Walleye Capital LLC Invests $1.36 Million in Flexsteel Industries, Inc. $FLXS

Walleye Capital LLC acquired a new stake in Flexsteel Industries, Inc. (NASDAQ:FLXS) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 30,248 shares of the company’s stock, valued at approximately $1,359,000. Walleye Capital LLC owned 0.56% of Flexsteel Industries as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Deutsche Bank AG grew its holdings in Flexsteel Industries by 11.1% in the 4th quarter. Deutsche Bank AG now owns 3,024 shares of the company’s stock valued at $119,000 after buying an additional 303 shares during the period. Barclays PLC lifted its holdings in shares of Flexsteel Industries by 6.4% during the 4th quarter. Barclays PLC now owns 5,527 shares of the company’s stock worth $218,000 after acquiring an additional 333 shares during the period. Russell Investments Group Ltd. boosted its position in shares of Flexsteel Industries by 24.7% in the third quarter. Russell Investments Group Ltd. now owns 1,991 shares of the company’s stock worth $92,000 after acquiring an additional 395 shares during the last quarter. First Trust Advisors LP boosted its position in shares of Flexsteel Industries by 4.1% in the second quarter. First Trust Advisors LP now owns 11,745 shares of the company’s stock worth $423,000 after acquiring an additional 467 shares during the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in Flexsteel Industries by 149.6% in the third quarter. BNP Paribas Financial Markets now owns 971 shares of the company’s stock valued at $45,000 after purchasing an additional 582 shares during the period. 36.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FLXS has been the subject of several research analyst reports. Zacks Research lowered shares of Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Wall Street Zen lowered shares of Flexsteel Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 25th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Flexsteel Industries in a research note on Friday, July 17th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy”.

Flexsteel Industries Price Performance

Flexsteel Industries stock opened at $75.19 on Friday. The stock’s 50-day moving average is $64.96 and its 200-day moving average is $53.89. The company has a market cap of $403.02 million, a price-to-earnings ratio of 13.62, a price-to-earnings-growth ratio of 1.24 and a beta of 0.54. Flexsteel Industries, Inc. has a 12 month low of $32.65 and a 12 month high of $77.19.

Flexsteel Industries (NASDAQ:FLXS) last issued its earnings results on Monday, April 20th. The company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.39. The business had revenue of $115.13 million during the quarter, compared to analysts’ expectations of $118.32 million. Flexsteel Industries had a return on equity of 16.10% and a net margin of 6.79%. Research analysts anticipate that Flexsteel Industries, Inc. will post 4.78 EPS for the current year.

Flexsteel Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Wednesday, June 24th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.3%. This is a positive change from Flexsteel Industries’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, June 24th. Flexsteel Industries’s dividend payout ratio is presently 18.12%.

About Flexsteel Industries

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.