Flexsteel Industries (NASDAQ:FLXS) Director William Creekmuir Sells 2,950 Shares of Stock

Flexsteel Industries, Inc. (NASDAQ:FLXS) Director William Creekmuir sold 2,950 shares of the stock in a transaction on Monday, September 14th. The stock was sold at an average price of $81.33, for a total transaction of $239,923.50. Following the completion of the sale, the director owned 20,226 shares in the company, valued at approximately $1,644,980.58. This trade represents a 12.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Flexsteel Industries Stock Down 0.7%

FLXS opened at $81.55 on Thursday. The stock has a market cap of $437.11 million, a P/E ratio of 13.13, a P/E/G ratio of 1.29 and a beta of 0.57. Flexsteel Industries, Inc. has a 12 month low of $34.00 and a 12 month high of $88.49. The company has a fifty day simple moving average of $77.41 and a 200 day simple moving average of $62.72.

Flexsteel Industries (NASDAQ:FLXS) last posted its earnings results on Monday, August 17th. The company reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.24. Flexsteel Industries had a return on equity of 16.11% and a net margin of 7.21%.The firm had revenue of $115.37 million during the quarter, compared to analysts’ expectations of $109.51 million. On average, equities research analysts expect that Flexsteel Industries, Inc. will post 5.29 earnings per share for the current fiscal year.

Flexsteel Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 12th. Investors of record on Wednesday, September 30th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. Flexsteel Industries’s dividend payout ratio is presently 16.10%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Freedom Capital downgraded Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 18th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Flexsteel Industries in a research report on Friday, July 17th. Freedom Broker downgraded Flexsteel Industries from a “buy” rating to a “hold” rating and increased their price objective for the stock from $72.00 to $80.00 in a report on Tuesday, August 18th. Finally, Zacks Research lowered Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 21st. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Flexsteel Industries currently has a consensus rating of “Hold” and an average price target of $80.00.

Hedge Funds Weigh In On Flexsteel Industries

Several hedge funds have recently modified their holdings of FLXS. Legal & General Group Plc acquired a new position in Flexsteel Industries during the second quarter valued at approximately $25,000. C M Bidwell & Associates Ltd. acquired a new position in shares of Flexsteel Industries during the 2nd quarter worth approximately $67,000. Public Employees Retirement System of Ohio increased its position in shares of Flexsteel Industries by 16.4% during the 1st quarter. Public Employees Retirement System of Ohio now owns 3,729 shares of the company’s stock worth $168,000 after purchasing an additional 526 shares during the last quarter. IFP Advisors Inc raised its stake in shares of Flexsteel Industries by 52.5% during the 2nd quarter. IFP Advisors Inc now owns 3,052 shares of the company’s stock worth $227,000 after purchasing an additional 1,051 shares in the last quarter. Finally, Deutsche Bank AG acquired a new stake in shares of Flexsteel Industries in the 2nd quarter valued at approximately $234,000. Institutional investors own 36.27% of the company’s stock.

Flexsteel Industries Company Profile

Flexsteel Industries, Inc is a furniture manufacturer and distributor headquartered in Dubuque, Iowa. Founded in 1893, the company develops and sells residential furniture under the Flexsteel brand, with a focus on upholstered seating and furnishings for living rooms, family rooms, bedrooms, dining areas and home offices.

Its product portfolio includes sofas, sectionals, recliners, chairs, mattresses, beds, dressers, dining tables, dining chairs and occasional furniture. Flexsteel is known for its Blue Steel Spring seating technology, which is incorporated into many of its upholstered furniture products.