Public Employees Retirement System of Ohio Buys Shares of 6,489 Flexsteel Industries, Inc. $FLXS

Public Employees Retirement System of Ohio purchased a new position in Flexsteel Industries, Inc. (NASDAQ:FLXS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 6,489 shares of the company’s stock, valued at approximately $483,000. Public Employees Retirement System of Ohio owned about 0.12% of Flexsteel Industries at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Punch & Associates Investment Management Inc. purchased a new stake in shares of Flexsteel Industries in the second quarter valued at about $6,817,000. Legal & General Group Plc acquired a new position in Flexsteel Industries in the 2nd quarter valued at about $25,000. Algert Global LLC purchased a new stake in shares of Flexsteel Industries in the 2nd quarter valued at approximately $1,247,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Flexsteel Industries in the 2nd quarter valued at approximately $246,000. Finally, Globeflex Capital L P acquired a new stake in shares of Flexsteel Industries during the 2nd quarter worth approximately $1,103,000. 36.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently commented on FLXS. Zacks Research cut Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 21st. Freedom Capital downgraded Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 18th. Weiss Ratings restated a “buy (b-)” rating on shares of Flexsteel Industries in a report on Friday, July 17th. Finally, Freedom Broker cut shares of Flexsteel Industries from a “buy” rating to a “hold” rating and upped their target price for the company from $72.00 to $80.00 in a research report on Tuesday, August 18th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $80.00.

Insiders Place Their Bets

In other news, VP Stacy Kammes sold 2,750 shares of the business’s stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $82.66, for a total transaction of $227,315.00. Following the completion of the sale, the vice president owned 33,306 shares in the company, valued at approximately $2,753,073.96. The trade was a 7.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William S. Creekmuir sold 3,100 shares of Flexsteel Industries stock in a transaction on Friday, September 4th. The stock was sold at an average price of $81.58, for a total transaction of $252,898.00. Following the sale, the director owned 23,176 shares in the company, valued at $1,890,698.08. This represents a 11.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 24,964 shares of company stock worth $2,029,438 over the last 90 days. Insiders own 11.20% of the company’s stock.

Flexsteel Industries Stock Down 0.5%

FLXS opened at $82.74 on Friday. Flexsteel Industries, Inc. has a 52 week low of $34.00 and a 52 week high of $88.49. The business has a fifty day simple moving average of $76.56 and a 200-day simple moving average of $61.91. The firm has a market cap of $443.49 million, a P/E ratio of 13.32, a P/E/G ratio of 1.31 and a beta of 0.57.

Flexsteel Industries (NASDAQ:FLXS) last issued its quarterly earnings results on Monday, August 17th. The company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.24. The business had revenue of $115.37 million for the quarter, compared to analysts’ expectations of $109.51 million. Flexsteel Industries had a net margin of 7.21% and a return on equity of 16.11%. Sell-side analysts expect that Flexsteel Industries, Inc. will post 5.29 earnings per share for the current year.

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.