William Creekmuir Sells 3,008 Shares of Flexsteel Industries (NASDAQ:FLXS) Stock

Flexsteel Industries, Inc. (NASDAQ:FLXS) Director William Creekmuir sold 3,008 shares of the company’s stock in a transaction on Tuesday, September 1st. The shares were sold at an average price of $81.54, for a total value of $245,272.32. Following the transaction, the director directly owned 26,276 shares in the company, valued at $2,142,545.04. This represents a 10.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Flexsteel Industries Stock Performance

Shares of FLXS opened at $82.16 on Friday. Flexsteel Industries, Inc. has a fifty-two week low of $34.00 and a fifty-two week high of $88.49. The business has a 50-day moving average of $75.84 and a 200 day moving average of $61.08. The firm has a market cap of $440.38 million, a P/E ratio of 13.23, a price-to-earnings-growth ratio of 1.27 and a beta of 0.57.

Flexsteel Industries (NASDAQ:FLXS) last released its quarterly earnings data on Monday, August 17th. The company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.09 by $0.24. The business had revenue of $115.37 million for the quarter, compared to the consensus estimate of $109.51 million. Flexsteel Industries had a net margin of 7.21% and a return on equity of 16.11%. As a group, research analysts predict that Flexsteel Industries, Inc. will post 5.29 earnings per share for the current fiscal year.

Flexsteel Industries Increases Dividend

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

Wall Street Analyst Weigh In

A number of equities research 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 target price for the company from $72.00 to $80.00 in a report on Tuesday, August 18th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Flexsteel Industries in a report on Friday, July 17th. Zacks Research cut Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 21st. Finally, Freedom Capital cut Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 18th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $80.00.

Institutional Trading of Flexsteel Industries

A number of hedge funds and other institutional investors have recently bought and sold shares of FLXS. Legal & General Group Plc bought a new position in Flexsteel Industries in the 2nd quarter valued at $25,000. IFP Advisors Inc increased its holdings 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 purchasing an additional 594 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of Flexsteel Industries by 149.6% in the third quarter. BNP Paribas Financial Markets now owns 971 shares of the company’s stock worth $45,000 after purchasing an additional 582 shares during the period. Farther Finance Advisors LLC purchased a new stake in shares of Flexsteel Industries in the fourth quarter worth $49,000. Finally, C M Bidwell & Associates Ltd. purchased a new stake in shares of Flexsteel Industries in the second quarter worth $67,000. Institutional investors own 36.27% of the company’s stock.

Flexsteel Industries Company 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.