Flexsteel Industries (NASDAQ:FLXS) Stock: Insider Michael Joseph Mcclaflin Sells 1,000 Shares

Flexsteel Industries, Inc. (NASDAQ:FLXS) insider Michael McClaflin sold 1,000 shares of the stock in a transaction on Thursday, November 12th. The shares were sold at an average price of $75.20, for a total value of $75,200.00. Following the sale, the insider owned 33,026 shares in the company, valued at $2,483,555.20. The trade was a 2.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Michael Joseph Mcclaflin also recently made the following trade(s):

• On Wednesday, November 11th, Michael McClaflin sold 2,000 shares of Flexsteel Industries stock. The stock was sold at an average price of $75.56, for a total transaction of $151,120.00.
• On Monday, August 31st, Michael McClaflin sold 2,500 shares of Flexsteel Industries stock. The stock was sold at an average price of $79.57, for a total transaction of $198,925.00.
• On Friday, August 28th, Michael McClaflin sold 2,000 shares of Flexsteel Industries stock. The shares were sold at an average price of $82.94, for a total transaction of $165,880.00.
• On Thursday, August 20th, Michael McClaflin sold 500 shares of Flexsteel Industries stock. The shares were sold at an average price of $79.66, for a total transaction of $39,830.00.

Flexsteel Industries Price Performance

Shares of FLXS traded down $0.30 during midday trading on Friday, hitting $74.83. The stock had a trading volume of 47,598 shares, compared to its average volume of 73,389. Flexsteel Industries, Inc. has a 1 year low of $34.59 and a 1 year high of $90.64. The firm has a market cap of $311.29 million, a PE ratio of 12.19, a price-to-earnings-growth ratio of 1.16 and a beta of 0.61. The stock’s 50 day moving average is $81.53 and its 200 day moving average is $65.32.

Flexsteel Industries (NASDAQ:FLXS) last released its quarterly earnings results on Monday, October 26th. The company reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.01. The firm had revenue of $113.97 million during the quarter, compared to analysts’ expectations of $112.70 million. Flexsteel Industries had a net margin of 6.75% and a return on equity of 15.92%. As a group, equities research analysts expect that Flexsteel Industries, Inc. will post 5.40 earnings per share for the current fiscal year.

Flexsteel Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 12th. Shareholders of record on Wednesday, September 30th were paid a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $1.00 annualized dividend and a yield of 1.3%. Flexsteel Industries’s dividend payout ratio (DPR) is presently 16.29%.

Trending Headlines about Flexsteel Industries

These are some of the FLXS headlines that stood out recently:

• Neutral Sentiment: Despite the sales, both insiders retained sizable holdings: David Crimmins owned 28,228 shares after his reported transactions, and Michael McClaflin held 33,026 shares after his latest sale.
• Negative Sentiment: Crimmins sold a combined 9,950 shares on November 9–10 for about $723,000, reducing his position by 12% in the latest reported transaction. McClaflin sold 3,000 shares on November 11–12 for about $226,000. The repeated insider selling could weigh on investor sentiment. Crimmins sale report McClaflin SEC filing

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in Flexsteel Industries in the 2nd quarter valued at about $20,589,000. Renaissance Technologies LLC increased its position in shares of Flexsteel Industries by 7.9% during the first quarter. Renaissance Technologies LLC now owns 142,200 shares of the company’s stock worth $6,390,000 after acquiring an additional 10,400 shares during the period. Punch & Associates Investment Management Inc. increased its position in shares of Flexsteel Industries by 0.6% during the first quarter. Punch & Associates Investment Management Inc. now owns 91,525 shares of the company’s stock worth $4,113,000 after acquiring an additional 545 shares during the period. Congress Asset Management Co. bought a new stake in shares of Flexsteel Industries during the third quarter valued at approximately $6,824,000. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Flexsteel Industries by 425.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 53,664 shares of the company’s stock valued at $4,543,000 after acquiring an additional 43,448 shares in the last quarter. Hedge funds and other institutional investors own 36.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Freedom Broker upped their target price on Flexsteel Industries from $80.00 to $86.00 and gave the company a “hold” rating in a research note on Tuesday, October 27th. Weiss Ratings lowered Flexsteel Industries from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, November 3rd. Zacks Research raised Flexsteel Industries from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 1st. Finally, Freedom Capital cut Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $86.00.

About Flexsteel Industries

Flexsteel Industries designs, manufactures, imports and markets furniture for residential and commercial customers. Its products include sofas, recliners, sectionals and other upholstered seating, along with dining, bedroom and occasional furniture. The company sells products under the Flexsteel name and other brands through a network of furniture retailers and other distribution channels. Its offerings serve homes as well as commercial settings. Founded in 1893, Flexsteel is headquartered in Dubuque, Iowa, and serves customers primarily in the United States.