6,489 Shares in Flexsteel Industries, Inc. $FLXS Purchased by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio purchased a new stake in Flexsteel Industries, Inc. (NASDAQ:FLXS) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 6,489 shares of the company’s stock, valued at approximately $483,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FLXS. Mariner LLC purchased a new position in shares of Flexsteel Industries in the 4th quarter valued at approximately $46,099,000. BlackRock Inc. purchased a new stake in shares of Flexsteel Industries during the second quarter worth approximately $20,589,000. Punch & Associates Investment Management Inc. acquired a new stake in shares of Flexsteel Industries during the second quarter worth $6,817,000. Bank of New York Mellon Corp acquired a new stake in shares of Flexsteel Industries during the second quarter worth $3,543,000. Finally, Walleye Capital LLC purchased a new position in Flexsteel Industries in the 1st quarter valued at $1,359,000. 36.27% of the stock is owned by hedge funds and other institutional investors.

Flexsteel Industries Stock Performance

NASDAQ:FLXS opened at $82.74 on Friday. Flexsteel Industries, Inc. has a 1 year low of $34.00 and a 1 year high of $88.49. The stock has a fifty day moving average price of $76.56 and a two-hundred day moving average price of $61.91. The stock has a market capitalization of $443.49 million, a price-to-earnings ratio of 13.32, a PEG ratio of 1.31 and a beta of 0.57.

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

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on FLXS shares. Freedom Broker cut shares of Flexsteel Industries from a “buy” rating to a “hold” rating and boosted their price objective for the company from $72.00 to $80.00 in a research note on Tuesday, August 18th. Freedom Capital downgraded shares of Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 18th. Zacks Research lowered shares of Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 21st. Finally, Weiss Ratings reissued 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 three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $80.00.

Insider Activity at Flexsteel Industries

In other news, Director William S. Creekmuir sold 3,100 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $81.85, for a total transaction of $253,735.00. Following the sale, the director owned 29,284 shares of the company’s stock, valued at $2,396,895.40. The trade was a 9.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael McClaflin sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $79.57, for a total value of $198,925.00. Following the completion of the sale, the insider owned 36,026 shares in the company, valued at approximately $2,866,588.82. This represents a 6.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 24,964 shares of company stock valued at $2,029,438. 11.20% of the stock is owned by corporate insiders.

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.