Flexsteel Industries, Inc. $FLXS Stake Increased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lifted its stake in shares of Flexsteel Industries, Inc. (NASDAQ:FLXS) by 97.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 29,207 shares of the company’s stock after purchasing an additional 14,417 shares during the period. Janney Montgomery Scott LLC’s holdings in Flexsteel Industries were worth $1,313,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in FLXS. Ritholtz Wealth Management lifted its position in shares of Flexsteel Industries by 50.6% in the 1st quarter. Ritholtz Wealth Management now owns 16,110 shares of the company’s stock worth $724,000 after buying an additional 5,411 shares during the last quarter. Quadrature Capital Ltd boosted its stake in Flexsteel Industries by 88.2% during the 4th quarter. Quadrature Capital Ltd now owns 8,701 shares of the company’s stock valued at $344,000 after purchasing an additional 4,077 shares during the period. Lazard Asset Management LLC grew its holdings in Flexsteel Industries by 140.9% in the 4th quarter. Lazard Asset Management LLC now owns 20,628 shares of the company’s stock worth $815,000 after buying an additional 12,064 shares in the last quarter. Punch & Associates Investment Management Inc. boosted its position in Flexsteel Industries by 23.8% during the 4th quarter. Punch & Associates Investment Management Inc. now owns 90,980 shares of the company’s stock worth $3,593,000 after acquiring an additional 17,478 shares during the period. Finally, Panagora Asset Management Inc. lifted its holdings in Flexsteel Industries by 7.5% in the fourth quarter. Panagora Asset Management Inc. now owns 24,006 shares of the company’s stock worth $948,000 after purchasing an additional 1,667 shares during the period. 36.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Wall Street Zen lowered Flexsteel Industries from a “strong-buy” rating to a “buy” rating in a report on Saturday, April 25th. Weiss Ratings upgraded shares of Flexsteel Industries from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, April 20th. Finally, Zacks Research raised shares of Flexsteel Industries from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Strong Buy”.

Flexsteel Industries Stock Performance

Shares of NASDAQ:FLXS traded down $0.49 during midday trading on Friday, reaching $71.30. The company had a trading volume of 29,476 shares, compared to its average volume of 53,364. Flexsteel Industries, Inc. has a 1-year low of $32.65 and a 1-year high of $77.19. The firm has a market cap of $382.17 million, a price-to-earnings ratio of 12.92, a price-to-earnings-growth ratio of 1.18 and a beta of 0.54. The company has a fifty day simple moving average of $61.74 and a two-hundred day simple moving average of $51.72.

Flexsteel Industries (NASDAQ:FLXS) last posted its quarterly earnings data on Monday, April 20th. The company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.39. Flexsteel Industries had a return on equity of 16.10% and a net margin of 6.79%.The firm had revenue of $115.13 million for the quarter, compared to the consensus estimate of $118.32 million. Analysts expect that Flexsteel Industries, Inc. will post 4.78 EPS for the current year.

Flexsteel Industries Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 6th. Investors of record on Wednesday, June 24th were given a $0.25 dividend. This is a boost from Flexsteel Industries’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, June 24th. This represents a $1.00 annualized dividend and a dividend yield of 1.4%. Flexsteel Industries’s payout ratio is currently 18.12%.

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.