SummerHaven Investment Management LLC Acquires Shares of 21,390 Flexsteel Industries, Inc. $FLXS

SummerHaven Investment Management LLC acquired a new position in shares of Flexsteel Industries, Inc. (NASDAQ:FLXS) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 21,390 shares of the company’s stock, valued at approximately $991,000. SummerHaven Investment Management LLC owned about 0.40% of Flexsteel Industries as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in FLXS. LSV Asset Management increased its position in Flexsteel Industries by 1,977.8% during the second quarter. LSV Asset Management now owns 18,700 shares of the company’s stock worth $674,000 after buying an additional 17,800 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of Flexsteel Industries by 16.2% in the second quarter. Acadian Asset Management LLC now owns 59,971 shares of the company’s stock valued at $2,159,000 after acquiring an additional 8,366 shares during the period. Los Angeles Capital Management LLC grew its position in shares of Flexsteel Industries by 12.7% during the second quarter. Los Angeles Capital Management LLC now owns 42,939 shares of the company’s stock worth $1,547,000 after acquiring an additional 4,840 shares during the last quarter. RMG Wealth Management LLC acquired a new position in shares of Flexsteel Industries in the 2nd quarter valued at $242,000. Finally, Inspire Investing LLC purchased a new stake in Flexsteel Industries in the 3rd quarter valued at $955,000. 36.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on FLXS. Zacks Research raised shares of Flexsteel Industries from a “strong sell” rating to a “hold” rating in a research report on Monday, December 15th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Flexsteel Industries in a research note on Monday, December 29th. Finally, Wall Street Zen cut Flexsteel Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 18th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold”.

Flexsteel Industries Stock Performance

Shares of Flexsteel Industries stock opened at $39.44 on Wednesday. Flexsteel Industries, Inc. has a one year low of $29.38 and a one year high of $64.14. The company has a market cap of $210.61 million, a P/E ratio of 9.60, a PEG ratio of 0.94 and a beta of 0.51. The firm has a fifty day moving average of $40.36 and a two-hundred day moving average of $40.42.

Flexsteel Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 8th. Stockholders of record on Monday, December 29th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Monday, December 29th. Flexsteel Industries’s dividend payout ratio is 19.46%.

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.