Flexsteel Industries, Inc. (NASDAQ:FLXS – Get Free Report) VP Stacy Kammes sold 2,750 shares of Flexsteel Industries stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $82.66, for a total value of $227,315.00. Following the completion of the sale, the vice president directly owned 33,306 shares of the company’s stock, valued at approximately $2,753,073.96. The trade was a 7.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.
Stacy Marie Kammes also recently made the following trade(s):
- On Friday, August 21st, Stacy Kammes sold 2,250 shares of Flexsteel Industries stock. The stock was sold at an average price of $81.00, for a total value of $182,250.00.
Flexsteel Industries Stock Performance
Shares of NASDAQ:FLXS traded up $2.04 during midday trading on Tuesday, reaching $84.20. 65,706 shares of the company’s stock traded hands, compared to its average volume of 84,575. Flexsteel Industries, Inc. has a one year low of $34.00 and a one year high of $88.49. The company has a market cap of $451.31 million, a price-to-earnings ratio of 13.56, a P/E/G ratio of 1.29 and a beta of 0.57. The stock has a 50 day moving average of $76.22 and a 200 day moving average of $61.49.
Flexsteel Industries Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, July 6th. Shareholders of record on Wednesday, June 24th were given a $0.25 dividend. 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 yield of 1.2%. Flexsteel Industries’s payout ratio is presently 16.10%.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on the company. Zacks Research downgraded Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 21st. Freedom Broker cut Flexsteel Industries from a “buy” rating to a “hold” rating and upped their price objective for the company from $72.00 to $80.00 in a research report on Tuesday, August 18th. Weiss Ratings restated a “buy (b-)” rating on shares of Flexsteel Industries in a research note on Friday, July 17th. Finally, Freedom Capital lowered shares of Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 18th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $80.00.
Get Our Latest Stock Analysis on FLXS
Hedge Funds Weigh In On Flexsteel Industries
A number of hedge funds have recently modified their holdings of FLXS. AQR Capital Management LLC purchased a new stake in Flexsteel Industries during the 1st quarter valued at approximately $221,000. Jones Financial Companies Lllp boosted its holdings in shares of Flexsteel Industries by 5,214.0% during the 1st quarter. Jones Financial Companies Lllp now owns 2,657 shares of the company’s stock valued at $97,000 after purchasing an additional 2,607 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of Flexsteel Industries by 7.0% during the 1st quarter. Empowered Funds LLC now owns 24,749 shares of the company’s stock valued at $904,000 after purchasing an additional 1,622 shares during the last quarter. First Trust Advisors LP grew its position in shares of Flexsteel Industries by 4.1% during the second quarter. First Trust Advisors LP now owns 11,745 shares of the company’s stock valued at $423,000 after purchasing an additional 467 shares in the last quarter. Finally, Qube Research & Technologies Ltd increased its holdings in shares of Flexsteel Industries by 7.0% in the second quarter. Qube Research & Technologies Ltd now owns 28,888 shares of the company’s stock worth $1,041,000 after purchasing an additional 1,881 shares during the last quarter. 36.27% of the stock is currently owned by institutional investors.
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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