North Star Investment Management Corp. Cuts Stock Position in Flexsteel Industries, Inc. $FLXS

North Star Investment Management Corp. lessened its holdings in Flexsteel Industries, Inc. (NASDAQ:FLXS) by 15.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 54,400 shares of the company’s stock after selling 10,000 shares during the period. North Star Investment Management Corp.’s holdings in Flexsteel Industries were worth $2,445,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of FLXS. IFP Advisors Inc lifted its position in Flexsteel Industries by 2,200.0% during 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 during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Flexsteel Industries by 149.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 971 shares of the company’s stock worth $45,000 after buying an additional 582 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of Flexsteel Industries during the 4th quarter valued at about $38,000. Farther Finance Advisors LLC purchased a new stake in shares of Flexsteel Industries during the 4th quarter valued at about $49,000. Finally, Copeland Capital Management LLC bought a new position in shares of Flexsteel Industries in the 4th quarter valued at about $59,000. Hedge funds and other institutional investors own 36.27% of the company’s stock.

Analyst Upgrades and Downgrades

FLXS has been the subject of several recent research reports. Wall Street Zen lowered Flexsteel Industries from a “strong-buy” rating to a “buy” rating in a research report on Saturday, April 25th. Weiss Ratings upgraded Flexsteel Industries from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, April 20th. Finally, Zacks Research raised Flexsteel Industries from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Strong Buy”.

Flexsteel Industries Price Performance

FLXS stock opened at $72.91 on Monday. Flexsteel Industries, Inc. has a twelve month low of $32.65 and a twelve month high of $74.90. The stock has a market capitalization of $390.80 million, a price-to-earnings ratio of 13.21, a price-to-earnings-growth ratio of 1.27 and a beta of 0.58. The firm’s fifty day simple moving average is $57.28 and its two-hundred day simple moving average is $49.62.

Flexsteel Industries (NASDAQ:FLXS) last announced its earnings results on Monday, April 20th. The company reported $1.14 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.39. The business had revenue of $115.13 million for the quarter, compared to the consensus estimate of $118.32 million. Flexsteel Industries had a net margin of 6.79% and a return on equity of 16.10%. As a group, equities research analysts expect that Flexsteel Industries, Inc. will post 4.78 EPS for the current year.

Flexsteel Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 6th. Investors of record on Wednesday, June 24th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Wednesday, June 24th. This is an increase from Flexsteel Industries’s previous quarterly dividend of $0.20. Flexsteel Industries’s dividend payout ratio (DPR) is presently 18.12%.

About Flexsteel Industries

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.