Flexsteel Industries (NASDAQ:FLXS) Insider Michael Joseph Mcclaflin Sells 1,000 Shares of Stock

Flexsteel Industries, Inc. (NASDAQ:FLXS) insider Michael McClaflin sold 1,000 shares of the stock in a transaction that occurred on Thursday, November 12th. The shares were sold at an average price of $75.20, for a total transaction of $75,200.00. Following the transaction, the insider owned 33,026 shares in the company, valued at approximately $2,483,555.20. This represents a 2.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Michael Joseph Mcclaflin also recently made the following trade(s):

• On Wednesday, November 11th, Michael McClaflin sold 2,000 shares of Flexsteel Industries stock. The shares were sold at an average price of $75.56, for a total transaction of $151,120.00.
• On Monday, August 31st, Michael McClaflin sold 2,500 shares of Flexsteel Industries stock. The stock was sold at an average price of $79.57, for a total transaction of $198,925.00.
• On Friday, August 28th, Michael McClaflin sold 2,000 shares of Flexsteel Industries stock. The stock was sold at an average price of $82.94, for a total transaction of $165,880.00.
• On Thursday, August 20th, Michael McClaflin sold 500 shares of Flexsteel Industries stock. The stock was sold at an average price of $79.66, for a total value of $39,830.00.

Flexsteel Industries Price Performance

NASDAQ FLXS traded down $0.30 during midday trading on Friday, hitting $74.83. 47,598 shares of the company traded hands, compared to its average volume of 57,128. The company has a market cap of $311.44 million, a PE ratio of 12.19, a price-to-earnings-growth ratio of 1.16 and a beta of 0.61. The company’s 50-day simple moving average is $81.64 and its 200-day simple moving average is $65.14. Flexsteel Industries, Inc. has a 52 week low of $34.59 and a 52 week high of $90.64.

Flexsteel Industries (NASDAQ:FLXS) last announced its quarterly earnings results on Monday, October 26th. The company reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.01. The business had revenue of $113.97 million for the quarter, compared to the consensus estimate of $112.70 million. Flexsteel Industries had a return on equity of 15.92% and a net margin of 6.75%. On average, research analysts predict that Flexsteel Industries, Inc. will post 5.40 earnings per share for the current year.

Flexsteel Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 12th. Investors of record on Wednesday, September 30th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, September 30th. This represents a $1.00 dividend on an annualized basis and a yield of 1.3%. Flexsteel Industries’s dividend payout ratio (DPR) is presently 16.29%.

Hedge Funds Weigh In On Flexsteel Industries

Large investors have recently made changes to their positions in the business. Empowered Funds LLC boosted its position in shares of Flexsteel Industries by 32.6% in the 3rd quarter. Empowered Funds LLC now owns 43,787 shares of the company’s stock worth $3,707,000 after purchasing an additional 10,766 shares in the last quarter. First Trust Advisors LP purchased a new stake in shares of Flexsteel Industries during the third quarter worth about $1,790,000. Ieq Capital LLC purchased a new stake in shares of Flexsteel Industries during the third quarter worth about $266,000. Meeder Asset Management Inc. increased its holdings in shares of Flexsteel Industries by 158.0% during the third quarter. Meeder Asset Management Inc. now owns 10,071 shares of the company’s stock valued at $853,000 after acquiring an additional 6,167 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in shares of Flexsteel Industries by 156.6% during the third quarter. Russell Investments Group Ltd. now owns 20,010 shares of the company’s stock valued at $1,694,000 after acquiring an additional 12,211 shares in the last quarter. 36.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FLXS has been the topic of several analyst reports. Zacks Research upgraded Flexsteel Industries from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 1st. Weiss Ratings lowered shares of Flexsteel Industries from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, November 3rd. Freedom Broker raised their price target on shares of Flexsteel Industries from $80.00 to $86.00 and gave the company a “hold” rating in a report on Tuesday, October 27th. Finally, Freedom Capital cut shares of Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, Flexsteel Industries presently has a consensus rating of “Moderate Buy” and an average target price of $86.00.

Flexsteel Industries Company Profile

Flexsteel Industries designs, manufactures, imports and markets furniture for residential and commercial customers. Its products include sofas, recliners, sectionals and other upholstered seating, along with dining, bedroom and occasional furniture. The company sells products under the Flexsteel name and other brands through a network of furniture retailers and other distribution channels. Its offerings serve homes as well as commercial settings. Founded in 1893, Flexsteel is headquartered in Dubuque, Iowa, and serves customers primarily in the United States.