William Creekmuir Sells 3,100 Shares of Flexsteel Industries (NASDAQ:FLXS) Stock

Flexsteel Industries, Inc. (NASDAQ:FLXS) Director William Creekmuir sold 3,100 shares of the business’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $81.85, for a total value of $253,735.00. Following the completion of the sale, the director directly owned 29,284 shares of the company’s stock, valued at approximately $2,396,895.40. This trade represents a 9.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Flexsteel Industries Price Performance

Shares of FLXS stock opened at $81.26 on Thursday. The stock has a market capitalization of $435.55 million, a PE ratio of 13.09, a P/E/G 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 business has a 50-day moving average of $75.42 and a 200 day moving average of $60.77.

Flexsteel Industries (NASDAQ:FLXS) last announced its quarterly earnings results on Monday, August 17th. The company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.24. Flexsteel Industries had a return on equity of 16.11% and a net margin of 7.21%.The business had revenue of $115.37 million for the quarter, compared to analysts’ expectations of $109.51 million. Analysts anticipate that Flexsteel Industries, Inc. will post 5.29 EPS for the current year.

Flexsteel Industries Increases Dividend

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

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Flexsteel Industries

Hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC purchased a new stake in Flexsteel Industries in the first quarter worth $221,000. Jones Financial Companies Lllp lifted its position in Flexsteel Industries by 5,214.0% during the first quarter. Jones Financial Companies Lllp now owns 2,657 shares of the company’s stock valued at $97,000 after buying an additional 2,607 shares during the period. Empowered Funds LLC boosted its holdings in shares of Flexsteel Industries by 7.0% during the 1st quarter. Empowered Funds LLC now owns 24,749 shares of the company’s stock valued at $904,000 after buying an additional 1,622 shares in the last quarter. First Trust Advisors LP boosted its holdings in shares of Flexsteel Industries by 4.1% during the 2nd quarter. First Trust Advisors LP now owns 11,745 shares of the company’s stock valued at $423,000 after buying an additional 467 shares in the last quarter. Finally, Qube Research & Technologies Ltd grew its position in shares of Flexsteel Industries by 7.0% in the 2nd quarter. Qube Research & Technologies Ltd now owns 28,888 shares of the company’s stock worth $1,041,000 after buying an additional 1,881 shares during the period. 36.27% of the stock is currently owned by institutional investors.

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.