Nations Financial Group Inc. IA ADV Has $759,000 Stake in Flexsteel Industries, Inc. (NASDAQ:FLXS)

Nations Financial Group Inc. IA ADV trimmed its holdings in Flexsteel Industries, Inc. (NASDAQ:FLXS) by 36.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,141 shares of the company’s stock after selling 10,000 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in Flexsteel Industries were worth $759,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in FLXS. Rhumbline Advisers raised its stake in shares of Flexsteel Industries by 1,647.7% in the second quarter. Rhumbline Advisers now owns 5,313 shares of the company’s stock worth $165,000 after purchasing an additional 5,009 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new position in Flexsteel Industries during the 1st quarter worth $195,000. Marshall Wace LLP purchased a new position in Flexsteel Industries during the second quarter worth about $217,000. Ritholtz Wealth Management bought a new stake in Flexsteel Industries in the 2nd quarter worth about $219,000. Finally, Heron Bay Capital Management purchased a new stake in Flexsteel Industries in the 1st quarter valued at about $298,000. 36.27% of the stock is currently owned by institutional investors and hedge funds.

Flexsteel Industries Stock Down 4.2 %

FLXS opened at $57.70 on Wednesday. The company’s 50-day moving average price is $47.06 and its two-hundred day moving average price is $39.52. The company has a quick ratio of 1.04, a current ratio of 2.84 and a debt-to-equity ratio of 0.02. Flexsteel Industries, Inc. has a twelve month low of $16.18 and a twelve month high of $60.69. The stock has a market cap of $300.62 million, a price-to-earnings ratio of 23.81, a PEG ratio of 1.54 and a beta of 0.42.

Flexsteel Industries (NASDAQ:FLXS) last released its earnings results on Monday, October 21st. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.12. The business had revenue of $104.01 million during the quarter, compared to the consensus estimate of $101.60 million. Flexsteel Industries had a return on equity of 10.09% and a net margin of 3.30%. During the same period last year, the business posted $0.14 earnings per share. As a group, equities analysts expect that Flexsteel Industries, Inc. will post 3.25 earnings per share for the current year.

Flexsteel Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Wednesday, September 25th were paid a $0.17 dividend. This is an increase from Flexsteel Industries’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Wednesday, September 25th. This represents a $0.68 annualized dividend and a dividend yield of 1.18%. Flexsteel Industries’s dividend payout ratio (DPR) is presently 26.88%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Flexsteel Industries from a “hold” rating to a “buy” rating in a report on Wednesday, August 21st.

About Flexsteel Industries

Flexsteel Industries, Inc, together with its subsidiaries, operates as a manufacturer, importer, and markets of upholstered furniture for residential and contract markets in the United States. It provides upholstered furniture, such as sofas, loveseats, chairs, reclining rocking chairs, swivel rockers, sofa beds, convertible bedding units, occasional tables, desks, dining tables and chairs, kitchen storage, bedroom furniture, and outdoor furniture.