Punch & Associates Investment Management Inc. Purchases Shares of 91,525 Flexsteel Industries, Inc. $FLXS

Punch & Associates Investment Management Inc. acquired a new position in shares of Flexsteel Industries, Inc. (NASDAQ:FLXS) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 91,525 shares of the company’s stock, valued at approximately $6,817,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Legal & General Group Plc acquired a new stake in shares of Flexsteel Industries during the 2nd quarter worth approximately $25,000. IFP Advisors Inc grew its stake in Flexsteel Industries by 2,200.0% in the third quarter. IFP Advisors Inc now owns 621 shares of the company’s stock valued at $29,000 after purchasing an additional 594 shares in the last quarter. C M Bidwell & Associates Ltd. acquired a new position in Flexsteel Industries during the second quarter worth $67,000. BNP Paribas Financial Markets increased its stake in shares of Flexsteel Industries by 149.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 971 shares of the company’s stock worth $45,000 after purchasing an additional 582 shares during the last quarter. Finally, Farther Finance Advisors LLC acquired a new position in shares of Flexsteel Industries during the 4th quarter worth approximately $49,000. Institutional investors and hedge funds own 36.27% of the company’s stock.

Flexsteel Industries Trading Up 0.3%

Shares of FLXS opened at $81.77 on Thursday. The company has a market capitalization of $438.29 million, a price-to-earnings ratio of 13.17, a PEG ratio of 1.28 and a beta of 0.56. Flexsteel Industries, Inc. has a 12 month low of $34.00 and a 12 month high of $88.49. The stock has a 50 day moving average of $73.92 and a 200 day moving average of $59.91.

Flexsteel Industries (NASDAQ:FLXS) last released its earnings results on Monday, August 17th. The company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.24. Flexsteel Industries had a net margin of 7.21% and a return on equity of 16.11%. The firm had revenue of $115.37 million for the quarter, compared to analysts’ expectations of $109.51 million. As a group, equities 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 issued a dividend of $0.25 per share. This is a positive change from Flexsteel Industries’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, June 24th. This represents a $1.00 dividend on an annualized basis and a yield of 1.2%. Flexsteel Industries’s payout ratio is currently 16.10%.

Analyst Ratings Changes

FLXS has been the topic of several recent research reports. Freedom Capital cut Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 18th. Freedom Broker lowered shares of Flexsteel Industries from a “buy” rating to a “hold” rating and raised their price objective for the company from $72.00 to $80.00 in a report on Tuesday, August 18th. Zacks Research lowered shares of Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 21st. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Flexsteel Industries in a report on Friday, July 17th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $80.00.

Insider Buying and Selling at Flexsteel Industries

In related news, VP Stacy Marie Kammes sold 2,250 shares of the company’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $81.00, for a total value of $182,250.00. Following the completion of the transaction, the vice president directly owned 28,165 shares in the company, valued at approximately $2,281,365. The trade was a 7.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Joseph Mcclaflin sold 500 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $79.66, for a total value of $39,830.00. Following the completion of the sale, the insider directly owned 35,897 shares of the company’s stock, valued at approximately $2,859,555.02. This represents a 1.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 8,506 shares of company stock valued at $685,413 in the last three months. Company insiders own 11.20% 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.