14,806 Shares in Flexsteel Industries, Inc. $FLXS Acquired by Globeflex Capital L P

Globeflex Capital L P bought a new stake in Flexsteel Industries, Inc. (NASDAQ:FLXS) during the second quarter, HoldingsChannel reports. The institutional investor bought 14,806 shares of the company’s stock, valued at approximately $1,103,000.

Other hedge funds also recently bought and sold shares of the company. Deutsche Bank AG raised its holdings in shares of Flexsteel Industries by 11.1% in the fourth quarter. Deutsche Bank AG now owns 3,024 shares of the company’s stock worth $119,000 after acquiring an additional 303 shares during the last quarter. Barclays PLC boosted its stake in shares of Flexsteel Industries by 6.4% during the fourth quarter. Barclays PLC now owns 5,527 shares of the company’s stock valued at $218,000 after acquiring an additional 333 shares during the last quarter. Russell Investments Group Ltd. increased its position in Flexsteel Industries by 24.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,991 shares of the company’s stock worth $92,000 after purchasing an additional 395 shares in the last quarter. First Trust Advisors LP increased its position in Flexsteel Industries by 4.1% during 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, Public Employees Retirement System of Ohio raised its stake in Flexsteel Industries by 16.4% in the 1st quarter. Public Employees Retirement System of Ohio now owns 3,729 shares of the company’s stock valued at $168,000 after purchasing an additional 526 shares during the last quarter. Hedge funds and other institutional investors own 36.27% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Transactions at Flexsteel Industries

In other news, insider David Edward Crimmins sold 4,494 shares of the company’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $80.91, for a total transaction of $363,609.54. Following the completion of the sale, the insider directly owned 30,194 shares in the company, valued at $2,442,996.54. This represents a 12.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Michael Joseph Mcclaflin sold 500 shares of the stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $79.66, for a total value of $39,830.00. Following the completion of the transaction, the insider directly owned 35,897 shares in the company, valued at $2,859,555.02. This trade represents a 1.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 8,506 shares of company stock worth $685,413 in the last ninety days. Insiders own 11.20% of the company’s stock.

Flexsteel Industries Price Performance

Shares of FLXS stock opened at $80.60 on Tuesday. The firm’s 50-day simple moving average is $73.17 and its 200-day simple moving average is $59.40. Flexsteel Industries, Inc. has a 1-year low of $34.00 and a 1-year high of $88.49. The firm has a market cap of $432.02 million, a P/E ratio of 12.98, a PEG ratio of 1.28 and a beta of 0.56.

Flexsteel Industries (NASDAQ:FLXS) last released its earnings results on Monday, August 17th. The company reported $1.33 earnings per share (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 firm had revenue of $115.37 million during the quarter, compared to the consensus estimate of $109.51 million. Analysts expect 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 paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, June 24th. This represents a $1.00 annualized dividend and a dividend yield of 1.2%. This is a boost from Flexsteel Industries’s previous quarterly dividend of $0.20. Flexsteel Industries’s dividend payout ratio is presently 16.10%.

Flexsteel Industries 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.