Flexsteel Industries (NASDAQ:FLXS) Insider David Edward Crimmins Sells 6,100 Shares of Stock

Flexsteel Industries, Inc. (NASDAQ:FLXS) insider David Crimmins sold 6,100 shares of Flexsteel Industries stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $72.67, for a total transaction of $443,287.00. Following the completion of the sale, the insider owned 32,078 shares of the company’s stock, valued at $2,331,108.26. This represents a 15.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Tuesday, November 10th, David Crimmins sold 3,850 shares of Flexsteel Industries stock. The shares were sold at an average price of $72.61, for a total transaction of $279,548.50.
• On Friday, August 21st, David Crimmins sold 4,494 shares of Flexsteel Industries stock. The shares were 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 Trading Up 0.3%

NASDAQ:FLXS opened at $75.13 on Friday. Flexsteel Industries, Inc. has a 12 month low of $34.59 and a 12 month high of $90.64. The company has a market cap of $312.69 million, a PE ratio of 12.24, a price-to-earnings-growth ratio of 1.16 and a beta of 0.61. The company has a 50 day simple moving average of $81.64 and a two-hundred day simple moving average of $65.14.

Flexsteel Industries (NASDAQ:FLXS) last announced its earnings results on Monday, October 26th. The company reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.01. The business had revenue of $113.97 million during the quarter, compared to analyst estimates of $112.70 million. Flexsteel Industries had a net margin of 6.75% and a return on equity of 15.92%. Research analysts forecast that Flexsteel Industries, Inc. will post 5.40 earnings per share for the current year.

Flexsteel Industries Announces Dividend

The company also recently disclosed 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. This represents a $1.00 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Wednesday, September 30th. Flexsteel Industries’s dividend payout ratio is 16.29%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Weiss Ratings downgraded Flexsteel Industries from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, November 3rd. Freedom Broker boosted their price target on Flexsteel Industries from $80.00 to $86.00 and gave the company a “hold” rating in a research note on Tuesday, October 27th. Zacks Research raised shares of Flexsteel Industries from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 1st. Finally, Freedom Capital lowered shares of Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 18th. One 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 stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $86.00.

Hedge Funds Weigh In On Flexsteel Industries

Several institutional investors and hedge funds have recently bought and sold shares of FLXS. Congress Asset Management Co. purchased a new stake in Flexsteel Industries in the third quarter worth about $6,824,000. BlackRock Inc. purchased a new position in shares of Flexsteel Industries during the 2nd quarter valued at about $20,589,000. Sowell Financial Services LLC purchased a new position in shares of Flexsteel Industries during the 3rd quarter valued at about $2,581,000. Walleye Capital LLC purchased a new position in shares of Flexsteel Industries during the 1st quarter valued at about $1,359,000. Finally, Bank of America Corp DE grew its stake in shares of Flexsteel Industries by 462.3% during the 1st quarter. Bank of America Corp DE now owns 27,536 shares of the company’s stock valued at $1,237,000 after acquiring an additional 22,639 shares during the period. 36.27% of the stock is currently owned by hedge funds and other institutional investors.

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.