Flexsteel Industries, Inc. (NASDAQ:FLXS – Get Free Report) VP Stacy Marie Kammes sold 2,250 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $81.00, for a total value of $182,250.00. Following the sale, the vice president owned 28,165 shares in the company, valued at approximately $2,281,365. This trade represents a 7.40% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Flexsteel Industries Stock Performance
Flexsteel Industries stock opened at $81.53 on Wednesday. The stock has a fifty day moving average of $73.55 and a two-hundred day moving average of $59.66. The company has a market capitalization of $436.67 million, a price-to-earnings ratio of 13.13, a PEG ratio of 1.27 and a beta of 0.56. Flexsteel Industries, Inc. has a fifty-two week low of $34.00 and a fifty-two week high of $88.49.
Flexsteel Industries (NASDAQ:FLXS – Get Free Report) last issued its quarterly earnings data on Monday, August 17th. The company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.24. The business had revenue of $115.37 million for the quarter, compared to the consensus estimate of $109.51 million. Flexsteel Industries had a return on equity of 16.11% and a net margin of 7.21%. On average, analysts forecast that Flexsteel Industries, Inc. will post 5.29 EPS for the current fiscal year.
Flexsteel Industries Increases Dividend
Hedge Funds Weigh In On Flexsteel Industries
Large investors have recently added to or reduced their stakes in the business. Legal & General Group Plc purchased a new stake in Flexsteel Industries in the 2nd quarter valued at about $25,000. IFP Advisors Inc lifted its holdings in shares of Flexsteel Industries by 2,200.0% during the 3rd quarter. IFP Advisors Inc now owns 621 shares of the company’s stock worth $29,000 after acquiring an additional 594 shares during the period. State of Alaska Department of Revenue purchased a new position in shares of Flexsteel Industries during the 4th quarter worth about $38,000. BNP Paribas Financial Markets boosted its position in shares of Flexsteel Industries by 149.6% in the third quarter. BNP Paribas Financial Markets now owns 971 shares of the company’s stock worth $45,000 after acquiring an additional 582 shares during the last quarter. Finally, Farther Finance Advisors LLC purchased a new stake in Flexsteel Industries in the fourth quarter valued at approximately $49,000. 36.27% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of brokerages have recently commented on FLXS. Zacks Research downgraded shares of Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 21st. Freedom Capital downgraded shares of Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 18th. Weiss Ratings restated a “buy (b-)” rating on shares of Flexsteel Industries in a research report on Friday, July 17th. Finally, Freedom Broker cut shares of Flexsteel Industries from a “buy” rating to a “hold” rating and lifted their target price for the stock from $72.00 to $80.00 in a research note on Tuesday, August 18th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, Flexsteel Industries has a consensus rating of “Hold” and an average price target of $80.00.
Check Out Our Latest Analysis on Flexsteel Industries
More Flexsteel Industries News
Here are the key news stories impacting Flexsteel Industries this week:
- Positive Sentiment: Quarterly earnings beat expectations. Flexsteel reported earnings of $1.33 per share versus the $1.09 analyst consensus, while revenue of $115.37 million exceeded estimates of $109.51 million. The results reinforce the company’s improving profitability and likely support investor confidence. Flexsteel second-quarter earnings article
- Positive Sentiment: Higher dividend enhances shareholder returns. Flexsteel raised its quarterly dividend to $0.25 from $0.20, equivalent to $1.00 annually and a yield of roughly 1.2%. The payout ratio remains modest at approximately 16%, suggesting room to maintain the distribution. Flexsteel dividend article
- Neutral Sentiment: Investor conference could provide a near-term catalyst. CEO Derek Schmidt and CFO Mike Ressler are scheduled to present and meet with investors at the Midwest IDEAS Investor Conference on August 26. Updates on demand, margins and guidance could influence the next move in FLXS. Flexsteel investor conference announcement
- Neutral Sentiment: Short-interest data appears unreliable. The report lists short interest at zero shares both before and after the reporting period while also showing an undefined percentage change. With zero shares sold short and a zero-day days-to-cover ratio, the data provides no meaningful indication of bearish positioning.
- Negative Sentiment: Several insiders sold shares. VP Stacy Marie Kammes sold 2,250 shares for approximately $182,250. Director David Edward Crimmins sold a combined 5,756 shares worth about $463,333, and Michael Joseph McClaflin sold 500 shares for $39,830. The sales reduced their individual holdings and could be interpreted as profit-taking after FLXS’s strong advance. Flexsteel insider selling report
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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