Flexsteel Industries, Inc. (NASDAQ:FLXS – Get Free Report) insider Michael Joseph Mcclaflin sold 2,000 shares of Flexsteel Industries stock in a transaction on Friday, August 28th. The shares were sold at an average price of $82.94, for a total value of $165,880.00. Following the transaction, the insider owned 41,026 shares in the company, valued at $3,402,696.44. This trade represents a 4.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.
Michael Joseph Mcclaflin also recently made the following trade(s):
- On Monday, August 31st, Michael Joseph Mcclaflin sold 2,500 shares of Flexsteel Industries stock. The stock was sold at an average price of $79.57, for a total transaction of $198,925.00.
- On Thursday, August 20th, Michael Joseph Mcclaflin sold 500 shares of Flexsteel Industries stock. The stock was sold at an average price of $79.66, for a total transaction of $39,830.00.
Flexsteel Industries Stock Performance
FLXS opened at $79.22 on Wednesday. The stock has a market cap of $424.62 million, a price-to-earnings ratio of 12.76, a price-to-earnings-growth ratio of 1.25 and a beta of 0.57. The firm’s fifty day moving average is $75.15 and its 200 day moving average is $60.59. Flexsteel Industries, Inc. has a fifty-two week low of $34.00 and a fifty-two week high of $88.49.
Flexsteel Industries Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Wednesday, June 24th were given 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 dividend yield of 1.3%. The ex-dividend date was Wednesday, June 24th. Flexsteel Industries’s dividend payout ratio (DPR) is presently 16.10%.
Institutional Trading of Flexsteel Industries
A number of institutional investors have recently modified their holdings of the company. Mariner LLC acquired a new stake in Flexsteel Industries in the fourth quarter valued at approximately $46,099,000. BlackRock Inc. purchased a new stake in Flexsteel Industries in the second quarter valued at approximately $20,589,000. Vanguard Group Inc. lifted its position in Flexsteel Industries by 0.3% during the third quarter. Vanguard Group Inc. now owns 225,855 shares of the company’s stock valued at $10,468,000 after purchasing an additional 708 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Flexsteel Industries by 7.9% in the first quarter. Renaissance Technologies LLC now owns 142,200 shares of the company’s stock worth $6,390,000 after buying an additional 10,400 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. boosted its position in Flexsteel Industries by 0.6% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 91,525 shares of the company’s stock worth $4,113,000 after purchasing an additional 545 shares in the last quarter. 36.27% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several brokerages have recently issued reports on FLXS. Freedom Capital cut shares of Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 18th. Freedom Broker lowered Flexsteel Industries from a “buy” rating to a “hold” rating and raised their price target for the stock from $72.00 to $80.00 in a research note on Tuesday, August 18th. Zacks Research cut Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 21st. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Flexsteel Industries in a research report on Friday, July 17th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Flexsteel Industries currently has a consensus rating of “Hold” and an average target price of $80.00.
View Our Latest Stock Analysis on FLXS
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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