Flexsteel Industries (NASDAQ:FLXS) Insider Michael Joseph Mcclaflin Sells 2,600 Shares

Key Points

• Insider Michael Joseph Mcclaflin sold 2,600 shares of Flexsteel Industries at an average price of $46.75, reducing his stake by 7.19% to 33,576 shares.
• The company recently announced a quarterly dividend of $0.20 per share, with a payout date on October 6th and an expected annual yield of 1.6%.
• Flexsteel Industries exceeded earnings expectations for the last quarter with an EPS of $1.40, significantly beating the consensus estimate of $0.84.

Flexsteel Industries, Inc. (NASDAQ:FLXS - Get Free Report) insider Michael Joseph Mcclaflin sold 2,600 shares of the stock in a transaction on Friday, September 5th. The stock was sold at an average price of $46.75, for a total transaction of $121,550.00. Following the transaction, the insider owned 33,576 shares of the company's stock, valued at $1,569,678. The trade was a 7.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Flexsteel Industries Price Performance

NASDAQ FLXS traded up $0.27 on Wednesday, hitting $47.78. 33,352 shares of the stock were exchanged, compared to its average volume of 33,615. The company has a market capitalization of $251.80 million, a PE ratio of 13.50, a P/E/G ratio of 1.03 and a beta of 0.34. The business's fifty day moving average is $40.67 and its 200 day moving average is $36.92. Flexsteel Industries, Inc. has a 52 week low of $29.38 and a 52 week high of $65.87.

Flexsteel Industries (NASDAQ:FLXS - Get Free Report) last announced its quarterly earnings results on Monday, August 18th. The company reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.56. Flexsteel Industries had a return on equity of 14.74% and a net margin of 4.57%.The business had revenue of $114.61 million during the quarter, compared to the consensus estimate of $111.93 million. During the same quarter last year, the firm posted $0.75 EPS. Flexsteel Industries has set its Q1 2026 guidance at EPS. Analysts predict that Flexsteel Industries, Inc. will post 3.53 EPS for the current fiscal year.

Flexsteel Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 6th. Shareholders of record on Wednesday, September 24th will be given a dividend of $0.20 per share. The ex-dividend date is Wednesday, September 24th. This represents a $0.80 annualized dividend and a yield of 1.7%. Flexsteel Industries's dividend payout ratio (DPR) is presently 22.60%.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Flexsteel Industries

Hedge funds and other institutional investors have recently modified their holdings of the business. Deutsche Bank AG bought a new position in shares of Flexsteel Industries in the fourth quarter worth about $181,000. Nuveen Asset Management LLC raised its holdings in Flexsteel Industries by 274.7% during the 4th quarter. Nuveen Asset Management LLC now owns 23,202 shares of the company's stock worth $1,261,000 after purchasing an additional 17,010 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in Flexsteel Industries by 223.3% during the fourth quarter. Public Employees Retirement System of Ohio now owns 3,686 shares of the company's stock valued at $200,000 after acquiring an additional 2,546 shares during the last quarter. Bank of America Corp DE increased its holdings in Flexsteel Industries by 40.3% in the fourth quarter. Bank of America Corp DE now owns 4,843 shares of the company's stock worth $263,000 after purchasing an additional 1,392 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in Flexsteel Industries by 4,864.0% during the first quarter. GAMMA Investing LLC now owns 1,241 shares of the company's stock worth $45,000 after acquiring an additional 1,216 shares in the last quarter. Institutional investors own 36.27% of the company's stock.

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.