Michael Joseph Mcclaflin Sells 500 Shares of Flexsteel Industries (NASDAQ:FLXS) Stock

Flexsteel Industries, Inc. (NASDAQ:FLXS) insider Michael Joseph Mcclaflin sold 500 shares of the firm’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $79.66, for a total transaction of $39,830.00. Following the transaction, the insider owned 35,897 shares of the company’s stock, valued at approximately $2,859,555.02. This represents a 1.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Flexsteel Industries Trading Up 1.2%

NASDAQ FLXS opened at $81.53 on Wednesday. Flexsteel Industries, Inc. has a 1-year low of $34.00 and a 1-year high of $88.49. The company has a market capitalization of $436.67 million, a price-to-earnings ratio of 13.13, a PEG ratio of 1.27 and a beta of 0.56. The stock’s 50 day moving average is $73.55 and its two-hundred day moving average is $59.66.

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

Flexsteel Industries Increases Dividend

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

Institutional Trading of Flexsteel Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Janney Montgomery Scott LLC raised its stake in shares of Flexsteel Industries by 97.5% in the first quarter. Janney Montgomery Scott LLC now owns 29,207 shares of the company’s stock worth $1,313,000 after acquiring an additional 14,417 shares during the last quarter. Walleye Capital LLC acquired a new stake in shares of Flexsteel Industries in the first quarter valued at approximately $1,359,000. Illumine Investment Management LLC bought a new position in Flexsteel Industries in the 1st quarter worth approximately $774,000. Globeflex Capital L P bought a new position in Flexsteel Industries in the 2nd quarter worth approximately $1,103,000. Finally, Punch & Associates Investment Management Inc. lifted its holdings in Flexsteel Industries by 23.8% during the 4th quarter. Punch & Associates Investment Management Inc. now owns 90,980 shares of the company’s stock worth $3,593,000 after buying an additional 17,478 shares in the last quarter. 36.27% of the stock is currently owned by institutional investors and hedge funds.

More Flexsteel Industries News

Here are the key news stories impacting Flexsteel Industries this week:

• Positive Sentiment: Quarterly earnings beat expectations. Flexsteel reported earnings of $1.33 per share versus the $1.09 analyst consensus, while revenue of $115.37 million exceeded estimates of $109.51 million. The results reinforce the company’s improving profitability and likely support investor confidence. Flexsteel second-quarter earnings article
• Positive Sentiment: Higher dividend enhances shareholder returns. Flexsteel raised its quarterly dividend to $0.25 from $0.20, equivalent to $1.00 annually and a yield of roughly 1.2%. The payout ratio remains modest at approximately 16%, suggesting room to maintain the distribution. Flexsteel dividend article
• Neutral Sentiment: Investor conference could provide a near-term catalyst. CEO Derek Schmidt and CFO Mike Ressler are scheduled to present and meet with investors at the Midwest IDEAS Investor Conference on August 26. Updates on demand, margins and guidance could influence the next move in FLXS. Flexsteel investor conference announcement
• Neutral Sentiment: Short-interest data appears unreliable. The report lists short interest at zero shares both before and after the reporting period while also showing an undefined percentage change. With zero shares sold short and a zero-day days-to-cover ratio, the data provides no meaningful indication of bearish positioning.
• Negative Sentiment: Several insiders sold shares. VP Stacy Marie Kammes sold 2,250 shares for approximately $182,250. Director David Edward Crimmins sold a combined 5,756 shares worth about $463,333, and Michael Joseph McClaflin sold 500 shares for $39,830. The sales reduced their individual holdings and could be interpreted as profit-taking after FLXS’s strong advance. Flexsteel insider selling report

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Freedom Capital downgraded shares of Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 18th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Flexsteel Industries in a research report on Friday, July 17th. 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. Finally, Zacks Research lowered shares of Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 21st. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Flexsteel Industries has an average rating of “Hold” and a consensus price target of $80.00.

About Flexsteel Industries

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.