William Creekmuir Sells 1,000 Shares of Flexsteel Industries (NASDAQ:FLXS) Stock

Flexsteel Industries, Inc. (NASDAQ:FLXS) Director William Creekmuir sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The shares were sold at an average price of $81.03, for a total value of $81,030.00. Following the transaction, the director directly owned 19,226 shares in the company, valued at approximately $1,557,882.78. This represents a 4.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Flexsteel Industries Stock Performance

NASDAQ:FLXS opened at $79.46 on Friday. The firm has a market capitalization of $425.91 million, a PE ratio of 12.80, a PEG ratio of 1.28 and a beta of 0.57. The stock’s fifty day moving average is $77.56 and its 200 day moving average is $62.91. Flexsteel Industries, Inc. has a fifty-two week low of $34.00 and a fifty-two week high of $88.49.

Flexsteel Industries (NASDAQ:FLXS) last posted its quarterly earnings data on Monday, August 17th. The company reported $1.33 EPS for the quarter, topping the consensus estimate of $1.09 by $0.24. Flexsteel Industries had a net margin of 7.21% and a return on equity of 16.11%. The company had revenue of $115.37 million during the quarter, compared to analyst estimates of $109.51 million. Equities analysts forecast that Flexsteel Industries, Inc. will post 5.29 EPS for the current year.

Flexsteel Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 12th. Stockholders of record on Wednesday, September 30th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Wednesday, September 30th. Flexsteel Industries’s dividend payout ratio (DPR) is 16.10%.

Analysts Set New Price Targets

Several equities analysts recently commented on FLXS shares. Zacks Research downgraded shares of Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 21st. Freedom Broker lowered Flexsteel Industries from a “buy” rating to a “hold” rating and boosted their target price for the company from $72.00 to $80.00 in a research report on Tuesday, August 18th. Freedom Capital lowered Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 18th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Flexsteel Industries in a research note on Friday, July 17th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $80.00.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Engineers Gate Manager LP purchased a new position in Flexsteel Industries in the 2nd quarter worth about $259,000. IFP Advisors Inc boosted its position in Flexsteel Industries by 52.5% in the 2nd quarter. IFP Advisors Inc now owns 3,052 shares of the company’s stock valued at $227,000 after buying an additional 1,051 shares during the period. Empowered Funds LLC purchased a new stake in Flexsteel Industries in the 2nd quarter valued at about $2,459,000. Public Employees Retirement System of Ohio bought a new position in Flexsteel Industries in the 2nd quarter worth about $483,000. Finally, Punch & Associates Investment Management Inc. bought a new position in Flexsteel Industries in the 2nd quarter worth about $6,817,000. 36.27% of the stock is currently owned by institutional investors.

Flexsteel Industries Company Profile

Flexsteel Industries, Inc is a furniture manufacturer and distributor headquartered in Dubuque, Iowa. Founded in 1893, the company develops and sells residential furniture under the Flexsteel brand, with a focus on upholstered seating and furnishings for living rooms, family rooms, bedrooms, dining areas and home offices.

Its product portfolio includes sofas, sectionals, recliners, chairs, mattresses, beds, dressers, dining tables, dining chairs and occasional furniture. Flexsteel is known for its Blue Steel Spring seating technology, which is incorporated into many of its upholstered furniture products.