Insider Selling: Flexsteel Industries (NASDAQ:FLXS) Director Sells $252,898.00 in Stock

Flexsteel Industries, Inc. (NASDAQ:FLXS) Director William Creekmuir sold 3,100 shares of the stock in a transaction on Friday, September 4th. The stock was sold at an average price of $81.58, for a total transaction of $252,898.00. Following the sale, the director owned 23,176 shares of the company’s stock, valued at approximately $1,890,698.08. This represents a 11.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Flexsteel Industries Stock Performance

Shares of Flexsteel Industries stock opened at $82.74 on Friday. The company has a market capitalization of $443.49 million, a P/E ratio of 13.32, a PEG ratio of 1.31 and a beta of 0.57. Flexsteel Industries, Inc. has a 1 year low of $34.00 and a 1 year high of $88.49. The company’s fifty day moving average is $76.56 and its two-hundred day moving average is $61.91.

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

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Engineers Gate Manager LP purchased a new position in Flexsteel Industries during the second quarter worth about $259,000. IFP Advisors Inc boosted its holdings in Flexsteel Industries by 52.5% in the 2nd quarter. IFP Advisors Inc now owns 3,052 shares of the company’s stock valued at $227,000 after purchasing an additional 1,051 shares in the last quarter. California State Teachers Retirement System increased its position in Flexsteel Industries by 1,684.4% during the 2nd 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 acquired a new position in Flexsteel Industries during the 2nd quarter worth approximately $2,459,000. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Flexsteel Industries during the 2nd quarter worth approximately $483,000. 36.27% of the stock is 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.