30,248 Shares in Flexsteel Industries, Inc. $FLXS Bought by Walleye Capital LLC

Walleye Capital LLC purchased a new stake in Flexsteel Industries, Inc. (NASDAQ:FLXS) in the 1st quarter, HoldingsChannel reports. The fund purchased 30,248 shares of the company’s stock, valued at approximately $1,359,000.

Several other hedge funds also recently added to or reduced their stakes in FLXS. Deutsche Bank AG lifted its stake 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. Barclays PLC boosted its position in shares of Flexsteel Industries by 6.4% in the fourth quarter. Barclays PLC now owns 5,527 shares of the company’s stock worth $218,000 after buying an additional 333 shares during the period. Russell Investments Group Ltd. grew its stake in shares of Flexsteel Industries by 24.7% in the third quarter. Russell Investments Group Ltd. now owns 1,991 shares of the company’s stock valued at $92,000 after buying an additional 395 shares in the last quarter. First Trust Advisors LP grew its stake in shares of Flexsteel Industries by 4.1% in the second quarter. First Trust Advisors LP now owns 11,745 shares of the company’s stock valued at $423,000 after buying an additional 467 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its stake 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 valued at $45,000 after buying an additional 582 shares in the last quarter. 36.27% of the stock is owned by hedge funds and other institutional investors.

Flexsteel Industries Price Performance

Shares of FLXS stock opened at $75.19 on Friday. The company’s fifty day moving average price is $64.96 and its two-hundred day moving average price is $53.89. The firm has a market capitalization of $403.02 million, a P/E ratio of 13.62, a P/E/G ratio of 1.24 and a beta of 0.54. Flexsteel Industries, Inc. has a 12 month low of $32.65 and a 12 month high of $77.19.

Flexsteel Industries (NASDAQ:FLXS) last announced its earnings results on Monday, April 20th. The company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.39. Flexsteel Industries had a return on equity of 16.10% and a net margin of 6.79%.The company had revenue of $115.13 million during the quarter, compared to the consensus estimate of $118.32 million. On average, sell-side analysts anticipate that Flexsteel Industries, Inc. will post 4.78 EPS for the current year.

Flexsteel Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Wednesday, June 24th were issued 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 yield of 1.3%. The ex-dividend date of this dividend was Wednesday, June 24th. Flexsteel Industries’s dividend payout ratio (DPR) is currently 18.12%.

Analyst Ratings Changes

Several equities analysts recently commented on FLXS shares. Zacks Research lowered Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Flexsteel Industries in a research report on Friday, July 17th. Finally, Wall Street Zen downgraded shares of Flexsteel Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 25th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy”.

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.