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

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

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 shares were sold at an average price of $81.00, for a total transaction of $182,250.00.

Flexsteel Industries Stock Performance

Shares of NASDAQ FLXS traded up $2.04 during midday trading on Tuesday, hitting $84.20. 65,706 shares of the company traded hands, compared to its average volume of 84,575. Flexsteel Industries, Inc. has a 12-month low of $34.00 and a 12-month high of $88.49. The firm has a market cap of $451.31 million, a P/E ratio of 13.56, a P/E/G ratio of 1.29 and a beta of 0.57. The stock has a 50-day moving average price of $76.22 and a 200 day moving average price of $61.49.

Flexsteel Industries (NASDAQ:FLXS) last issued its quarterly earnings data 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 business had revenue of $115.37 million during the quarter, compared to analyst estimates 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.

Flexsteel Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 6th. Stockholders of record on Wednesday, June 24th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Wednesday, June 24th. This is a boost from Flexsteel Industries’s previous quarterly dividend of $0.20. Flexsteel Industries’s dividend payout ratio (DPR) is 16.10%.

Hedge Funds Weigh In On Flexsteel Industries

Several institutional investors and hedge funds have recently modified their holdings of the stock. Legal & General Group Plc bought a new position in Flexsteel Industries in the 2nd quarter worth about $25,000. IFP Advisors Inc increased its stake in Flexsteel Industries by 2,200.0% during the 3rd quarter. IFP Advisors Inc now owns 621 shares of the company’s stock valued at $29,000 after purchasing an additional 594 shares in the last quarter. C M Bidwell & Associates Ltd. purchased a new position in Flexsteel Industries in the second quarter worth about $67,000. BNP Paribas Financial Markets raised its holdings in Flexsteel Industries by 149.6% in the third quarter. BNP Paribas Financial Markets now owns 971 shares of the company’s stock worth $45,000 after buying an additional 582 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in shares of Flexsteel Industries by 24.7% in the third quarter. Russell Investments Group Ltd. now owns 1,991 shares of the company’s stock worth $92,000 after buying an additional 395 shares in the last quarter. 36.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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