OxFORD Asset Management LLP raised its stake in shares of Flexsteel Industries, Inc. (NASDAQ:FLXS) by 28.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,465 shares of the company’s stock after acquiring an additional 2,539 shares during the quarter. OxFORD Asset Management LLP owned approximately 0.15% of Flexsteel Industries worth $620,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. WBI Investments Inc. purchased a new stake in shares of Flexsteel Industries during the 2nd quarter valued at $333,000. GSA Capital Partners LLP purchased a new position in Flexsteel Industries in the 2nd quarter worth $414,000. Rhumbline Advisers raised its stake in Flexsteel Industries by 11.6% in the 2nd quarter. Rhumbline Advisers now owns 8,659 shares of the company’s stock worth $469,000 after acquiring an additional 900 shares during the last quarter. Citigroup Inc. raised its stake in Flexsteel Industries by 101.8% in the 2nd quarter. Citigroup Inc. now owns 8,899 shares of the company’s stock worth $481,000 after acquiring an additional 4,490 shares during the last quarter. Finally, IndexIQ Advisors LLC purchased a new position in Flexsteel Industries in the 2nd quarter worth $508,000. 66.02% of the stock is currently owned by institutional investors and hedge funds.
Separately, BidaskClub upgraded Flexsteel Industries from a “hold” rating to a “buy” rating in a research note on Thursday, July 13th.
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Flexsteel Industries, Inc. (FLXS) opened at 49.42 on Friday. Flexsteel Industries, Inc. has a 1-year low of $39.98 and a 1-year high of $62.99. The firm’s 50 day moving average price is $48.59 and its 200-day moving average price is $51.57. The stock has a market cap of $386.61 million, a price-to-earnings ratio of 16.36 and a beta of 2.05.
Flexsteel Industries (NASDAQ:FLXS) last released its quarterly earnings results on Tuesday, August 15th. The company reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.11). Flexsteel Industries had a return on equity of 10.72% and a net margin of 5.29%. The company had revenue of $117.43 million for the quarter. On average, equities analysts anticipate that Flexsteel Industries, Inc. will post $3.24 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, October 6th. Shareholders of record on Friday, September 22nd were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.78%. This is an increase from Flexsteel Industries’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Thursday, September 21st. Flexsteel Industries’s payout ratio is 27.67%.
Flexsteel Industries Profile
Flexsteel Industries, Inc is a manufacturer, importer, marketer and distributor of residential and commercial upholstered and wood furniture products in the United States. The Company offers its products for contract under categories, such as hospitality, healthcare, senior living, government and commercial office.
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