Ritholtz Wealth Management Purchases 3,375 Shares of Flexsteel Industries, Inc. (NASDAQ:FLXS)

Ritholtz Wealth Management raised its position in Flexsteel Industries, Inc. (NASDAQ:FLXS) by 47.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,416 shares of the company’s stock after purchasing an additional 3,375 shares during the quarter. Ritholtz Wealth Management’s holdings in Flexsteel Industries were worth $461,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Denali Advisors LLC acquired a new stake in Flexsteel Industries in the 1st quarter valued at approximately $127,000. Rhumbline Advisers grew its stake in shares of Flexsteel Industries by 1,647.7% during the 2nd quarter. Rhumbline Advisers now owns 5,313 shares of the company’s stock worth $165,000 after acquiring an additional 5,009 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new stake in shares of Flexsteel Industries in the first quarter valued at approximately $195,000. Marshall Wace LLP bought a new stake in shares of Flexsteel Industries in the second quarter worth $217,000. Finally, Weitzel Financial Services Inc. bought a new stake in shares of Flexsteel Industries in the first quarter worth $264,000. 36.27% of the stock is currently owned by institutional investors.

Flexsteel Industries Stock Performance

FLXS opened at $43.41 on Thursday. The business’s 50-day simple moving average is $40.92 and its 200 day simple moving average is $37.37. Flexsteel Industries, Inc. has a 52-week low of $15.67 and a 52-week high of $45.50. The company has a debt-to-equity ratio of 0.03, a quick ratio of 0.97 and a current ratio of 2.57. The firm has a market capitalization of $223.82 million, a PE ratio of 14.72, a PEG ratio of 1.16 and a beta of 0.46.

Flexsteel Industries (NASDAQ:FLXS) last issued its earnings results on Monday, August 19th. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. The company had revenue of $110.82 million for the quarter, compared to analysts’ expectations of $109.52 million. Flexsteel Industries had a net margin of 2.55% and a return on equity of 7.98%. As a group, sell-side analysts expect that Flexsteel Industries, Inc. will post 3 earnings per share for the current fiscal year.

Flexsteel Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Wednesday, September 25th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date was Wednesday, September 25th. This is a boost from Flexsteel Industries’s previous quarterly dividend of $0.15. Flexsteel Industries’s dividend payout ratio is 23.05%.

Analysts Set New Price Targets

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

Flexsteel Industries Company Profile

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.