30,494 Shares in Flexsteel Industries, Inc. $FLXS Bought by Sowell Financial Services LLC

Sowell Financial Services LLC acquired a new position in shares of Flexsteel Industries, Inc. (NASDAQ:FLXS) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 30,494 shares of the company’s stock, valued at approximately $2,581,000. Sowell Financial Services LLC owned about 0.57% of Flexsteel Industries at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of FLXS. Legal & General Group Plc purchased a new stake in Flexsteel Industries in the 2nd quarter valued at approximately $25,000. C M Bidwell & Associates Ltd. purchased a new position in Flexsteel Industries during the second quarter worth $67,000. IFP Advisors Inc increased its position in Flexsteel Industries by 52.5% during the second quarter. IFP Advisors Inc now owns 3,052 shares of the company’s stock worth $227,000 after buying an additional 1,051 shares in the last quarter. Deutsche Bank AG purchased a new position in Flexsteel Industries during the second quarter worth $234,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in Flexsteel Industries during the second quarter worth $246,000. 36.27% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Flexsteel Industries news, insider David Crimmins sold 4,494 shares of Flexsteel Industries stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $80.91, for a total value of $363,609.54. Following the completion of the sale, the insider owned 30,194 shares in the company, valued at $2,442,996.54. The trade was a 12.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Stacy Kammes sold 2,750 shares of the company’s stock in a transaction dated Tuesday, September 8th. The shares were sold at an average price of $82.66, for a total transaction of $227,315.00. Following the transaction, the vice president directly owned 33,306 shares of the company’s stock, valued at approximately $2,753,073.96. This represents a 7.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 28,914 shares of company stock valued at $2,350,392. 11.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on FLXS shares. Freedom Capital cut Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 18th. Weiss Ratings raised Flexsteel Industries from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Zacks Research raised Flexsteel Industries from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 1st. Finally, Freedom Broker cut Flexsteel Industries from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $72.00 to $80.00 in a research report on Tuesday, August 18th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $80.00.

Flexsteel Industries Stock Up 1.7%

Shares of Flexsteel Industries stock opened at $84.98 on Friday. Flexsteel Industries, Inc. has a fifty-two week low of $34.00 and a fifty-two week high of $90.64. The firm has a market cap of $455.49 million, a PE ratio of 16.85, a P/E/G ratio of 1.32 and a beta of 0.51. The business’s fifty day moving average is $83.07 and its two-hundred day moving average is $69.84.

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

Flexsteel Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, October 12th. Investors of record on Wednesday, September 30th were given a dividend of $0.25 per share. The ex-dividend date was Wednesday, September 30th. This represents a $1.00 annualized dividend and a yield of 1.2%. Flexsteel Industries’s dividend payout ratio is 16.10%.

Flexsteel Industries Profile

Flexsteel Industries, Inc is a furniture company that designs, manufactures, imports and markets residential furniture. Based in Dubuque, Iowa, the company serves the U.S. home furnishings market through retail furniture stores, national and regional chains, interior designers and online channels.

The company’s product offerings include upholstered seating such as sofas, sectionals, chairs and recliners, along with motion furniture, dining and bedroom furniture, occasional tables and home office products.