Flexsteel Industries (NASDAQ:FLXS) Insider David Edward Crimmins Sells 6,100 Shares of Stock

Flexsteel Industries, Inc. (NASDAQ:FLXS) insider David Crimmins sold 6,100 shares of the business’s stock in a transaction on Monday, November 9th. The shares were sold at an average price of $72.67, for a total value of $443,287.00. Following the completion of the transaction, the insider owned 32,078 shares of the company’s stock, valued at $2,331,108.26. This trade represents a 15.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

David Edward Crimmins also recently made the following trade(s):

• On Tuesday, November 10th, David Crimmins sold 3,850 shares of Flexsteel Industries stock. The shares were sold at an average price of $72.61, for a total transaction of $279,548.50.
• On Friday, August 21st, David Crimmins sold 4,494 shares of Flexsteel Industries stock. The stock was sold at an average price of $80.91, for a total transaction of $363,609.54.
• On Thursday, August 20th, David Crimmins sold 1,262 shares of Flexsteel Industries stock. The stock was sold at an average price of $79.02, for a total transaction of $99,723.24.

Flexsteel Industries Price Performance

NASDAQ:FLXS traded up $0.06 during trading hours on Thursday, reaching $74.96. 19,148 shares of the company were exchanged, compared to its average volume of 56,934. The firm has a market cap of $311.83 million, a price-to-earnings ratio of 12.17, a PEG ratio of 1.12 and a beta of 0.61. Flexsteel Industries, Inc. has a 52-week low of $34.59 and a 52-week high of $90.64. The stock has a 50 day simple moving average of $81.76 and a 200 day simple moving average of $64.96.

Flexsteel Industries (NASDAQ:FLXS) last announced its quarterly earnings results on Monday, October 26th. The company reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.01. The company had revenue of $113.97 million for the quarter, compared to analyst estimates of $112.70 million. Flexsteel Industries had a net margin of 6.75% and a return on equity of 15.92%. On average, analysts predict that Flexsteel Industries, Inc. will post 5.40 EPS for the current fiscal year.

Flexsteel Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, October 12th. Shareholders of record on Wednesday, September 30th were given a dividend of $0.25 per share. 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, September 30th. Flexsteel Industries’s payout ratio is 16.29%.

Analyst Upgrades and Downgrades

FLXS has been the topic of a number of research reports. Weiss Ratings downgraded Flexsteel Industries from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, November 3rd. Freedom Capital cut Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 18th. Freedom Broker increased their target price on shares of Flexsteel Industries from $80.00 to $86.00 and gave the stock a “hold” rating in a research report on Tuesday, October 27th. Finally, Zacks Research raised shares of Flexsteel Industries from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $86.00.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in shares of Flexsteel Industries in the second quarter worth about $20,589,000. Congress Asset Management Co. purchased a new stake in shares of Flexsteel Industries during the 3rd quarter valued at about $6,824,000. Punch & Associates Investment Management Inc. acquired a new position in Flexsteel Industries during the 2nd quarter worth approximately $6,817,000. Renaissance Technologies LLC lifted its position in Flexsteel Industries by 7.9% during the 1st quarter. Renaissance Technologies LLC now owns 142,200 shares of the company’s stock worth $6,390,000 after acquiring an additional 10,400 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Flexsteel Industries by 425.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 53,664 shares of the company’s stock worth $4,543,000 after acquiring an additional 43,448 shares during the period. 36.27% of the stock is owned by hedge funds and other institutional investors.

Flexsteel Industries Company Profile

Flexsteel Industries designs, manufactures, imports and markets furniture for residential and commercial customers. Its products include sofas, recliners, sectionals and other upholstered seating, along with dining, bedroom and occasional furniture. The company sells products under the Flexsteel name and other brands through a network of furniture retailers and other distribution channels. Its offerings serve homes as well as commercial settings. Founded in 1893, Flexsteel is headquartered in Dubuque, Iowa, and serves customers primarily in the United States.