Stacy Marie Kammes Sells 2,250 Shares of Flexsteel Industries (NASDAQ:FLXS) Stock

Flexsteel Industries, Inc. (NASDAQ:FLXS) VP Stacy Marie Kammes sold 2,250 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $81.00, for a total transaction of $182,250.00. Following the completion of the sale, the vice president owned 28,165 shares of the company’s stock, valued at approximately $2,281,365. This represents a 7.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Flexsteel Industries Stock Down 1.0%

Shares of NASDAQ FLXS traded down $0.79 during midday trading on Monday, reaching $80.60. 70,722 shares of the company’s stock traded hands, compared to its average volume of 49,704. The stock’s 50 day simple moving average is $72.83 and its 200-day simple moving average is $59.13. Flexsteel Industries, Inc. has a one year low of $34.00 and a one year high of $88.49. The company has a market cap of $432.02 million, a price-to-earnings ratio of 12.98, a P/E/G ratio of 1.28 and a beta of 0.56.

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

Flexsteel Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Investors 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. The ex-dividend date was Wednesday, June 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.2%. Flexsteel Industries’s dividend payout ratio (DPR) is currently 16.10%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Zacks Research lowered Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 21st. Freedom Capital cut shares of Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 18th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Flexsteel Industries in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Flexsteel Industries currently has a consensus rating of “Hold”.

Institutional Investors Weigh In On Flexsteel Industries

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC purchased a new stake in shares of Flexsteel Industries during the first quarter worth about $221,000. Jones Financial Companies Lllp raised its position in shares of Flexsteel Industries by 5,214.0% in the 1st quarter. Jones Financial Companies Lllp now owns 2,657 shares of the company’s stock valued at $97,000 after purchasing an additional 2,607 shares during the last quarter. Empowered Funds LLC boosted its stake in Flexsteel Industries by 7.0% in the 1st quarter. Empowered Funds LLC now owns 24,749 shares of the company’s stock worth $904,000 after purchasing an additional 1,622 shares in the last quarter. First Trust Advisors LP boosted its stake in Flexsteel Industries by 4.1% in the 2nd quarter. First Trust Advisors LP now owns 11,745 shares of the company’s stock worth $423,000 after purchasing an additional 467 shares in the last quarter. Finally, Qube Research & Technologies Ltd grew its position in Flexsteel Industries by 7.0% during the 2nd quarter. Qube Research & Technologies Ltd now owns 28,888 shares of the company’s stock worth $1,041,000 after purchasing an additional 1,881 shares during the last quarter. 36.27% of the stock is currently owned by hedge funds and other institutional investors.

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.