Renaissance Technologies LLC Has $6.39 Million Holdings in Flexsteel Industries, Inc. $FLXS

Renaissance Technologies LLC raised its position in shares of Flexsteel Industries, Inc. (NASDAQ:FLXS) by 7.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 142,200 shares of the company’s stock after buying an additional 10,400 shares during the quarter. Renaissance Technologies LLC’s holdings in Flexsteel Industries were worth $6,390,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. IFP Advisors Inc increased its position in shares of Flexsteel Industries by 2,200.0% in the third quarter. IFP Advisors Inc now owns 621 shares of the company’s stock worth $29,000 after acquiring an additional 594 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of Flexsteel Industries in the 4th quarter valued at approximately $38,000. BNP Paribas Financial Markets lifted its position in shares of Flexsteel Industries by 149.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 971 shares of the company’s stock valued at $45,000 after acquiring an additional 582 shares in the last quarter. Farther Finance Advisors LLC acquired a new position in Flexsteel Industries in the 4th quarter worth approximately $49,000. Finally, Copeland Capital Management LLC acquired a new position in Flexsteel Industries in the 4th quarter worth approximately $59,000. 36.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Zacks Research cut shares of Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 21st. Wall Street Zen cut Flexsteel Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 25th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Flexsteel Industries in a report on Friday, July 17th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

Flexsteel Industries Price Performance

Shares of FLXS opened at $77.44 on Wednesday. The business’s 50-day moving average is $68.30 and its 200-day moving average is $55.88. The company has a market capitalization of $415.08 million, a price-to-earnings ratio of 14.03, a P/E/G ratio of 1.28 and a beta of 0.56. Flexsteel Industries, Inc. has a fifty-two week low of $32.65 and a fifty-two week high of $78.64.

Flexsteel Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Wednesday, June 24th were paid a $0.25 dividend. The ex-dividend date was Wednesday, June 24th. This represents a $1.00 annualized dividend and a yield of 1.3%. This is a boost from Flexsteel Industries’s previous quarterly dividend of $0.20. Flexsteel Industries’s dividend payout ratio (DPR) is currently 18.12%.

Flexsteel Industries Profile

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.