David Edward Crimmins Sells 4,494 Shares of Flexsteel Industries (NASDAQ:FLXS) Stock

Flexsteel Industries, Inc. (NASDAQ:FLXS) insider David Edward Crimmins sold 4,494 shares of the firm’s stock in a transaction that occurred 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 owned 30,194 shares in the company, valued at $2,442,996.54. This represents a 12.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

David Edward Crimmins also recently made the following trade(s):

• On Thursday, August 20th, David Edward Crimmins sold 1,262 shares of Flexsteel Industries stock. The stock was sold at an average price of $79.02, for a total transaction of $99,723.24.

Flexsteel Industries Trading Up 1.2%

Shares of FLXS opened at $81.53 on Wednesday. The firm has a fifty day simple moving average of $73.55 and a two-hundred day simple moving average of $59.66. The firm has a market cap of $436.67 million, a PE ratio of 13.13, a P/E/G ratio of 1.27 and a beta of 0.56. Flexsteel Industries, Inc. has a 1-year low of $34.00 and a 1-year high of $88.49.

Flexsteel Industries (NASDAQ:FLXS) last released 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. The firm had revenue of $115.37 million for the quarter, compared to the consensus estimate of $109.51 million. Flexsteel Industries had a net margin of 7.21% and a return on equity of 16.11%. As a group, research analysts forecast that Flexsteel Industries, Inc. will post 5.29 EPS for the current fiscal year.

Flexsteel Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 6th. Stockholders of record on Wednesday, June 24th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.2%. This is a positive change from Flexsteel Industries’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, June 24th. Flexsteel Industries’s dividend payout ratio is 16.10%.

Analyst Ratings Changes

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

Key Flexsteel Industries News

Here are the key news stories impacting Flexsteel Industries this week:

• Positive Sentiment: Quarterly earnings beat expectations. Flexsteel reported earnings of $1.33 per share versus the $1.09 analyst consensus, while revenue of $115.37 million exceeded estimates of $109.51 million. The results reinforce the company’s improving profitability and likely support investor confidence. Flexsteel second-quarter earnings article
• Positive Sentiment: Higher dividend enhances shareholder returns. Flexsteel raised its quarterly dividend to $0.25 from $0.20, equivalent to $1.00 annually and a yield of roughly 1.2%. The payout ratio remains modest at approximately 16%, suggesting room to maintain the distribution. Flexsteel dividend article
• Neutral Sentiment: Investor conference could provide a near-term catalyst. CEO Derek Schmidt and CFO Mike Ressler are scheduled to present and meet with investors at the Midwest IDEAS Investor Conference on August 26. Updates on demand, margins and guidance could influence the next move in FLXS. Flexsteel investor conference announcement
• Neutral Sentiment: Short-interest data appears unreliable. The report lists short interest at zero shares both before and after the reporting period while also showing an undefined percentage change. With zero shares sold short and a zero-day days-to-cover ratio, the data provides no meaningful indication of bearish positioning.
• Negative Sentiment: Several insiders sold shares. VP Stacy Marie Kammes sold 2,250 shares for approximately $182,250. Director David Edward Crimmins sold a combined 5,756 shares worth about $463,333, and Michael Joseph McClaflin sold 500 shares for $39,830. The sales reduced their individual holdings and could be interpreted as profit-taking after FLXS’s strong advance. Flexsteel insider selling report

Institutional Trading of Flexsteel Industries

Several institutional investors and hedge funds have recently made changes to their positions in the company. Deutsche Bank AG lifted its holdings in Flexsteel Industries by 11.1% during the fourth quarter. Deutsche Bank AG now owns 3,024 shares of the company’s stock worth $119,000 after buying an additional 303 shares during the period. Barclays PLC boosted its position in Flexsteel Industries by 6.4% during the 4th quarter. Barclays PLC now owns 5,527 shares of the company’s stock valued at $218,000 after acquiring an additional 333 shares in the last quarter. Legal & General Group Plc purchased a new position in shares of Flexsteel Industries in the 2nd quarter valued at $25,000. Russell Investments Group Ltd. increased its holdings in shares of Flexsteel Industries by 24.7% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,991 shares of the company’s stock valued at $92,000 after acquiring an additional 395 shares during the period. Finally, First Trust Advisors LP raised its position in shares of 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 acquiring an additional 467 shares in the last quarter. 36.27% of the stock is currently owned by institutional investors.

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.