Flexsteel Industries (NASDAQ:FLXS) Stock: Insider Michael Joseph Mcclaflin Sells 1,000 Shares

Key Points

• Flexsteel insider Michael McClaflin sold 1,000 shares for $75,200 at an average price of $75.20, reducing his direct stake by 2.94% to 33,026 shares. He also sold 2,000 shares the previous day.
• Flexsteel’s latest quarter slightly beat estimates, reporting EPS of $1.24 and revenue of $113.97 million. The company pays a $0.25 quarterly dividend, equivalent to a 1.3% yield.
• Analysts’ consensus rating is Moderate Buy, with a consensus price target of $86. Shares were recently trading at $74.83.

Flexsteel Industries, Inc. (NASDAQ:FLXS - Get Free Report) insider Michael McClaflin sold 1,000 shares of Flexsteel Industries stock in a transaction dated Thursday, November 12th. The stock was sold at an average price of $75.20, for a total transaction of $75,200.00. Following the transaction, the insider directly owned 33,026 shares of the company's stock, valued at approximately $2,483,555.20. This represents a 2.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Michael Joseph Mcclaflin also recently made the following trade(s):

• On Wednesday, November 11th, Michael McClaflin sold 2,000 shares of Flexsteel Industries stock. The shares were sold at an average price of $75.56, for a total transaction of $151,120.00.
• On Monday, August 31st, Michael McClaflin sold 2,500 shares of Flexsteel Industries stock. The stock was sold at an average price of $79.57, for a total transaction of $198,925.00.
• On Friday, August 28th, Michael McClaflin sold 2,000 shares of Flexsteel Industries stock. The stock was sold at an average price of $82.94, for a total transaction of $165,880.00.
• On Thursday, August 20th, Michael McClaflin sold 500 shares of Flexsteel Industries stock. The stock was sold at an average price of $79.66, for a total transaction of $39,830.00.

Flexsteel Industries Price Performance

Shares of NASDAQ:FLXS traded down $0.30 during trading hours on Friday, hitting $74.83. 47,598 shares of the company's stock traded hands, compared to its average volume of 57,128. Flexsteel Industries, Inc. has a 1 year low of $34.59 and a 1 year high of $90.64. The business has a fifty day moving average price of $81.64 and a 200-day moving average price of $65.14. The firm has a market capitalization of $311.44 million, a P/E ratio of 12.19, a price-to-earnings-growth ratio of 1.16 and a beta of 0.61.

Flexsteel Industries (NASDAQ:FLXS - Get Free Report) last released its earnings results on Monday, October 26th. The company reported $1.24 EPS for the quarter, beating 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 firm had revenue of $113.97 million for the quarter, compared to analysts' expectations of $112.70 million. As a group, equities analysts predict that Flexsteel Industries, Inc. will post 5.40 earnings per share for the current year.

Flexsteel Industries Announces Dividend

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

Institutional Trading of Flexsteel Industries

A number of large investors have recently modified their holdings of the company. BlackRock Inc. bought a new stake in shares of Flexsteel Industries in the second quarter valued at about $20,589,000. Renaissance Technologies LLC lifted its stake in Flexsteel Industries by 7.9% in the first quarter. Renaissance Technologies LLC now owns 142,200 shares of the company's stock worth $6,390,000 after acquiring an additional 10,400 shares during the period. Punch & Associates Investment Management Inc. lifted its stake in Flexsteel Industries by 0.6% in the first quarter. Punch & Associates Investment Management Inc. now owns 91,525 shares of the company's stock worth $4,113,000 after acquiring an additional 545 shares during the period. Congress Asset Management Co. bought a new position in Flexsteel Industries during the 3rd quarter worth about $6,824,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in Flexsteel Industries by 425.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 53,664 shares of the company's stock worth $4,543,000 after acquiring an additional 43,448 shares in the last quarter. Hedge funds and other institutional investors own 36.27% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on FLXS shares. Weiss Ratings downgraded Flexsteel Industries from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, November 3rd. Freedom Capital cut shares of Flexsteel Industries from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 18th. Freedom Broker raised their price target on shares of Flexsteel Industries from $80.00 to $86.00 and gave the stock a "hold" rating in a research note on Tuesday, October 27th. Finally, Zacks Research upgraded shares of Flexsteel Industries from a "hold" rating to a "strong-buy" rating in a report on Thursday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus 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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