Flexsteel Industries, Inc. $FLXS Holdings Increased by Renaissance Technologies LLC

Renaissance Technologies LLC lifted its stake in Flexsteel Industries, Inc. (NASDAQ:FLXS) by 7.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 142,200 shares of the company’s stock after acquiring an additional 10,400 shares during the period. Renaissance Technologies LLC owned 2.65% of Flexsteel Industries worth $6,390,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Mariner LLC bought a new stake in Flexsteel Industries during the fourth quarter worth approximately $46,099,000. Walleye Capital LLC bought a new position in Flexsteel Industries during the 1st quarter valued at $1,359,000. Focus Partners Wealth bought a new position in Flexsteel Industries during the 3rd quarter valued at $1,105,000. Punch & Associates Investment Management Inc. increased its position in shares of Flexsteel Industries by 23.8% during the 4th quarter. Punch & Associates Investment Management Inc. now owns 90,980 shares of the company’s stock valued at $3,593,000 after purchasing an additional 17,478 shares during the period. Finally, Illumine Investment Management LLC acquired a new position in shares of Flexsteel Industries during the 1st quarter valued at $774,000. 36.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

FLXS has been the subject of several research analyst reports. Wall Street Zen lowered Flexsteel Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 25th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Flexsteel Industries in a report on Friday, July 17th. Finally, Zacks Research cut shares of Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 21st. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy”.

Flexsteel Industries Stock Performance

Shares of NASDAQ:FLXS opened at $77.44 on Wednesday. The stock has a market capitalization of $415.08 million, a price-to-earnings ratio of 14.03, a PEG ratio of 1.28 and a beta of 0.56. Flexsteel Industries, Inc. has a 1-year low of $32.65 and a 1-year high of $78.64. The company has a 50 day moving average price of $68.30 and a 200 day moving average price of $55.88.

Flexsteel Industries Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Wednesday, June 24th. This represents a $1.00 annualized dividend and a dividend yield of 1.3%. This is a boost from Flexsteel Industries’s previous quarterly dividend of $0.20. Flexsteel Industries’s dividend payout ratio is 18.12%.

Flexsteel Industries 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.