Flexsteel Industries (NASDAQ:FLXS) VP Sells $227,315.00 in Stock

Flexsteel Industries, Inc. (NASDAQ:FLXS) VP Stacy Kammes sold 2,750 shares of the firm’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $82.66, for a total value of $227,315.00. Following the completion of the sale, the vice president directly owned 33,306 shares of the company’s stock, valued at $2,753,073.96. The trade was a 7.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Stacy Marie Kammes also recently made the following trade(s):

• On Friday, August 21st, Stacy Kammes sold 2,250 shares of Flexsteel Industries stock. The shares were sold at an average price of $81.00, for a total value of $182,250.00.

Flexsteel Industries Stock Performance

NASDAQ:FLXS opened at $82.74 on Friday. The stock’s fifty day moving average is $76.56 and its 200 day moving average is $61.91. Flexsteel Industries, Inc. has a fifty-two week low of $34.00 and a fifty-two week high of $88.49. The firm has a market capitalization of $443.49 million, a PE ratio of 13.32, a PEG ratio of 1.31 and a beta of 0.57.

Flexsteel Industries (NASDAQ:FLXS) last posted its quarterly earnings data on Monday, August 17th. The company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.09 by $0.24. Flexsteel Industries had a net margin of 7.21% and a return on equity of 16.11%. The company had revenue of $115.37 million during the quarter, compared to analyst estimates of $109.51 million. Equities analysts forecast that Flexsteel Industries, Inc. will post 5.29 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently commented on FLXS. Freedom Broker cut shares of Flexsteel Industries from a “buy” rating to a “hold” rating and lifted their price target for the stock from $72.00 to $80.00 in a research note on Tuesday, August 18th. Zacks Research downgraded shares of Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 21st. Weiss Ratings restated a “buy (b-)” rating on shares of Flexsteel Industries in a research report on Friday, July 17th. Finally, Freedom Capital lowered Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 18th. One investment 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 stock presently has a consensus rating of “Hold” and an average price target of $80.00.

Institutional Trading of Flexsteel Industries

Several institutional investors and hedge funds have recently made changes to their positions in FLXS. Mariner LLC purchased a new stake in Flexsteel Industries in the 4th quarter valued at about $46,099,000. BlackRock Inc. purchased a new position in shares of Flexsteel Industries during the second quarter worth approximately $20,589,000. Punch & Associates Investment Management Inc. purchased a new position in shares of Flexsteel Industries during the second quarter worth approximately $6,817,000. Bank of New York Mellon Corp bought a new stake in shares of Flexsteel Industries during the second quarter valued at approximately $3,543,000. Finally, Empowered Funds LLC bought a new stake in shares of Flexsteel Industries during the second quarter valued at approximately $2,459,000. 36.27% of the stock is currently owned by institutional investors.

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.