Flexsteel Industries, Inc. (FLXS) To Go Ex-Dividend on March 21st

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.

Flexsteel Industries (NASDAQ:FLXS – Get Rating) last issued its quarterly earnings results on Monday, February 6th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.07. Flexsteel Industries had a return on equity of 6.34% and a net margin of 1.80%. The firm had revenue of $93.14 million for the quarter, compared to analyst estimates of $90.10 million. On average, equities analysts anticipate that Flexsteel Industries will post 1 EPS for the current year.

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

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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.