StockNews.com cut shares of Flexsteel Industries (NASDAQ:FLXS – Free Report) from a buy rating to a hold rating in a research report report published on Friday.
Separately, TheStreet upgraded shares of Flexsteel Industries from a c rating to a b- rating in a report on Monday, February 5th.
Check Out Our Latest Research Report on FLXS
Flexsteel Industries Stock Down 2.7 %
Flexsteel Industries (NASDAQ:FLXS – Get Free Report) last announced its quarterly earnings results on Monday, April 29th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.11. The business had revenue of $107.22 million during the quarter, compared to the consensus estimate of $102.11 million. Flexsteel Industries had a return on equity of 6.54% and a net margin of 3.87%. On average, analysts forecast that Flexsteel Industries will post 2.09 EPS for the current fiscal year.
Flexsteel Industries Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Tuesday, March 26th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend was Monday, March 25th. Flexsteel Industries’s dividend payout ratio is presently 20.34%.
Institutional Investors Weigh In On Flexsteel Industries
Hedge funds and other institutional investors have recently modified their holdings of the stock. Marion Wealth Management lifted its stake in Flexsteel Industries by 7.1% in the 1st quarter. Marion Wealth Management now owns 29,837 shares of the company’s stock worth $1,113,000 after purchasing an additional 1,979 shares in the last quarter. Empowered Funds LLC boosted its position in shares of Flexsteel Industries by 7.7% during the 1st quarter. Empowered Funds LLC now owns 19,536 shares of the company’s stock valued at $729,000 after acquiring an additional 1,400 shares during the last quarter. Acadian Asset Management LLC bought a new stake in Flexsteel Industries in the first quarter worth $435,000. Heron Bay Capital Management bought a new position in Flexsteel Industries in the 1st quarter valued at $298,000. Finally, Weitzel Financial Services Inc. bought a new position in shares of Flexsteel Industries during the 1st quarter worth $264,000. 36.27% of the stock is currently owned by hedge funds and other institutional investors.
Flexsteel Industries Company 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.
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