North Star Investment Management Corp. Sells 10,000 Shares of Flexsteel Industries, Inc. $FLXS

North Star Investment Management Corp. trimmed its position in Flexsteel Industries, Inc. (NASDAQ:FLXS) by 15.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,400 shares of the company’s stock after selling 10,000 shares during the quarter. North Star Investment Management Corp. owned about 1.02% of Flexsteel Industries worth $2,445,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mariner LLC bought a new position in shares of Flexsteel Industries in the fourth quarter worth approximately $46,099,000. Vanguard Group Inc. raised its position in shares of Flexsteel Industries by 0.3% during the 3rd quarter. Vanguard Group Inc. now owns 225,855 shares of the company’s stock valued at $10,468,000 after purchasing an additional 708 shares during the period. Punch & Associates Investment Management Inc. lifted its stake in shares of Flexsteel Industries by 23.8% during the 4th quarter. Punch & Associates Investment Management Inc. now owns 90,980 shares of the company’s stock valued at $3,593,000 after buying an additional 17,478 shares in the last quarter. State Street Corp lifted its stake in shares of Flexsteel Industries by 5.4% during the 4th quarter. State Street Corp now owns 84,028 shares of the company’s stock valued at $3,335,000 after buying an additional 4,334 shares in the last quarter. Finally, Bridgeway Capital Management LLC boosted its holdings in Flexsteel Industries by 5.2% in the 3rd quarter. Bridgeway Capital Management LLC now owns 66,406 shares of the company’s stock worth $3,078,000 after buying an additional 3,300 shares during the period. Institutional investors own 36.27% of the company’s stock.

Flexsteel Industries Price Performance

Shares of FLXS stock opened at $72.91 on Monday. The company’s fifty day simple moving average is $57.28 and its two-hundred day simple moving average is $49.62. Flexsteel Industries, Inc. has a 52 week low of $32.65 and a 52 week high of $74.90. The stock has a market cap of $390.80 million, a P/E ratio of 13.21, a PEG ratio of 1.27 and a beta of 0.58.

Flexsteel Industries (NASDAQ:FLXS) last issued its quarterly earnings data on Monday, April 20th. The company reported $1.14 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.39. Flexsteel Industries had a return on equity of 16.10% and a net margin of 6.79%.The firm had revenue of $115.13 million during the quarter, compared to analyst estimates of $118.32 million. On average, analysts anticipate that Flexsteel Industries, Inc. will post 4.78 EPS for the current fiscal year.

Flexsteel Industries Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 6th. Investors of record on Wednesday, June 24th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, June 24th. This is a boost from Flexsteel Industries’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a yield of 1.4%. Flexsteel Industries’s dividend payout ratio is currently 18.12%.

Wall Street Analyst Weigh In

FLXS has been the subject of a number of analyst reports. Wall Street Zen lowered Flexsteel Industries from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 25th. Zacks Research upgraded Flexsteel Industries from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 26th. Finally, Weiss Ratings upgraded Flexsteel Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Strong Buy”.

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.