Key Points
- Flexsteel insider Michael McClaflin sold 2,000 shares for $151,120 at an average price of $75.56, reducing his stake by 5.55%; he still held 34,026 shares immediately after the transaction.
- The company beat quarterly estimates, reporting earnings of $1.24 per share and revenue of $113.97 million. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $86.
- FLXS traded at $74.83, below its 50-day average of $81.53; the stock’s 12-month range was $34.59 to $90.64.
Flexsteel Industries, Inc. (NASDAQ:FLXS - Get Free Report) insider Michael McClaflin sold 2,000 shares of the firm's stock in a transaction on Wednesday, November 11th. The stock was sold at an average price of $75.56, for a total value of $151,120.00. Following the transaction, the insider directly owned 34,026 shares of the company's stock, valued at $2,571,004.56. The trade was a 5.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.
Michael Joseph Mcclaflin also recently made the following trade(s):
- On Thursday, November 12th, Michael McClaflin sold 1,000 shares of Flexsteel Industries stock. The stock was sold at an average price of $75.20, for a total value of $75,200.00.
- On Monday, August 31st, Michael McClaflin sold 2,500 shares of Flexsteel Industries stock. The shares were 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 shares were 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
FLXS traded down $0.30 during trading on Friday, hitting $74.83. The company's stock had a trading volume of 47,598 shares, compared to its average volume of 73,389. The firm's 50 day moving average price is $81.53 and its 200-day moving average price is $65.32. The stock has a market cap of $311.29 million, a PE ratio of 12.19, a PEG ratio of 1.16 and a beta of 0.61. Flexsteel Industries, Inc. has a twelve month low of $34.59 and a twelve month high of $90.64.
Flexsteel Industries (NASDAQ:FLXS - Get Free Report) last issued its quarterly earnings results on Monday, October 26th. The company reported $1.24 earnings per share 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 company had revenue of $113.97 million for the quarter, compared to analyst estimates of $112.70 million. Equities analysts anticipate 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. Investors of record on Wednesday, September 30th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.3%. The ex-dividend date was Wednesday, September 30th. Flexsteel Industries's dividend payout ratio is presently 16.29%.
Analysts Set New Price Targets
A number of analysts have issued reports on FLXS shares. Freedom Capital lowered Flexsteel Industries from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, August 18th. Freedom Broker upped their price objective on shares of Flexsteel Industries from $80.00 to $86.00 and gave the company a "hold" rating in a research note on Tuesday, October 27th. Weiss Ratings downgraded shares of Flexsteel Industries from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, November 3rd. 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 issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $86.00.
Check Out Our Latest Stock Analysis on FLXS
Key Flexsteel Industries News
Here's some of the latest news about FLXS:
- Neutral Sentiment: Despite the sales, both insiders retained sizable holdings: David Crimmins owned 28,228 shares after his reported transactions, and Michael McClaflin held 33,026 shares after his latest sale.
- Negative Sentiment: Crimmins sold a combined 9,950 shares on November 9–10 for about $723,000, reducing his position by 12% in the latest reported transaction. McClaflin sold 3,000 shares on November 11–12 for about $226,000. The repeated insider selling could weigh on investor sentiment. Crimmins sale report McClaflin SEC filing
Hedge Funds Weigh In On Flexsteel Industries
A number of hedge funds have recently made changes to their positions in FLXS. BlackRock Inc. purchased a new stake in Flexsteel Industries during the second quarter valued at about $20,589,000. Punch & Associates Investment Management Inc. acquired a new stake in Flexsteel Industries during the second quarter worth about $6,817,000. Congress Asset Management Co. acquired a new stake in Flexsteel Industries during the third quarter worth about $6,824,000. Bank of New York Mellon Corp purchased a new position in shares of Flexsteel Industries in the 2nd quarter worth about $3,543,000. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Flexsteel Industries by 425.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 53,664 shares of the company's stock worth $4,543,000 after purchasing an additional 43,448 shares during the period. Institutional investors and hedge funds own 36.27% of the company's stock.
About Flexsteel Industries
(
Get Free Report)
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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