Flexsteel Industries, Inc. $FLXS Stake Boosted by LSV Asset Management

LSV Asset Management boosted its stake in shares of Flexsteel Industries, Inc. (NASDAQ:FLXS) by 102.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 37,800 shares of the company’s stock after buying an additional 19,100 shares during the period. LSV Asset Management’s holdings in Flexsteel Industries were worth $1,752,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. First Trust Advisors LP raised its holdings in shares of Flexsteel Industries by 4.1% during the second quarter. First Trust Advisors LP now owns 11,745 shares of the company’s stock valued at $423,000 after acquiring an additional 467 shares during the period. Marion Wealth Management grew its position in Flexsteel Industries by 1.9% during the 2nd quarter. Marion Wealth Management now owns 32,641 shares of the company’s stock worth $1,176,000 after purchasing an additional 593 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Flexsteel Industries by 8.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 7,972 shares of the company’s stock valued at $287,000 after purchasing an additional 653 shares during the period. Hillsdale Investment Management Inc. raised its stake in Flexsteel Industries by 3.9% during the 2nd quarter. Hillsdale Investment Management Inc. now owns 26,956 shares of the company’s stock valued at $971,000 after purchasing an additional 1,000 shares during the period. Finally, Empowered Funds LLC lifted its holdings in shares of Flexsteel Industries by 7.0% in the first quarter. Empowered Funds LLC now owns 24,749 shares of the company’s stock valued at $904,000 after purchasing an additional 1,622 shares in the last quarter. 36.27% of the stock is currently owned by institutional investors and hedge funds.

Flexsteel Industries Trading Up 3.7%

FLXS opened at $57.57 on Tuesday. The stock has a fifty day moving average price of $43.23 and a 200 day moving average price of $41.62. Flexsteel Industries, Inc. has a 1 year low of $29.38 and a 1 year high of $59.95. The stock has a market cap of $308.00 million, a price-to-earnings ratio of 15.69, a PEG ratio of 1.17 and a beta of 0.51.

Flexsteel Industries (NASDAQ:FLXS) last posted its quarterly earnings results on Monday, February 2nd. The company reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.39. The company had revenue of $118.25 million during the quarter, compared to the consensus estimate of $107.51 million. Flexsteel Industries had a return on equity of 16.67% and a net margin of 4.58%. As a group, sell-side analysts forecast that Flexsteel Industries, Inc. will post 3.53 earnings per share for the current fiscal year.

Flexsteel Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 8th. Shareholders of record on Monday, December 29th were paid a $0.20 dividend. The ex-dividend date was Monday, December 29th. This represents a $0.80 dividend on an annualized basis and a yield of 1.4%. Flexsteel Industries’s payout ratio is 21.80%.

Analyst Ratings Changes

Several research firms recently weighed in on FLXS. Wall Street Zen raised Flexsteel Industries from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 7th. Zacks Research upgraded Flexsteel Industries from a “hold” rating to a “strong-buy” rating in a report on Thursday, February 5th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Flexsteel Industries in a research report on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, Flexsteel Industries has a consensus rating of “Buy”.

Flexsteel Industries 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.