Stacy Marie Kammes Sells 2,750 Shares of Flexsteel Industries (NASDAQ:FLXS) Stock

Flexsteel Industries, Inc. (NASDAQ:FLXS) VP Stacy Kammes sold 2,750 shares of the firm’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $82.66, for a total value of $227,315.00. Following the completion of the sale, the vice president owned 33,306 shares in the company, valued at $2,753,073.96. The trade was a 7.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Stacy Marie Kammes also recently made the following trade(s):

• On Friday, August 21st, Stacy Kammes sold 2,250 shares of Flexsteel Industries stock. The stock was sold at an average price of $81.00, for a total transaction of $182,250.00.

Flexsteel Industries Stock Down 1.3%

Shares of NASDAQ:FLXS opened at $83.13 on Thursday. The company has a market cap of $445.24 million, a PE ratio of 13.39, a P/E/G ratio of 1.33 and a beta of 0.57. The company’s 50-day moving average price is $76.35 and its 200 day moving average price is $61.70. Flexsteel Industries, Inc. has a fifty-two week low of $34.00 and a fifty-two week high of $88.49.

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

Institutional Trading of Flexsteel Industries

A number of institutional investors have recently made changes to their positions in FLXS. Engineers Gate Manager LP acquired a new position in shares of Flexsteel Industries during the second quarter valued at approximately $259,000. IFP Advisors Inc lifted its position in Flexsteel Industries by 52.5% in the second quarter. IFP Advisors Inc now owns 3,052 shares of the company’s stock worth $227,000 after purchasing an additional 1,051 shares during the period. California State Teachers Retirement System lifted its position in Flexsteel Industries by 1,684.4% in the second quarter. California State Teachers Retirement System now owns 3,426 shares of the company’s stock worth $255,000 after purchasing an additional 3,234 shares during the period. Empowered Funds LLC bought a new position in Flexsteel Industries during the 2nd quarter valued at $2,459,000. Finally, Public Employees Retirement System of Ohio bought a new position in Flexsteel Industries during the 2nd quarter valued at $483,000. 36.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on FLXS. Freedom Capital cut Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 18th. Zacks Research lowered Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 21st. Weiss Ratings reissued a “buy (b-)” rating on shares of Flexsteel Industries in a research note on Friday, July 17th. Finally, Freedom Broker lowered Flexsteel Industries from a “buy” rating to a “hold” rating and raised their price target for the company from $72.00 to $80.00 in a report on Tuesday, August 18th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Flexsteel Industries has an average rating of “Hold” and a consensus target price 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.