Marshall Wace LLP Invests $217,000 in Flexsteel Industries, Inc. (NASDAQ:FLXS)

Marshall Wace LLP acquired a new position in shares of Flexsteel Industries, Inc. (NASDAQ:FLXS) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 6,986 shares of the company’s stock, valued at approximately $217,000. Marshall Wace LLP owned approximately 0.14% of Flexsteel Industries at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. American Century Companies Inc. increased its holdings in shares of Flexsteel Industries by 185.1% in the second quarter. American Century Companies Inc. now owns 46,521 shares of the company’s stock valued at $1,445,000 after purchasing an additional 30,203 shares in the last quarter. Acadian Asset Management LLC increased its holdings in shares of Flexsteel Industries by 8.3% in the second quarter. Acadian Asset Management LLC now owns 12,694 shares of the company’s stock valued at $393,000 after purchasing an additional 968 shares in the last quarter. Rhumbline Advisers increased its holdings 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 valued at $165,000 after purchasing an additional 5,009 shares in the last quarter. Ritholtz Wealth Management acquired a new stake in shares of Flexsteel Industries in the second quarter valued at approximately $219,000. Finally, Nations Financial Group Inc. IA ADV acquired a new stake in shares of Flexsteel Industries in the second quarter valued at approximately $843,000. Institutional investors and hedge funds own 36.27% of the company’s stock.

Flexsteel Industries Price Performance

FLXS opened at $41.36 on Friday. The company has a fifty day moving average price of $40.37 and a two-hundred day moving average price of $37.26. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.97 and a current ratio of 2.57. Flexsteel Industries, Inc. has a 52 week low of $15.67 and a 52 week high of $45.50. The firm has a market capitalization of $213.25 million, a PE ratio of 14.02, a P/E/G ratio of 1.16 and a beta of 0.46.

Flexsteel Industries (NASDAQ:FLXS) last released its earnings results on Monday, August 19th. The company reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. Flexsteel Industries had a net margin of 2.55% and a return on equity of 7.98%. The firm had revenue of $110.82 million during the quarter, compared to analyst estimates of $109.52 million. As a group, analysts anticipate that Flexsteel Industries, Inc. will post 3 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. Shareholders of record on Wednesday, September 25th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend was Wednesday, September 25th. This is a positive change from Flexsteel Industries’s previous quarterly dividend of $0.15. Flexsteel Industries’s payout ratio is currently 23.05%.

Wall Street Analyst Weigh In

Separately, StockNews.com raised shares of 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.