Inspire Investing LLC Acquires Shares of 20,596 Flexsteel Industries, Inc. $FLXS

Inspire Investing LLC bought a new position in Flexsteel Industries, Inc. (NASDAQ:FLXS) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 20,596 shares of the company’s stock, valued at approximately $955,000. Inspire Investing LLC owned 0.39% of Flexsteel Industries as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Marion Wealth Management grew its holdings in shares of Flexsteel Industries by 4.0% in the third quarter. Marion Wealth Management now owns 33,936 shares of the company’s stock worth $1,573,000 after purchasing an additional 1,295 shares during the last quarter. Lazard Asset Management LLC grew its stake in Flexsteel Industries by 20.6% in the 2nd quarter. Lazard Asset Management LLC now owns 9,932 shares of the company’s stock worth $357,000 after acquiring an additional 1,697 shares in the last quarter. Bridgeway Capital Management LLC increased its position in shares of Flexsteel Industries by 3.8% during the second quarter. Bridgeway Capital Management LLC now owns 63,106 shares of the company’s stock worth $2,274,000 after acquiring an additional 2,298 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Flexsteel Industries by 8.9% during the second quarter. Ameriprise Financial Inc. now owns 7,972 shares of the company’s stock valued at $287,000 after acquiring an additional 653 shares in the last quarter. Finally, Qube Research & Technologies Ltd grew its stake in Flexsteel Industries by 7.0% in the second quarter. Qube Research & Technologies Ltd now owns 28,888 shares of the company’s stock worth $1,041,000 after purchasing an additional 1,881 shares in the last quarter. 36.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

FLXS has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Flexsteel Industries in a research report on Monday. Wall Street Zen lowered Flexsteel Industries from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 18th. Finally, Zacks Research raised shares of Flexsteel Industries from a “strong sell” rating to a “hold” rating in a research note on Monday, December 15th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold”.

Flexsteel Industries Trading Down 0.7%

Shares of NASDAQ FLXS opened at $40.81 on Friday. Flexsteel Industries, Inc. has a 12-month low of $29.38 and a 12-month high of $64.14. The stock’s fifty day simple moving average is $38.08 and its two-hundred day simple moving average is $39.68. The stock has a market capitalization of $217.93 million, a PE ratio of 9.93, a price-to-earnings-growth ratio of 0.97 and a beta of 0.55.

Flexsteel Industries (NASDAQ:FLXS) last issued its quarterly earnings data on Monday, October 20th. The company reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.53. Flexsteel Industries had a return on equity of 16.28% and a net margin of 5.22%.The firm had revenue of $110.44 million during the quarter, compared to analysts’ expectations of $105.38 million. During the same period in the prior year, the business posted $0.74 EPS. On average, equities analysts predict that Flexsteel Industries, Inc. will post 3.53 earnings per share for the current fiscal year.

Flexsteel Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Monday, December 29th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Monday, December 29th. Flexsteel Industries’s payout ratio is 19.46%.

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.