Flexsteel Industries (NASDAQ:FLXS) Director Sells $81,030.00 in Stock

Flexsteel Industries, Inc. (NASDAQ:FLXS) Director William Creekmuir sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $81.03, for a total value of $81,030.00. Following the completion of the sale, the director owned 19,226 shares of the company’s stock, valued at $1,557,882.78. This represents a 4.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Flexsteel Industries Trading Up 0.3%

NASDAQ FLXS opened at $79.69 on Friday. The firm has a market cap of $426.82 million, a price-to-earnings ratio of 12.83, a PEG ratio of 1.25 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 has a 50 day moving average of $77.73 and a 200-day moving average of $63.03.

Flexsteel Industries (NASDAQ:FLXS) last issued its quarterly earnings data on Monday, August 17th. The company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.24. The firm had revenue of $115.37 million during the quarter, compared to the consensus estimate of $109.51 million. Flexsteel Industries had a return on equity of 16.11% and a net margin of 7.21%. On average, analysts forecast that Flexsteel Industries, Inc. will post 5.29 earnings per share for the current year.

Flexsteel Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 12th. Investors of record on Wednesday, September 30th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.3%. The ex-dividend date is Wednesday, September 30th. Flexsteel Industries’s payout ratio is 16.10%.

Wall Street Analyst Weigh In

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

Institutional Trading of Flexsteel Industries

Institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. acquired a new stake in shares of Flexsteel Industries during the second quarter worth $20,589,000. Janney Montgomery Scott LLC lifted its stake in Flexsteel Industries by 97.5% in the first quarter. Janney Montgomery Scott LLC now owns 29,207 shares of the company’s stock valued at $1,313,000 after buying an additional 14,417 shares during the period. Walleye Capital LLC acquired a new position in Flexsteel Industries in the first quarter valued at about $1,359,000. Illumine Investment Management LLC bought a new position in Flexsteel Industries during the first quarter worth about $774,000. Finally, Bank of America Corp DE boosted its holdings in Flexsteel Industries by 462.3% during the first quarter. Bank of America Corp DE now owns 27,536 shares of the company’s stock worth $1,237,000 after buying an additional 22,639 shares during the last quarter. Institutional investors own 36.27% of the company’s stock.

About Flexsteel Industries

Flexsteel Industries, Inc is a furniture manufacturer and distributor headquartered in Dubuque, Iowa. Founded in 1893, the company develops and sells residential furniture under the Flexsteel brand, with a focus on upholstered seating and furnishings for living rooms, family rooms, bedrooms, dining areas and home offices.

Its product portfolio includes sofas, sectionals, recliners, chairs, mattresses, beds, dressers, dining tables, dining chairs and occasional furniture. Flexsteel is known for its Blue Steel Spring seating technology, which is incorporated into many of its upholstered furniture products.