Flexsteel Industries (NASDAQ:FLXS) Insider David Edward Crimmins Sells 3,850 Shares of Company Stock

Flexsteel Industries, Inc. (NASDAQ:FLXS) insider David Crimmins sold 3,850 shares of the company’s stock in a transaction that occurred on Tuesday, November 10th. The shares were sold at an average price of $72.61, for a total value of $279,548.50. Following the completion of the transaction, the insider owned 28,228 shares in the company, valued at $2,049,635.08. This represents a 12.00% decrease in their ownership of the stock. The transaction 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 Monday, November 9th, David Crimmins sold 6,100 shares of Flexsteel Industries stock. The stock was sold at an average price of $72.67, for a total value of $443,287.00.
• 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 value 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 value of $99,723.24.

Flexsteel Industries Stock Up 0.3%

NASDAQ:FLXS opened at $75.13 on Friday. Flexsteel Industries, Inc. has a 52 week low of $34.59 and a 52 week high of $90.64. The company has a market capitalization of $312.69 million, a P/E ratio of 12.24, a P/E/G ratio of 1.16 and a beta of 0.61. The stock’s fifty day moving average is $81.64 and its two-hundred day moving average is $65.14.

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

Flexsteel Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 12th. Shareholders of record on Wednesday, September 30th were given a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $1.00 dividend on an annualized basis and a yield of 1.3%. Flexsteel Industries’s dividend payout ratio is presently 16.29%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Congress Asset Management Co. purchased a new stake in shares of Flexsteel Industries in the 3rd quarter valued at $6,824,000. BlackRock Inc. acquired a new position in Flexsteel Industries during the 2nd quarter worth about $20,589,000. Sowell Financial Services LLC acquired a new position in Flexsteel Industries during the 3rd quarter worth about $2,581,000. Walleye Capital LLC acquired a new position in Flexsteel Industries during the 1st quarter worth about $1,359,000. Finally, Bank of America Corp DE boosted its holdings in Flexsteel Industries by 462.3% during the 1st quarter. Bank of America Corp DE now owns 27,536 shares of the company’s stock valued at $1,237,000 after acquiring an additional 22,639 shares during the period. 36.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FLXS has been the subject of several research analyst reports. Zacks Research raised shares of Flexsteel Industries from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 1st. Freedom Capital cut shares of Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 18th. Weiss Ratings downgraded shares of Flexsteel Industries from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, November 3rd. Finally, Freedom Broker upped their price objective on shares of Flexsteel Industries from $80.00 to $86.00 and gave the stock a “hold” rating in a report on Tuesday, October 27th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average 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.