Flexsteel Industries, Inc. (NASDAQ:FLXS – Get Free Report) insider David Edward Crimmins sold 4,494 shares of the company’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $80.91, for a total transaction of $363,609.54. Following the completion of the transaction, the insider owned 30,194 shares of the company’s stock, valued at $2,442,996.54. This trade represents a 12.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
David Edward Crimmins also recently made the following trade(s):
- On Thursday, August 20th, David Edward Crimmins sold 1,262 shares of Flexsteel Industries stock. The shares were sold at an average price of $79.02, for a total transaction of $99,723.24.
Flexsteel Industries Price Performance
Flexsteel Industries stock opened at $81.77 on Thursday. Flexsteel Industries, Inc. has a 12-month low of $34.00 and a 12-month high of $88.49. The company has a market capitalization of $438.29 million, a price-to-earnings ratio of 13.17, a price-to-earnings-growth ratio of 1.28 and a beta of 0.56. The firm’s fifty day moving average price is $73.92 and its 200 day moving average price is $59.91.
Flexsteel Industries Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Wednesday, June 24th were issued a $0.25 dividend. This is an increase from Flexsteel Industries’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Wednesday, June 24th. Flexsteel Industries’s dividend payout ratio (DPR) is currently 16.10%.
Analysts Set New Price Targets
A number of equities analysts have issued reports on FLXS shares. Freedom Broker lowered Flexsteel Industries from a “buy” rating to a “hold” rating and upped their target price for the company from $72.00 to $80.00 in a research report on Tuesday, August 18th. Zacks Research downgraded shares of Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 21st. Freedom Capital cut shares of Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 18th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Flexsteel Industries in a report on Friday, July 17th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $80.00.
Get Our Latest Analysis on Flexsteel Industries
Institutional Inflows and Outflows
Hedge funds have recently made changes to their positions in the company. Legal & General Group Plc acquired a new stake in shares of Flexsteel Industries during the 2nd quarter valued at approximately $25,000. IFP Advisors Inc boosted its holdings in Flexsteel Industries by 2,200.0% in the third quarter. IFP Advisors Inc now owns 621 shares of the company’s stock worth $29,000 after purchasing an additional 594 shares during the period. C M Bidwell & Associates Ltd. acquired a new position in Flexsteel Industries in the second quarter worth $67,000. BNP Paribas Financial Markets increased its stake in Flexsteel Industries by 149.6% during the third quarter. BNP Paribas Financial Markets now owns 971 shares of the company’s stock valued at $45,000 after purchasing an additional 582 shares during the last quarter. Finally, State of Alaska Department of Revenue bought a new stake in Flexsteel Industries during the fourth quarter valued at $38,000. Institutional investors and hedge funds own 36.27% of the company’s stock.
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.
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