Flexsteel Industries, Inc. (NASDAQ:FLXS – Get Rating) declared a quarterly dividend on Tuesday, March 7th, Zacks reports. Shareholders of record on Wednesday, March 22nd will be paid a dividend of 0.15 per share on Monday, April 3rd. This represents a $0.60 annualized dividend and a yield of 2.83%. The ex-dividend date of this dividend is Tuesday, March 21st.
Flexsteel Industries has decreased its dividend by an average of 12.0% per year over the last three years. Flexsteel Industries has a payout ratio of 20.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Flexsteel Industries to earn $2.87 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 20.9%.
Flexsteel Industries Price Performance
Shares of FLXS opened at $21.22 on Friday. Flexsteel Industries has a 52-week low of $13.46 and a 52-week high of $23.81. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.92 and a current ratio of 3.34. The business’s 50 day moving average price is $19.46 and its two-hundred day moving average price is $16.79. The firm has a market cap of $109.92 million, a PE ratio of 15.72, a price-to-earnings-growth ratio of 1.71 and a beta of 0.62.
Insider Transactions at Flexsteel Industries
In related news, VP Timothy Patrick Newlin sold 2,000 shares of the stock in a transaction on Thursday, February 9th. The stock was sold at an average price of $20.00, for a total value of $40,000.00. Following the completion of the sale, the vice president now directly owns 27,154 shares of the company’s stock, valued at approximately $543,080. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 12.00% of the stock is owned by insiders.
Institutional Investors Weigh In On Flexsteel Industries
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Ancora Advisors LLC raised its position in Flexsteel Industries by 2.5% in the 1st quarter. Ancora Advisors LLC now owns 24,249 shares of the company’s stock valued at $845,000 after buying an additional 593 shares during the last quarter. Bank of New York Mellon Corp raised its position in Flexsteel Industries by 2.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 25,620 shares of the company’s stock valued at $403,000 after buying an additional 693 shares during the last quarter. UBS Group AG raised its position in Flexsteel Industries by 90.7% in the 3rd quarter. UBS Group AG now owns 2,090 shares of the company’s stock valued at $33,000 after buying an additional 994 shares during the last quarter. BNP Paribas Arbitrage SA raised its position in Flexsteel Industries by 109.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,257 shares of the company’s stock valued at $41,000 after buying an additional 1,180 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in Flexsteel Industries by 12.5% in the 3rd quarter. Price T Rowe Associates Inc. MD now owns 12,600 shares of the company’s stock valued at $198,000 after purchasing an additional 1,400 shares during the period. 60.24% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on FLXS shares. TheStreet raised Flexsteel Industries from a “d+” rating to a “c” rating in a research report on Monday, February 6th. StockNews.com started coverage on Flexsteel Industries in a research report on Saturday. They set a “buy” rating on the stock.
Flexsteel Industries Company Profile
Flexsteel Industries, Inc engages in the manufacture, import, and marketing of residential and commercial upholstered, and wood furniture products. Its products include sofas, loveseats, chairs, reclining and rocker-reclining chairs, swivel rockers, sofa beds, convertible bedding units, occasional tables, desks, dining tables and chairs, and bedroom furniture.
- Get a free copy of the StockNews.com research report on Flexsteel Industries (FLXS)
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