Flexsteel Industries (NASDAQ:FLXS) Director William Creekmuir Sells 1,000 Shares of Stock

Flexsteel Industries, Inc. (NASDAQ:FLXS) Director William Creekmuir sold 1,000 shares of the business’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $81.03, for a total transaction of $81,030.00. Following the completion of the sale, the director owned 19,226 shares in the company, valued at $1,557,882.78. This represents a 4.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Flexsteel Industries Stock Down 0.7%

Flexsteel Industries stock opened at $81.55 on Thursday. Flexsteel Industries, Inc. has a 52-week low of $34.00 and a 52-week high of $88.49. The firm’s fifty day moving average is $77.41 and its 200 day moving average is $62.72. The company has a market cap of $437.11 million, a price-to-earnings ratio of 13.13, a PEG ratio of 1.29 and a beta of 0.57.

Flexsteel Industries (NASDAQ:FLXS) last issued its quarterly earnings data on Monday, August 17th. The company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.24. Flexsteel Industries had a net margin of 7.21% and a return on equity of 16.11%. The business had revenue of $115.37 million during the quarter, compared to analysts’ expectations of $109.51 million. On average, equities research analysts anticipate that Flexsteel Industries, Inc. will post 5.29 earnings per share for the current fiscal year.

Flexsteel Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, October 12th. Investors of record on Wednesday, September 30th will be given a $0.25 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $1.00 annualized dividend and a yield of 1.2%. Flexsteel Industries’s dividend payout ratio (DPR) is currently 16.10%.

Hedge Funds Weigh In On Flexsteel Industries

Hedge funds have recently added to or reduced their stakes in the company. Legal & General Group Plc bought a new stake in Flexsteel Industries during the 2nd quarter valued at $25,000. Public Employees Retirement System of Ohio increased its holdings in shares of Flexsteel Industries by 16.4% during the first quarter. Public Employees Retirement System of Ohio now owns 3,729 shares of the company’s stock valued at $168,000 after acquiring an additional 526 shares in the last quarter. Punch & Associates Investment Management Inc. raised its holdings in shares of Flexsteel Industries by 0.6% in the first quarter. Punch & Associates Investment Management Inc. now owns 91,525 shares of the company’s stock worth $4,113,000 after buying an additional 545 shares during the last quarter. Lazard Asset Management LLC raised its stake in Flexsteel Industries by 3.2% in the 1st quarter. Lazard Asset Management LLC now owns 21,294 shares of the company’s stock worth $957,000 after acquiring an additional 666 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. acquired a new stake in shares of Flexsteel Industries during the second quarter worth about $67,000. 36.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Freedom Broker downgraded Flexsteel Industries from a “buy” rating to a “hold” rating and upped their price objective for the company from $72.00 to $80.00 in a research report on Tuesday, August 18th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Flexsteel Industries in a report on Friday, July 17th. Freedom Capital downgraded Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 18th. Finally, Zacks Research lowered Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 21st. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $80.00.

Flexsteel Industries Company Profile

Flexsteel Industries, Inc is a furniture manufacturer and distributor headquartered in Dubuque, Iowa. Founded in 1893, the company develops and sells residential furniture under the Flexsteel brand, with a focus on upholstered seating and furnishings for living rooms, family rooms, bedrooms, dining areas and home offices.

Its product portfolio includes sofas, sectionals, recliners, chairs, mattresses, beds, dressers, dining tables, dining chairs and occasional furniture. Flexsteel is known for its Blue Steel Spring seating technology, which is incorporated into many of its upholstered furniture products.