Hillsdale Investment Management Inc. Decreases Position in Flexsteel Industries, Inc. $FLXS

Hillsdale Investment Management Inc. cut its position in Flexsteel Industries, Inc. (NASDAQ:FLXS) by 80.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 5,500 shares of the company’s stock after selling 22,120 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Flexsteel Industries were worth $217,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. IFP Advisors Inc raised its holdings in Flexsteel Industries by 2,200.0% in the third quarter. IFP Advisors Inc now owns 621 shares of the company’s stock worth $29,000 after buying an additional 594 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in Flexsteel Industries in the fourth quarter worth about $38,000. BNP Paribas Financial Markets raised its holdings in Flexsteel Industries by 149.6% in the third 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. Farther Finance Advisors LLC purchased a new position in Flexsteel Industries in the fourth quarter worth about $49,000. Finally, Copeland Capital Management LLC purchased a new position in Flexsteel Industries in the fourth quarter worth about $59,000. 36.27% of the stock is owned by hedge funds and other institutional investors.

Flexsteel Industries Stock Up 1.9%

Shares of FLXS stock opened at $59.19 on Wednesday. The company has a 50 day moving average price of $51.05 and a 200-day moving average price of $46.32. Flexsteel Industries, Inc. has a 52 week low of $29.39 and a 52 week high of $60.97. The firm has a market capitalization of $317.26 million, a PE ratio of 10.72, a P/E/G ratio of 1.01 and a beta of 0.58.

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

Flexsteel Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 9th. Investors of record on Monday, March 30th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 1.4%. The ex-dividend date was Monday, March 30th. Flexsteel Industries’s payout ratio is 14.49%.

Analyst Upgrades and Downgrades

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

Flexsteel Industries 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.