Flexsteel Industries (NASDAQ:FLXS) Insider Michael Joseph Mcclaflin Sells 500 Shares of Stock

Flexsteel Industries, Inc. (NASDAQ:FLXS) insider Michael Joseph Mcclaflin sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $79.66, for a total transaction of $39,830.00. Following the completion of the sale, the insider owned 35,897 shares in the company, valued at $2,859,555.02. This represents a 1.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Flexsteel Industries Stock Performance

Shares of NASDAQ:FLXS opened at $80.60 on Tuesday. The stock’s 50-day simple moving average is $73.17 and its two-hundred day simple moving average is $59.40. The stock has a market capitalization of $432.02 million, a price-to-earnings ratio of 12.98, a PEG ratio of 1.28 and a beta of 0.56. Flexsteel Industries, Inc. has a 52-week low of $34.00 and a 52-week high of $88.49.

Flexsteel Industries (NASDAQ:FLXS) last issued its quarterly earnings data on Monday, August 17th. The company reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.24. The firm had revenue of $115.37 million during 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, equities analysts forecast that Flexsteel Industries, Inc. will post 5.29 earnings per share for the current fiscal year.

Flexsteel Industries Increases Dividend

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

Analysts Set New Price Targets

Several research firms have commented on FLXS. Freedom Capital downgraded shares of Flexsteel Industries from a “strong-buy” rating to a “hold” rating 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. Finally, Zacks Research downgraded Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 21st. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Flexsteel Industries currently has an average rating of “Hold”.

Hedge Funds Weigh In On Flexsteel Industries

Large investors have recently made changes to their positions in the company. Legal & General Group Plc purchased a new stake in Flexsteel Industries in the second quarter worth $25,000. IFP Advisors Inc boosted its stake in shares of Flexsteel Industries by 2,200.0% during the third quarter. IFP Advisors Inc now owns 621 shares of the company’s stock valued at $29,000 after purchasing an additional 594 shares during the period. State of Alaska Department of Revenue bought a new position in shares of Flexsteel Industries in the fourth quarter worth about $38,000. BNP Paribas Financial Markets grew 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 last quarter. Finally, Farther Finance Advisors LLC bought a new position in shares of Flexsteel Industries in the fourth quarter worth about $49,000. 36.27% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Flexsteel Industries

Here are the key news stories impacting Flexsteel Industries this week:

• Positive Sentiment: Strong quarterly results support the stock. Flexsteel reported quarterly EPS of $1.33, surpassing the $1.09 analyst consensus, while revenue of $115.37 million exceeded expectations of $109.51 million. The company’s 7.21% net margin and 16.11% return on equity also indicate healthy profitability. Flexsteel Flexes Its Muscles in the Second Quarter
• Positive Sentiment: Dividend growth adds to shareholder appeal. Flexsteel increased its quarterly dividend to $0.25 from $0.20, or $1.00 annually, implying a yield of approximately 1.2% and a modest 16.1% payout ratio. Flexsteel Is Flexing Its Muscles, Again
• Neutral Sentiment: Investor-relations event could provide a near-term catalyst. CEO Derek Schmidt and CFO Mike Ressler are scheduled to present and hold one-on-one meetings at the Midwest IDEAS Investor Conference in Chicago on August 26. Any comments on demand, margins or the outlook could influence investor sentiment. Flexsteel Investor Conference Announcement
• Neutral Sentiment: Analyst sentiment is mixed. Although Weiss Ratings maintained a buy-equivalent view, Zacks Research and Freedom Capital downgraded the shares to hold. The overall analyst consensus is Hold, which may limit buying enthusiasm after the stock’s substantial advance.
• Negative Sentiment: Several insiders sold shares. VP Stacy Marie Kammes sold 2,250 shares for about $182,250, while insider David Edward Crimmins sold 5,756 shares worth roughly $463,333 and Michael Joseph Mcclaflin sold 500 shares. These transactions reduced the insiders’ individual holdings by 7.4%, 16.5% and 1.4%, respectively, potentially signaling profit-taking and creating short-term sentiment pressure. Flexsteel Insider Selling Report

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.