Flexsteel Industries (NASDAQ:FLXS) Insider Sells $279,548.50 in Stock

Flexsteel Industries, Inc. (NASDAQ:FLXS) insider David Crimmins sold 3,850 shares of the company’s stock in a transaction on Tuesday, November 10th. The shares were sold at an average price of $72.61, for a total transaction of $279,548.50. Following the completion of the sale, the insider owned 28,228 shares of the company’s stock, valued at approximately $2,049,635.08. This trade represents a 12.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

David Edward Crimmins also recently made the following trade(s):

• On Monday, November 9th, David Crimmins sold 6,100 shares of Flexsteel Industries stock. The stock was sold at an average price of $72.67, for a total transaction of $443,287.00.
• On Friday, August 21st, David Crimmins sold 4,494 shares of Flexsteel Industries stock. The stock was sold at an average price of $80.91, for a total transaction of $363,609.54.
• On Thursday, August 20th, David Crimmins sold 1,262 shares of Flexsteel Industries stock. The stock was sold at an average price of $79.02, for a total transaction of $99,723.24.

Flexsteel Industries Stock Performance

NASDAQ FLXS traded up $0.06 during trading on Thursday, reaching $74.96. The company’s stock had a trading volume of 19,148 shares, compared to its average volume of 56,934. The business’s fifty day moving average price is $81.76 and its 200-day moving average price is $64.96. Flexsteel Industries, Inc. has a twelve month low of $34.59 and a twelve month high of $90.64. The firm has a market cap of $311.83 million, a price-to-earnings ratio of 12.21, a P/E/G ratio of 1.12 and a beta of 0.61.

Flexsteel Industries (NASDAQ:FLXS) last issued its quarterly earnings results on Monday, October 26th. The company reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.01. The firm had revenue of $113.97 million for the quarter, compared to analysts’ expectations of $112.70 million. Flexsteel Industries had a return on equity of 15.92% and a net margin of 6.75%. As a group, sell-side analysts forecast that Flexsteel Industries, Inc. will post 5.40 EPS for the current fiscal year.

Flexsteel Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 12th. Stockholders of record on Wednesday, September 30th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Wednesday, September 30th. Flexsteel Industries’s dividend payout ratio is 16.29%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Ieq Capital LLC purchased a new position in shares of Flexsteel Industries in the third quarter valued at $266,000. Meeder Asset Management Inc. increased its position in Flexsteel Industries by 158.0% during the third quarter. Meeder Asset Management Inc. now owns 10,071 shares of the company’s stock worth $853,000 after purchasing an additional 6,167 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Flexsteel Industries by 156.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 20,010 shares of the company’s stock worth $1,694,000 after buying an additional 12,211 shares during the last quarter. Ritholtz Wealth Management lifted its stake in shares of Flexsteel Industries by 18.0% in the 3rd quarter. Ritholtz Wealth Management now owns 26,306 shares of the company’s stock valued at $2,227,000 after purchasing an additional 4,013 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Flexsteel Industries by 425.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 53,664 shares of the company’s stock worth $4,543,000 after acquiring an additional 43,448 shares in the last quarter. 36.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FLXS has been the subject of several recent research reports. Zacks Research raised Flexsteel Industries from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 1st. Freedom Capital downgraded shares of Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 18th. Weiss Ratings lowered shares of Flexsteel Industries from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, November 3rd. Finally, Freedom Broker boosted their price target on shares of Flexsteel Industries from $80.00 to $86.00 and gave the stock a “hold” rating in a research note on Tuesday, October 27th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Flexsteel Industries presently has a consensus rating of “Moderate Buy” and an average target price of $86.00.

About Flexsteel Industries

Flexsteel Industries designs, manufactures, imports and markets furniture for residential and commercial customers. Its products include sofas, recliners, sectionals and other upholstered seating, along with dining, bedroom and occasional furniture. The company sells products under the Flexsteel name and other brands through a network of furniture retailers and other distribution channels. Its offerings serve homes as well as commercial settings. Founded in 1893, Flexsteel is headquartered in Dubuque, Iowa, and serves customers primarily in the United States.