Flexsteel Industries (NASDAQ:FLXS) Director William Creekmuir Sells 3,100 Shares

Flexsteel Industries, Inc. (NASDAQ:FLXS) Director William Creekmuir sold 3,100 shares of the business’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $1,890,698.08. This represents a 11.80% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Flexsteel Industries Stock Up 2.5%

Flexsteel Industries stock opened at $84.20 on Wednesday. The firm has a fifty day moving average of $76.22 and a 200-day moving average of $61.49. Flexsteel Industries, Inc. has a 52-week low of $34.00 and a 52-week high of $88.49. The firm has a market capitalization of $451.31 million, a P/E ratio of 13.56, a PEG ratio of 1.29 and a beta of 0.57.

Flexsteel Industries (NASDAQ:FLXS) last posted its earnings results on Monday, August 17th. The company reported $1.33 earnings per share for the quarter, beating 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 business had revenue of $115.37 million for the quarter, compared to analyst estimates of $109.51 million. On average, research analysts expect that Flexsteel Industries, Inc. will post 5.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC bought a new stake in shares of Flexsteel Industries in the 1st quarter worth about $221,000. Jones Financial Companies Lllp lifted its position in shares of 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 grew its stake in Flexsteel Industries by 7.0% in 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 in the last quarter. First Trust Advisors LP grew its stake in Flexsteel Industries by 4.1% in the second quarter. First Trust Advisors LP now owns 11,745 shares of the company’s stock worth $423,000 after purchasing an additional 467 shares in the last quarter. Finally, Qube Research & Technologies Ltd increased its holdings in Flexsteel Industries by 7.0% in the second 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 last quarter. 36.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

FLXS has been the topic of a number of recent research reports. Freedom Broker cut shares of Flexsteel Industries from a “buy” rating to a “hold” rating and boosted their target price for the stock 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. Zacks Research cut Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 21st. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Flexsteel Industries in a report on Friday, July 17th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $80.00.

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.