Flexsteel Industries (NASDAQ:FLXS – Get Free Report) posted its quarterly earnings data on Monday. The company reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.24, Zacks reports. Flexsteel Industries had a net margin of 6.79% and a return on equity of 16.10%.
Flexsteel Industries Price Performance
NASDAQ:FLXS traded down $2.93 during mid-day trading on Monday, reaching $70.86. The stock had a trading volume of 110,427 shares, compared to its average volume of 46,753. The stock has a market cap of $379.53 million, a P/E ratio of 12.84, a PEG ratio of 1.22 and a beta of 0.56. The business’s 50 day moving average is $71.06 and its 200 day moving average is $57.80. Flexsteel Industries has a fifty-two week low of $34.00 and a fifty-two week high of $79.70.
Flexsteel Industries Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, July 6th. Stockholders of record on Wednesday, June 24th were paid 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 was Wednesday, June 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.4%. Flexsteel Industries’s dividend payout ratio (DPR) is 18.12%.
Analysts Set New Price Targets
Get Our Latest Analysis on Flexsteel Industries
Institutional Trading of Flexsteel Industries
Institutional investors and hedge funds have recently modified their holdings of the company. IFP Advisors Inc lifted its stake in shares of Flexsteel Industries by 2,200.0% in the third quarter. IFP Advisors Inc now owns 621 shares of the company’s stock valued at $29,000 after buying an additional 594 shares during the period. BNP Paribas Financial Markets lifted 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 purchasing an additional 582 shares during the last quarter. Russell Investments Group Ltd. grew its position in Flexsteel Industries by 24.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,991 shares of the company’s stock worth $92,000 after acquiring an additional 395 shares during the last quarter. Jones Financial Companies Lllp increased its stake in shares of Flexsteel Industries by 5,214.0% in the first quarter. Jones Financial Companies Lllp now owns 2,657 shares of the company’s stock valued at $97,000 after buying an additional 2,607 shares in the last quarter. Finally, Deutsche Bank AG lifted its position in shares of Flexsteel Industries by 11.1% during the fourth quarter. Deutsche Bank AG now owns 3,024 shares of the company’s stock worth $119,000 after purchasing an additional 303 shares in the last quarter. 36.27% of the stock is currently owned by institutional investors and hedge funds.
About Flexsteel Industries
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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