Punch & Associates Investment Management Inc. Lowers Stake in Flexsteel Industries, Inc. $FLXS

Key Points

• Punch & Associates Investment Management Inc. reduced its stake in Flexsteel Industries by 35.7% in the first quarter, now owning approximately $1.57 million worth of shares.
• Flexsteel Industries reported a quarterly earnings per share of $1.40, exceeding expectations, with a net margin of 4.57% and revenue of $114.61 million.
• The company recently increased its quarterly dividend from $0.17 to $0.20, marking an annual yield of 1.7%.

Punch & Associates Investment Management Inc. trimmed its position in Flexsteel Industries, Inc. (NASDAQ:FLXS - Free Report) by 35.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,863 shares of the company's stock after selling 23,822 shares during the period. Punch & Associates Investment Management Inc. owned 0.81% of Flexsteel Industries worth $1,565,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its position in shares of Flexsteel Industries by 2.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 10,219 shares of the company's stock valued at $556,000 after acquiring an additional 226 shares during the period. Marion Wealth Management grew its position in Flexsteel Industries by 1.2% during the 1st quarter. Marion Wealth Management now owns 32,048 shares of the company's stock worth $1,170,000 after purchasing an additional 388 shares during the period. Rhumbline Advisers grew its position in Flexsteel Industries by 7.8% during the 1st quarter. Rhumbline Advisers now owns 7,788 shares of the company's stock worth $284,000 after purchasing an additional 565 shares during the period. Wells Fargo & Company MN grew its position in Flexsteel Industries by 29.3% during the 4th quarter. Wells Fargo & Company MN now owns 2,739 shares of the company's stock worth $149,000 after purchasing an additional 620 shares during the period. Finally, US Bancorp DE acquired a new stake in Flexsteel Industries during the 1st quarter worth about $26,000. 36.27% of the stock is owned by institutional investors and hedge funds.

Flexsteel Industries Trading Down 0.3%

FLXS traded down $0.14 during midday trading on Friday, hitting $49.42. 4,624 shares of the company were exchanged, compared to its average volume of 24,634. The company's 50 day simple moving average is $39.92 and its 200 day simple moving average is $36.86. The firm has a market capitalization of $260.57 million, a price-to-earnings ratio of 13.96, a price-to-earnings-growth ratio of 1.07 and a beta of 0.34. Flexsteel Industries, Inc. has a 1-year low of $29.38 and a 1-year high of $65.87.

Flexsteel Industries (NASDAQ:FLXS - Get Free Report) last posted its earnings results on Monday, August 18th. The company reported $1.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.56. Flexsteel Industries had a net margin of 4.57% and a return on equity of 14.74%. The business had revenue of $114.61 million for the quarter, compared to analyst estimates of $111.93 million. During the same period in the prior year, the company posted $0.75 EPS. Flexsteel Industries has set its Q1 2026 guidance at EPS. On average, equities analysts anticipate that Flexsteel Industries, Inc. will post 3.53 EPS for the current year.

Flexsteel Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 6th. Stockholders of record on Wednesday, September 24th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Wednesday, September 24th. Flexsteel Industries's dividend payout ratio is presently 22.60%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Flexsteel Industries from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 30th.

About Flexsteel Industries

Flexsteel Industries, Inc, together with its subsidiaries, operates as a manufacturer, importer, and markets of upholstered furniture for residential and contract markets in the United States. It provides upholstered furniture, such as sofas, loveseats, chairs, reclining rocking chairs, swivel rockers, sofa beds, convertible bedding units, occasional tables, desks, dining tables and chairs, kitchen storage, bedroom furniture, and outdoor furniture.