Empowered Funds LLC Raises Stock Holdings in Flexsteel Industries, Inc. (NASDAQ:FLXS)

Empowered Funds LLC increased its position in Flexsteel Industries, Inc. (NASDAQ:FLXS) by 5.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,048 shares of the company’s stock after buying an additional 1,072 shares during the quarter. Empowered Funds LLC owned 0.42% of Flexsteel Industries worth $977,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in FLXS. Acadian Asset Management LLC purchased a new position in Flexsteel Industries during the 1st quarter valued at $435,000. Marion Wealth Management increased its position in Flexsteel Industries by 2.4% during the 2nd quarter. Marion Wealth Management now owns 30,559 shares of the company’s stock valued at $949,000 after purchasing an additional 722 shares during the period. Bank of New York Mellon Corp purchased a new position in Flexsteel Industries during the 2nd quarter valued at $425,000. Nations Financial Group Inc. IA ADV purchased a new position in Flexsteel Industries during the 2nd quarter valued at $843,000. Finally, Ritholtz Wealth Management purchased a new position in Flexsteel Industries during the 2nd quarter valued at $219,000. 36.27% of the stock is owned by hedge funds and other institutional investors.

Flexsteel Industries Stock Performance

Shares of FLXS stock opened at $59.71 on Friday. Flexsteel Industries, Inc. has a 12 month low of $16.80 and a 12 month high of $60.69. The stock has a market cap of $310.97 million, a PE ratio of 23.16, a price-to-earnings-growth ratio of 1.49 and a beta of 0.42. The company has a current ratio of 2.84, a quick ratio of 1.04 and a debt-to-equity ratio of 0.02. The company’s fifty day moving average price is $49.84 and its 200-day moving average price is $40.62.

Flexsteel Industries (NASDAQ:FLXS) last announced its quarterly 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 company had revenue of $104.01 million for the quarter, compared to analysts’ expectations of $101.60 million. Flexsteel Industries had a net margin of 3.30% and a return on equity of 10.09%. During the same quarter in the previous year, the business posted $0.14 EPS. On average, equities analysts expect that Flexsteel Industries, Inc. will post 3.25 EPS for the current fiscal year.

Flexsteel Industries Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Wednesday, September 25th were paid a dividend of $0.17 per share. The ex-dividend date was Wednesday, September 25th. This represents a $0.68 annualized dividend and a yield of 1.14%. This is a boost from Flexsteel Industries’s previous quarterly dividend of $0.15. Flexsteel Industries’s dividend payout ratio is currently 26.88%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded 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.