Polar Asset Management Partners Inc. increased its holdings in shares of Flexsteel Industries, Inc. (NASDAQ:FLXS) by 103.4% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 117,053 shares of the company’s stock after purchasing an additional 59,516 shares during the quarter. Polar Asset Management Partners Inc.’s holdings in Flexsteel Industries were worth $4,633,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also bought and sold shares of the company. Brandywine Global Investment Management LLC acquired a new stake in Flexsteel Industries during the 4th quarter worth approximately $141,000. MetLife Investment Advisors LLC acquired a new stake in Flexsteel Industries during the 4th quarter worth approximately $141,000. Jefferies Group LLC acquired a new stake in Flexsteel Industries during the 4th quarter worth approximately $211,000. Ladenburg Thalmann Financial Services Inc. increased its position in Flexsteel Industries by 28.0% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,397 shares of the company’s stock worth $253,000 after purchasing an additional 1,400 shares in the last quarter. Finally, Stone Ridge Asset Management LLC acquired a new stake in Flexsteel Industries during the 4th quarter worth approximately $529,000. 64.88% of the stock is owned by hedge funds and other institutional investors.
A number of research firms recently issued reports on FLXS. BidaskClub downgraded shares of Flexsteel Industries from a “hold” rating to a “sell” rating in a research report on Friday, May 11th. TheStreet cut Flexsteel Industries from a “b-” rating to a “c+” rating in a report on Tuesday, May 15th. Finally, ValuEngine cut Flexsteel Industries from a “hold” rating to a “sell” rating in a report on Friday, April 27th.
NASDAQ FLXS opened at $39.65 on Thursday. Flexsteel Industries, Inc. has a fifty-two week low of $34.74 and a fifty-two week high of $57.79. The company has a market capitalization of $310.66 million, a price-to-earnings ratio of 14.43 and a beta of 1.84.
Flexsteel Industries (NASDAQ:FLXS) last announced its quarterly earnings results on Thursday, April 26th. The company reported $0.72 earnings per share (EPS) for the quarter. Flexsteel Industries had a net margin of 4.89% and a return on equity of 9.19%. The firm had revenue of $126.86 million for the quarter.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 2nd. Investors of record on Friday, June 15th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date is Thursday, June 14th.
Flexsteel Industries Profile
Flexsteel Industries, Inc, together with its subsidiaries, manufactures, imports, and markets residential and contract upholstered and wood furniture products in the United States. It offers 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 for use in home, office, hotel, healthcare, and other commercial applications.
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