Flexsteel Industries, Inc. (NASDAQ:FLXS) Director Michael Edwards bought 2,200 shares of the company’s stock in a transaction dated Thursday, February 7th. The stock was acquired at an average price of $22.36 per share, for a total transaction of $49,192.00. Following the acquisition, the director now directly owns 4,953 shares in the company, valued at $110,749.08. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Shares of NASDAQ FLXS opened at $22.44 on Monday. The company has a market capitalization of $177.06 million, a P/E ratio of 16.50 and a beta of 1.71. Flexsteel Industries, Inc. has a 52 week low of $21.47 and a 52 week high of $41.26.
Separately, ValuEngine cut Flexsteel Industries from a “hold” rating to a “sell” rating in a research note on Saturday, January 5th.
A number of institutional investors have recently made changes to their positions in FLXS. Trexquant Investment LP bought a new stake in Flexsteel Industries during the third quarter worth approximately $219,000. Rhumbline Advisers boosted its position in Flexsteel Industries by 44.6% during the fourth quarter. Rhumbline Advisers now owns 10,440 shares of the company’s stock worth $231,000 after purchasing an additional 3,218 shares during the period. JPMorgan Chase & Co. boosted its position in Flexsteel Industries by 70.0% during the third quarter. JPMorgan Chase & Co. now owns 9,345 shares of the company’s stock worth $278,000 after purchasing an additional 3,849 shares during the period. First Trust Advisors LP boosted its position in Flexsteel Industries by 19.1% during the fourth quarter. First Trust Advisors LP now owns 13,216 shares of the company’s stock worth $292,000 after purchasing an additional 2,121 shares during the period. Finally, James Investment Research Inc. boosted its position in Flexsteel Industries by 11.8% during the fourth quarter. James Investment Research Inc. now owns 16,700 shares of the company’s stock worth $369,000 after purchasing an additional 1,765 shares during the period. 63.03% of the stock is owned by hedge funds and other institutional investors.
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About Flexsteel Industries
Flexsteel Industries, Inc, together with its subsidiaries, manufactures, imports, and markets residential and contract upholstered and wood furniture products in the United States. It offers its products for use in home, hotel, healthcare, recreational vehicle, marine, and office applications. The company distributes its products through its sales force and independent representatives.
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