LSV Asset Management Has $674,000 Position in Flexsteel Industries, Inc. $FLXS

LSV Asset Management boosted its stake in shares of Flexsteel Industries, Inc. (NASDAQ:FLXS) by 1,977.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,700 shares of the company’s stock after purchasing an additional 17,800 shares during the quarter. LSV Asset Management owned about 0.35% of Flexsteel Industries worth $674,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. US Bancorp DE acquired a new stake in shares of Flexsteel Industries in the first quarter worth $26,000. Russell Investments Group Ltd. bought a new position in Flexsteel Industries in the 1st quarter worth $58,000. Jones Financial Companies Lllp lifted its position in Flexsteel Industries by 5,214.0% during the 1st quarter. Jones Financial Companies Lllp now owns 2,657 shares of the company’s stock worth $97,000 after acquiring an additional 2,607 shares during the last quarter. AQR Capital Management LLC bought a new stake in Flexsteel Industries during the first quarter valued at about $221,000. Finally, RMG Wealth Management LLC bought a new stake in Flexsteel Industries during the second quarter valued at about $242,000. Institutional investors and hedge funds own 36.27% of the company’s stock.

Flexsteel Industries Price Performance

Shares of FLXS stock opened at $37.44 on Friday. Flexsteel Industries, Inc. has a one year low of $29.38 and a one year high of $65.87. The stock has a fifty day moving average price of $40.37 and a 200 day moving average price of $38.07. The stock has a market cap of $199.93 million, a P/E ratio of 9.11, a price-to-earnings-growth ratio of 0.82 and a beta of 0.55.

Flexsteel Industries (NASDAQ:FLXS) last announced its quarterly earnings data on Monday, October 20th. The company reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.53. The company had revenue of $110.44 million during the quarter, compared to analysts’ expectations of $105.38 million. Flexsteel Industries had a net margin of 5.22% and a return on equity of 16.28%. During the same quarter in the prior year, the company posted $0.74 EPS. Equities research analysts anticipate that Flexsteel Industries, Inc. will post 3.53 EPS for the current year.

Flexsteel Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 6th. Shareholders of record on Wednesday, September 24th were paid a dividend of $0.20 per share. The ex-dividend date was Wednesday, September 24th. This represents a $0.80 dividend on an annualized basis and a yield of 2.1%. Flexsteel Industries’s dividend payout ratio (DPR) is currently 19.46%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on FLXS shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Flexsteel Industries in a research note on Wednesday. Zacks Research downgraded Flexsteel Industries from a “strong-buy” rating to a “strong sell” rating in a research report on Thursday, October 16th. Finally, Wall Street Zen lowered Flexsteel Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 18th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Flexsteel Industries currently has an average rating of “Reduce”.

Insider Buying and Selling

In other Flexsteel Industries news, insider Michael Joseph Mcclaflin sold 2,600 shares of Flexsteel Industries stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $46.75, for a total transaction of $121,550.00. Following the sale, the insider directly owned 33,576 shares of the company’s stock, valued at approximately $1,569,678. The trade was a 7.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 11.20% of the stock is currently owned by corporate insiders.

Flexsteel Industries Profile

Flexsteel Industries, Inc, together with its subsidiaries, operates as a manufacturer, importer, and markets of upholstered furniture for residential and contract markets in the United States. It provides upholstered furniture, such as sofas, loveseats, chairs, reclining rocking chairs, swivel rockers, sofa beds, convertible bedding units, occasional tables, desks, dining tables and chairs, kitchen storage, bedroom furniture, and outdoor furniture.