David Edward Crimmins Sells 1,262 Shares of Flexsteel Industries (NASDAQ:FLXS) Stock

Flexsteel Industries, Inc. (NASDAQ:FLXS) insider David Edward Crimmins sold 1,262 shares of the company’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $79.02, for a total value of $99,723.24. Following the transaction, the insider directly owned 34,688 shares of the company’s stock, valued at approximately $2,741,045.76. This represents a 3.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Friday, August 21st, David Edward Crimmins sold 4,494 shares of Flexsteel Industries stock. The stock was sold at an average price of $80.91, for a total value of $363,609.54.

Flexsteel Industries Stock Up 1.2%

FLXS stock opened at $81.53 on Wednesday. The business has a 50 day moving average price of $73.55 and a 200 day moving average price of $59.66. The stock has a market cap of $436.67 million, a price-to-earnings ratio of 13.13, a PEG ratio of 1.27 and a beta of 0.56. 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 announced its quarterly earnings results on Monday, August 17th. The company reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.24. The firm had revenue of $115.37 million during the quarter, compared to the consensus estimate of $109.51 million. Flexsteel Industries had a return on equity of 16.11% and a net margin of 7.21%. As a group, sell-side analysts anticipate that Flexsteel Industries, Inc. will post 5.29 EPS for the current year.

Flexsteel Industries Increases Dividend

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

Analysts Set New Price Targets

Several brokerages recently commented on FLXS. Freedom Capital lowered shares of Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 18th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Flexsteel Industries in a research report on Friday, July 17th. Freedom Broker downgraded Flexsteel Industries from a “buy” rating to a “hold” rating and boosted their target price for the company from $72.00 to $80.00 in a report on Tuesday, August 18th. Finally, Zacks Research cut Flexsteel Industries from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 21st. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $80.00.

Hedge Funds Weigh In On Flexsteel Industries

Several institutional investors and hedge funds have recently added to or reduced their stakes in FLXS. Legal & General Group Plc purchased a new stake in shares of Flexsteel Industries during the 2nd quarter worth $25,000. IFP Advisors Inc increased its holdings in shares of Flexsteel Industries by 2,200.0% in 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 in the last quarter. State of Alaska Department of Revenue purchased a new position in shares of Flexsteel Industries in the 4th quarter valued at about $38,000. BNP Paribas Financial Markets lifted its stake in shares of Flexsteel Industries by 149.6% in the third 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 acquired a new stake in shares of Flexsteel Industries in the fourth quarter valued at about $49,000. Institutional investors and hedge funds own 36.27% of the company’s stock.

Flexsteel Industries News Roundup

Here are the key news stories impacting Flexsteel Industries this week:

• Positive Sentiment: Quarterly earnings beat expectations. Flexsteel reported earnings of $1.33 per share versus the $1.09 analyst consensus, while revenue of $115.37 million exceeded estimates of $109.51 million. The results reinforce the company’s improving profitability and likely support investor confidence. Flexsteel second-quarter earnings article
• Positive Sentiment: Higher dividend enhances shareholder returns. Flexsteel raised its quarterly dividend to $0.25 from $0.20, equivalent to $1.00 annually and a yield of roughly 1.2%. The payout ratio remains modest at approximately 16%, suggesting room to maintain the distribution. Flexsteel dividend article
• Neutral Sentiment: Investor conference could provide a near-term catalyst. CEO Derek Schmidt and CFO Mike Ressler are scheduled to present and meet with investors at the Midwest IDEAS Investor Conference on August 26. Updates on demand, margins and guidance could influence the next move in FLXS. Flexsteel investor conference announcement
• Neutral Sentiment: Short-interest data appears unreliable. The report lists short interest at zero shares both before and after the reporting period while also showing an undefined percentage change. With zero shares sold short and a zero-day days-to-cover ratio, the data provides no meaningful indication of bearish positioning.
• Negative Sentiment: Several insiders sold shares. VP Stacy Marie Kammes sold 2,250 shares for approximately $182,250. Director David Edward Crimmins sold a combined 5,756 shares worth about $463,333, and Michael Joseph McClaflin sold 500 shares for $39,830. The sales reduced their individual holdings and could be interpreted as profit-taking after FLXS’s strong advance. Flexsteel insider selling report

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.