William Creekmuir Sells 3,100 Shares of Flexsteel Industries (NASDAQ:FLXS) Stock

Flexsteel Industries, Inc. (NASDAQ:FLXS) Director William Creekmuir sold 3,100 shares of the firm’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $81.58, for a total transaction of $252,898.00. Following the completion of the transaction, the director directly owned 23,176 shares in the company, valued at $1,890,698.08. This trade represents a 11.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Flexsteel Industries Stock Performance

NASDAQ:FLXS opened at $83.13 on Thursday. Flexsteel Industries, Inc. has a one year low of $34.00 and a one year high of $88.49. The stock has a market cap of $445.24 million, a PE ratio of 13.39, a P/E/G ratio of 1.33 and a beta of 0.57. The stock has a 50 day moving average price of $76.35 and a 200 day moving average price of $61.70.

Flexsteel Industries (NASDAQ:FLXS) last issued 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. Flexsteel Industries had a return on equity of 16.11% and a net margin of 7.21%.The company had revenue of $115.37 million during the quarter, compared to analysts’ expectations of $109.51 million. As a group, analysts predict that Flexsteel Industries, Inc. will post 5.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Flexsteel Industries

A number of institutional investors have recently modified their holdings of the company. Legal & General Group Plc acquired a new position in Flexsteel Industries during the 2nd quarter worth about $25,000. IFP Advisors Inc increased its stake in Flexsteel Industries by 2,200.0% during the third quarter. IFP Advisors Inc now owns 621 shares of the company’s stock worth $29,000 after purchasing an additional 594 shares during the period. BNP Paribas Financial Markets increased its stake in Flexsteel Industries by 149.6% during 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 period. C M Bidwell & Associates Ltd. acquired a new stake in shares of Flexsteel Industries during the second quarter worth about $67,000. Finally, Russell Investments Group Ltd. lifted its position in shares of Flexsteel Industries by 24.7% during the third quarter. Russell Investments Group Ltd. now owns 1,991 shares of the company’s stock worth $92,000 after purchasing an additional 395 shares in the last quarter. 36.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on FLXS. Zacks Research downgraded Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 21st. Freedom Capital lowered shares of Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 18th. Freedom Broker cut shares of Flexsteel Industries from a “buy” rating to a “hold” rating and upped their target price for the company from $72.00 to $80.00 in a research report on Tuesday, August 18th. Finally, Weiss Ratings reaffirmed 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 three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $80.00.

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.