Punch & Associates Investment Management Inc. boosted its position in shares of Flexsteel Industries, Inc. (NASDAQ:FLXS – Free Report) by 23.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 90,980 shares of the company’s stock after acquiring an additional 17,478 shares during the quarter. Punch & Associates Investment Management Inc.’s holdings in Flexsteel Industries were worth $3,593,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of FLXS. IFP Advisors Inc boosted its holdings in Flexsteel Industries by 2,200.0% during the 3rd quarter. IFP Advisors Inc now owns 621 shares of the company’s stock valued at $29,000 after acquiring an additional 594 shares during the period. State of Alaska Department of Revenue purchased a new position in Flexsteel Industries during the 4th quarter valued at about $38,000. BNP Paribas Financial Markets boosted its holdings in Flexsteel Industries by 149.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 971 shares of the company’s stock valued at $45,000 after acquiring an additional 582 shares during the period. Farther Finance Advisors LLC purchased a new position in shares of Flexsteel Industries in the 4th quarter valued at about $49,000. Finally, Copeland Capital Management LLC purchased a new position in shares of Flexsteel Industries in the 4th quarter valued at about $59,000. 36.27% of the stock is currently owned by hedge funds and other institutional investors.
Flexsteel Industries Stock Performance
Shares of NASDAQ FLXS opened at $62.44 on Wednesday. Flexsteel Industries, Inc. has a fifty-two week low of $32.65 and a fifty-two week high of $65.03. The firm has a market capitalization of $334.68 million, a PE ratio of 11.31, a price-to-earnings-growth ratio of 1.11 and a beta of 0.58. The stock’s 50-day simple moving average is $54.19 and its 200-day simple moving average is $48.12.
Flexsteel Industries Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 6th. Stockholders of record on Wednesday, June 24th will be given a dividend of $0.25 per share. This is a boost from Flexsteel Industries’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Wednesday, June 24th. This represents a $1.00 annualized dividend and a dividend yield of 1.6%. Flexsteel Industries’s dividend payout ratio is 14.49%.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on FLXS. Zacks Research upgraded Flexsteel Industries from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 26th. Wall Street Zen cut Flexsteel Industries from a “strong-buy” rating to a “buy” rating in a research note on Saturday, April 25th. Finally, Weiss Ratings upgraded Flexsteel Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research note 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’s stock. According to MarketBeat, the stock has a consensus rating of “Strong Buy”.
View Our Latest Research Report on FLXS
Flexsteel Industries 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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