Flexsteel Industries (NASDAQ:FLXS) VP Stacy Marie Kammes Sells 2,250 Shares

Flexsteel Industries, Inc. (NASDAQ:FLXS) VP Stacy Marie Kammes sold 2,250 shares of the stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $81.00, for a total transaction of $182,250.00. Following the completion of the sale, the vice president owned 28,165 shares of the company’s stock, valued at approximately $2,281,365. This trade represents a 7.40% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Flexsteel Industries Stock Down 1.0%

Flexsteel Industries stock opened at $80.60 on Tuesday. Flexsteel Industries, Inc. has a 52 week low of $34.00 and a 52 week high of $88.49. The company’s 50 day moving average price is $73.17 and its two-hundred day moving average price is $59.40. The stock has a market cap of $432.02 million, a P/E ratio of 12.98, a P/E/G ratio of 1.28 and a beta of 0.56.

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

Flexsteel Industries Increases Dividend

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

Hedge Funds Weigh In On Flexsteel Industries

Several institutional investors and hedge funds have recently bought and sold shares of FLXS. Mariner LLC bought a new stake in shares of Flexsteel Industries in the fourth quarter valued at $46,099,000. BlackRock Inc. purchased a new position in shares of Flexsteel Industries during the 2nd quarter valued at $20,589,000. Punch & Associates Investment Management Inc. bought a new position in shares of Flexsteel Industries during the 2nd quarter worth $6,817,000. Bank of New York Mellon Corp bought a new position in shares of Flexsteel Industries during the 2nd quarter worth $3,543,000. Finally, Empowered Funds LLC purchased a new stake in Flexsteel Industries in the 2nd quarter worth about $2,459,000. 36.27% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Freedom Capital cut Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 18th. Weiss Ratings restated a “buy (b-)” rating on shares of Flexsteel Industries in a research report on Friday, July 17th. Finally, Zacks Research downgraded shares of Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 21st. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold”.

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.