Bank of New York Mellon Corp lowered its holdings in shares of Flexsteel Industries, Inc. (NASDAQ:FLXS) by 21.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 56,169 shares of the company’s stock after selling 15,226 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.72% of Flexsteel Industries worth $2,848,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in FLXS. Schwab Charles Investment Management Inc. increased its holdings in Flexsteel Industries by 30.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 15,600 shares of the company’s stock worth $845,000 after acquiring an additional 3,600 shares in the last quarter. Vanguard Group Inc. increased its holdings in Flexsteel Industries by 6.3% in the 2nd quarter. Vanguard Group Inc. now owns 297,889 shares of the company’s stock worth $16,119,000 after acquiring an additional 17,537 shares in the last quarter. LSV Asset Management increased its holdings in Flexsteel Industries by 20.7% in the 2nd quarter. LSV Asset Management now owns 35,987 shares of the company’s stock worth $1,947,000 after acquiring an additional 6,168 shares in the last quarter. IndexIQ Advisors LLC increased its holdings in Flexsteel Industries by 83.1% in the 3rd quarter. IndexIQ Advisors LLC now owns 17,198 shares of the company’s stock worth $872,000 after acquiring an additional 7,805 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in Flexsteel Industries in the 2nd quarter worth approximately $414,000. 65.82% of the stock is owned by hedge funds and other institutional investors.
Shares of Flexsteel Industries, Inc. (NASDAQ:FLXS) opened at $47.77 on Friday. The stock has a market cap of $374.69, a P/E ratio of 15.02 and a beta of 2.04. Flexsteel Industries, Inc. has a fifty-two week low of $43.25 and a fifty-two week high of $57.79.
Flexsteel Industries (NASDAQ:FLXS) last released its earnings results on Thursday, October 19th. The company reported $0.64 earnings per share (EPS) for the quarter. Flexsteel Industries had a net margin of 5.29% and a return on equity of 10.60%.
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Friday, December 15th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 1.84%. The ex-dividend date was Thursday, December 14th. Flexsteel Industries’s dividend payout ratio is 27.67%.
In other Flexsteel Industries news, Director Jeffrey T. Bertsch sold 1,510 shares of the stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $50.00, for a total transaction of $75,500.00. Following the completion of the sale, the director now directly owns 195,659 shares of the company’s stock, valued at approximately $9,782,950. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 6.00% of the company’s stock.
Separately, BidaskClub lowered shares of Flexsteel Industries from a “hold” rating to a “sell” rating in a report on Friday.
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About Flexsteel Industries
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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