexsteel Industries, Inc. $FLXS

Inspire Investing LLC acquired a new stake in shares of Flexsteel Industries, Inc. (NASDAQ:FLXS) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 20,596 shares of the company’s stock, valued at approximately $955,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd purchased a new stake in Flexsteel Industries in the first quarter valued at about $474,000. Cubist Systematic Strategies LLC acquired a new position in shares of Flexsteel Industries during the first quarter valued at about $314,000. LSV Asset Management boosted its stake in Flexsteel Industries by 1,977.8% in the 2nd quarter. LSV Asset Management now owns 18,700 shares of the company’s stock worth $674,000 after purchasing an additional 17,800 shares in the last quarter. Acadian Asset Management LLC boosted its stake in Flexsteel Industries by 16.2% in the 2nd quarter. Acadian Asset Management LLC now owns 59,971 shares of the company’s stock worth $2,159,000 after purchasing an additional 8,366 shares in the last quarter. Finally, Rhumbline Advisers grew its position in Flexsteel Industries by 7.8% during the 1st quarter. Rhumbline Advisers now owns 7,788 shares of the company’s stock worth $284,000 after purchasing an additional 565 shares during the last quarter. 36.27% of the stock is currently owned by hedge funds and other institutional investors.

Flexsteel Industries Trading Down 0.7%

Shares of FLXS stock opened at $40.81 on Friday. Flexsteel Industries, Inc. has a twelve month low of $29.38 and a twelve month high of $64.14. The stock has a market cap of $217.93 million, a P/E ratio of 9.93, a P/E/G ratio of 0.97 and a beta of 0.55. The stock has a 50 day moving average of $38.08 and a 200 day moving average of $39.68.

Flexsteel Industries (NASDAQ:FLXS) last released its quarterly earnings data on Monday, October 20th. The company reported $1.31 EPS for the quarter, topping the consensus estimate of $0.78 by $0.53. The business had revenue of $110.44 million for the quarter, compared to analyst estimates of $105.38 million. Flexsteel Industries had a return on equity of 16.28% and a net margin of 5.22%.During the same quarter in the prior year, the firm posted $0.74 EPS. On average, research analysts predict that Flexsteel Industries, Inc. will post 3.53 earnings per share for the current fiscal year.

Flexsteel Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Monday, December 29th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.0%. The ex-dividend date is Monday, December 29th. Flexsteel Industries’s dividend payout ratio (DPR) is currently 19.46%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on FLXS shares. Wall Street Zen cut shares of Flexsteel Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 18th. Zacks Research upgraded Flexsteel Industries from a “strong sell” rating to a “hold” rating in a research note on Monday, December 15th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Flexsteel Industries in a research report on Monday. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Flexsteel Industries currently has a consensus rating of “Hold”.

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.