Flexsteel Industries (NASDAQ:FLXS) Insider David Edward Crimmins Sells 6,100 Shares of Stock

Flexsteel Industries, Inc. (NASDAQ:FLXS) insider David Crimmins sold 6,100 shares of the company’s stock in a transaction on Monday, November 9th. The shares were sold at an average price of $72.67, for a total transaction of $443,287.00. Following the completion of the transaction, the insider owned 32,078 shares of the company’s stock, valued at $2,331,108.26. This trade represents a 15.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Tuesday, November 10th, David Crimmins sold 3,850 shares of Flexsteel Industries stock. The shares were sold at an average price of $72.61, for a total transaction of $279,548.50.
• On Friday, August 21st, David Crimmins sold 4,494 shares of Flexsteel Industries stock. The stock was sold at an average price of $80.91, for a total transaction of $363,609.54.
• On Thursday, August 20th, David 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 0.1%

FLXS stock traded up $0.06 during trading on Thursday, reaching $74.96. The stock had a trading volume of 19,148 shares, compared to its average volume of 56,934. The firm has a fifty day moving average price of $81.76 and a 200 day moving average price of $64.96. The company has a market capitalization of $311.83 million, a P/E ratio of 12.17, a PEG ratio of 1.12 and a beta of 0.61. Flexsteel Industries, Inc. has a 1-year low of $34.59 and a 1-year high of $90.64.

Flexsteel Industries (NASDAQ:FLXS) last announced its earnings results on Monday, October 26th. The company reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.23 by $0.01. Flexsteel Industries had a return on equity of 15.92% and a net margin of 6.75%. The company had revenue of $113.97 million during the quarter, compared to the consensus estimate of $112.70 million. Sell-side analysts predict that Flexsteel Industries, Inc. will post 5.40 EPS for the current year.

Flexsteel Industries Announces Dividend

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

Institutional Trading of Flexsteel Industries

Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in Flexsteel Industries during the second quarter valued at approximately $20,589,000. Punch & Associates Investment Management Inc. acquired a new position in shares of Flexsteel Industries in the 2nd quarter worth approximately $6,817,000. Congress Asset Management Co. acquired a new position in shares of Flexsteel Industries in the 3rd quarter worth approximately $6,824,000. Bank of New York Mellon Corp acquired a new position in shares of Flexsteel Industries in the 2nd quarter worth approximately $3,543,000. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Flexsteel Industries by 425.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 53,664 shares of the company’s stock worth $4,543,000 after acquiring an additional 43,448 shares in the last quarter. 36.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on FLXS shares. Freedom Capital downgraded Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 18th. Zacks Research upgraded Flexsteel Industries from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 1st. Weiss Ratings downgraded shares of Flexsteel Industries from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, November 3rd. Finally, Freedom Broker lifted their price target on shares of Flexsteel Industries from $80.00 to $86.00 and gave the stock a “hold” rating in a research note on Tuesday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus 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.