Flexsteel Industries (NASDAQ:FLXS) Insider David Edward Crimmins Sells 4,494 Shares of Stock

Flexsteel Industries, Inc. (NASDAQ:FLXS) insider David Edward Crimmins sold 4,494 shares of the stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $80.91, for a total transaction of $363,609.54. Following the completion of the sale, the insider owned 30,194 shares in the company, valued at $2,442,996.54. This represents a 12.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

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

• On Thursday, August 20th, David Edward Crimmins sold 1,262 shares of Flexsteel Industries stock. The stock was sold at an average price of $79.02, for a total value of $99,723.24.

Flexsteel Industries Stock Performance

FLXS stock opened at $80.60 on Tuesday. Flexsteel Industries, Inc. has a 1 year low of $34.00 and a 1 year high of $88.49. The stock’s 50 day moving average price is $73.17 and its 200 day moving average price is $59.40. The firm has a market cap of $432.02 million, a P/E ratio of 12.98, a PEG ratio of 1.28 and a beta of 0.56.

Flexsteel Industries (NASDAQ:FLXS) last announced its earnings results on Monday, August 17th. The company reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.24. Flexsteel Industries had a return on equity of 16.11% and a net margin of 7.21%.The firm had revenue of $115.37 million for the quarter, compared to analysts’ expectations of $109.51 million. On average, research analysts predict that Flexsteel Industries, Inc. will post 5.29 earnings per share for the current year.

Flexsteel Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Investors 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 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 1.2%. Flexsteel Industries’s dividend payout ratio is 16.10%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Flexsteel Industries in a research note on Friday, July 17th. Freedom Capital downgraded shares of Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 18th. Finally, Zacks Research lowered shares of Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 21st. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold”.

Institutional Trading of Flexsteel Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC purchased a new position in shares of Flexsteel Industries during the 1st quarter worth about $221,000. Jones Financial Companies Lllp increased its position in Flexsteel Industries by 5,214.0% during the first quarter. Jones Financial Companies Lllp now owns 2,657 shares of the company’s stock worth $97,000 after purchasing an additional 2,607 shares during the last quarter. Empowered Funds LLC raised its stake in Flexsteel Industries by 7.0% during the first quarter. Empowered Funds LLC now owns 24,749 shares of the company’s stock worth $904,000 after purchasing an additional 1,622 shares during the period. First Trust Advisors LP boosted its holdings in shares of Flexsteel Industries by 4.1% in the 2nd 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 during the last quarter. Finally, Qube Research & Technologies Ltd grew its stake in shares of Flexsteel Industries by 7.0% during the 2nd quarter. Qube Research & Technologies Ltd now owns 28,888 shares of the company’s stock valued at $1,041,000 after buying an additional 1,881 shares during the period. Hedge funds and other institutional investors own 36.27% of the company’s stock.

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.