Flexsteel Industries (NASDAQ:FLXS) Director William Creekmuir Sells 3,008 Shares of Stock

Flexsteel Industries, Inc. (NASDAQ:FLXS) Director William Creekmuir sold 3,008 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $81.54, for a total value of $245,272.32. Following the completion of the transaction, the director owned 26,276 shares in the company, valued at $2,142,545.04. The trade was a 10.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Flexsteel Industries Trading Down 1.1%

NASDAQ:FLXS opened at $80.37 on Friday. Flexsteel Industries, Inc. has a 12-month low of $34.00 and a 12-month high of $88.49. The stock has a 50-day moving average price of $75.65 and a 200 day moving average price of $60.93. The stock has a market capitalization of $430.46 million, a P/E ratio of 12.94, a P/E/G ratio of 1.28 and a beta of 0.57.

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, 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. On average, research analysts predict that Flexsteel Industries, Inc. will post 5.29 earnings per share for the current fiscal year.

Flexsteel Industries Increases Dividend

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on FLXS. Freedom Broker lowered shares of Flexsteel Industries from a “buy” rating to a “hold” rating and upped their target price for the stock from $72.00 to $80.00 in a research report on Tuesday, August 18th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Flexsteel Industries in a report on Friday, July 17th. Freedom Capital cut shares of Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 18th. Finally, Zacks Research downgraded shares of Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Flexsteel Industries has a consensus rating of “Hold” and a consensus price target of $80.00.

Institutional Trading of Flexsteel Industries

A number of large investors have recently added to or reduced their stakes in the company. Mariner LLC bought a new position in shares of Flexsteel Industries during the 4th quarter valued at approximately $46,099,000. BlackRock Inc. bought a new stake in Flexsteel Industries in the second quarter worth $20,589,000. Punch & Associates Investment Management Inc. bought a new stake in Flexsteel Industries in the second quarter worth $6,817,000. Bank of New York Mellon Corp bought a new stake in Flexsteel Industries in the second quarter worth $3,543,000. Finally, Empowered Funds LLC purchased a new stake in Flexsteel Industries during the second quarter valued at $2,459,000. Institutional investors own 36.27% of the company’s stock.

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.