Flexsteel Industries (NASDAQ:FLXS) Insider Sells $279,548.50 in Stock

Key Points

• Insider David Crimmins sold 3,850 Flexsteel shares for $279,548.50 at an average price of $72.61, reducing his stake by 12% to 28,228 shares.
• Flexsteel reported quarterly EPS of $1.24, slightly above the $1.23 analyst consensus, and revenue of $113.97 million versus an estimated $112.70 million.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $86; the company’s quarterly dividend was $0.25 per share.

Flexsteel Industries, Inc. (NASDAQ:FLXS - Get Free Report) insider David Crimmins sold 3,850 shares of the business's stock in a transaction on Tuesday, November 10th. The stock was sold at an average price of $72.61, for a total value of $279,548.50. Following the transaction, the insider directly owned 28,228 shares in the company, valued at $2,049,635.08. This trade represents a 12.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Monday, November 9th, David Crimmins sold 6,100 shares of Flexsteel Industries stock. The stock was sold at an average price of $72.67, for a total value of $443,287.00.
• On Friday, August 21st, David Crimmins sold 4,494 shares of Flexsteel Industries stock. The shares were sold at an average price of $80.91, for a total value of $363,609.54.
• On Thursday, August 20th, David Crimmins sold 1,262 shares of Flexsteel Industries stock. The stock was sold at an average price of $79.02, for a total transaction of $99,723.24.

Flexsteel Industries Stock Up 0.1%

FLXS stock traded up $0.06 during midday trading on Thursday, hitting $74.96. The company's stock had a trading volume of 19,148 shares, compared to its average volume of 56,934. Flexsteel Industries, Inc. has a 52-week low of $34.59 and a 52-week high of $90.64. The firm has a market capitalization of $311.83 million, a P/E ratio of 12.21, a PEG ratio of 1.12 and a beta of 0.61. The firm has a 50-day simple moving average of $81.76 and a 200-day simple moving average of $64.96.

Flexsteel Industries (NASDAQ:FLXS - Get Free Report) last announced its quarterly earnings data on Monday, October 26th. The company reported $1.24 EPS for the quarter, topping analysts' consensus estimates of $1.23 by $0.01. Flexsteel Industries had a return on equity of 15.92% and a net margin of 6.75%. The business had revenue of $113.97 million during the quarter, compared to the consensus estimate of $112.70 million. On average, sell-side analysts expect that Flexsteel Industries, Inc. will post 5.40 earnings per share for the current fiscal year.

Flexsteel Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 12th. Investors of record on Wednesday, September 30th were paid a dividend of $0.25 per share. The ex-dividend date was Wednesday, September 30th. This represents a $1.00 annualized dividend and a yield of 1.3%. Flexsteel Industries's payout ratio is presently 16.29%.

Institutional Trading of Flexsteel Industries

Institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. purchased a new position in Flexsteel Industries during the 2nd quarter worth approximately $20,589,000. Congress Asset Management Co. acquired a new position in Flexsteel Industries during the third quarter worth approximately $6,824,000. Punch & Associates Investment Management Inc. acquired a new position in Flexsteel Industries during the second quarter worth approximately $6,817,000. Renaissance Technologies LLC increased its position in Flexsteel Industries by 7.9% during the first quarter. Renaissance Technologies LLC now owns 142,200 shares of the company's stock worth $6,390,000 after buying an additional 10,400 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in Flexsteel Industries by 425.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 53,664 shares of the company's stock valued at $4,543,000 after buying an additional 43,448 shares during the last quarter. 36.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on FLXS. Weiss Ratings lowered shares of Flexsteel Industries from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, November 3rd. Zacks Research raised shares of Flexsteel Industries from a "hold" rating to a "strong-buy" rating in a report on Thursday, October 1st. Freedom Capital downgraded shares of Flexsteel Industries from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, August 18th. Finally, Freedom Broker upped their target price on shares of Flexsteel Industries from $80.00 to $86.00 and gave the company a "hold" rating in a report on Tuesday, October 27th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $86.00.

About Flexsteel Industries

Flexsteel Industries designs, manufactures, imports and markets furniture for residential and commercial customers. Its products include sofas, recliners, sectionals and other upholstered seating, along with dining, bedroom and occasional furniture. The company sells products under the Flexsteel name and other brands through a network of furniture retailers and other distribution channels. Its offerings serve homes as well as commercial settings. Founded in 1893, Flexsteel is headquartered in Dubuque, Iowa, and serves customers primarily in the United States.

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