Insider Selling: Flexsteel Industries (NASDAQ:FLXS) Insider Sells $363,609.54 in Stock

Flexsteel Industries, Inc. (NASDAQ:FLXS) insider David Edward Crimmins sold 4,494 shares of the firm’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $80.91, for a total transaction of $363,609.54. Following the transaction, the insider owned 30,194 shares in the company, valued at $2,442,996.54. This represents a 12.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

David Edward Crimmins also recently made the following trade(s):

• On Thursday, August 20th, David Edward Crimmins sold 1,262 shares of Flexsteel Industries stock. The stock was sold at an average price of $79.02, for a total value of $99,723.24.

Flexsteel Industries Stock Performance

Shares of NASDAQ FLXS traded down $0.79 during mid-day trading on Monday, reaching $80.60. 70,722 shares of the company traded hands, compared to its average volume of 49,704. The stock has a market cap of $432.02 million, a PE ratio of 12.98, a price-to-earnings-growth ratio of 1.28 and a beta of 0.56. The company’s fifty day moving average is $72.83 and its two-hundred day moving average is $59.13. Flexsteel Industries, Inc. has a fifty-two week low of $34.00 and a fifty-two week high of $88.49.

Flexsteel Industries (NASDAQ:FLXS) last posted its earnings results on Monday, August 17th. The company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.24. The firm had revenue of $115.37 million during the quarter, compared to analyst estimates of $109.51 million. Flexsteel Industries had a return on equity of 16.11% and a net margin of 7.21%. Research analysts forecast that Flexsteel Industries, Inc. will post 5.29 earnings per share for the current year.

Flexsteel Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 6th. Stockholders of record on Wednesday, June 24th were paid a $0.25 dividend. The ex-dividend date was Wednesday, June 24th. This is a positive change from Flexsteel Industries’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.2%. Flexsteel Industries’s dividend payout ratio is presently 16.10%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on FLXS shares. Weiss Ratings reiterated a “buy (b-)” rating on shares of Flexsteel Industries in a research note on Friday, July 17th. Freedom Capital lowered shares of Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 18th. Finally, Zacks Research cut shares of Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 21st. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold”.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FLXS. Legal & General Group Plc bought a new stake in shares of Flexsteel Industries in the second quarter valued at approximately $25,000. IFP Advisors Inc raised its stake in Flexsteel Industries by 2,200.0% during the 3rd 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. State of Alaska Department of Revenue bought a new stake in Flexsteel Industries in the 4th quarter valued at $38,000. BNP Paribas Financial Markets boosted its holdings in Flexsteel Industries by 149.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 971 shares of the company’s stock valued at $45,000 after purchasing an additional 582 shares during the period. Finally, Farther Finance Advisors LLC bought a new position in shares of Flexsteel Industries during the 4th quarter worth about $49,000. 36.27% of the stock is currently owned by institutional investors and hedge funds.

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.