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

Ritholtz Wealth Management grew its position in Flexsteel Industries, Inc. (NASDAQ:FLXS) by 47.9% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 10,416 shares of the company’s stock after buying an additional 3,375 shares during the period. Ritholtz Wealth Management owned 0.20% of Flexsteel Industries worth $461,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Denali Advisors LLC acquired a new stake in Flexsteel Industries in the first quarter worth about $127,000. Hillsdale Investment Management Inc. acquired a new stake in shares of Flexsteel Industries during the 1st quarter worth approximately $195,000. Rhumbline Advisers raised its stake in shares of Flexsteel Industries by 1,647.7% during the second quarter. Rhumbline Advisers now owns 5,313 shares of the company’s stock worth $165,000 after buying an additional 5,009 shares during the last quarter. Marshall Wace LLP acquired a new position in Flexsteel Industries in the second quarter valued at approximately $217,000. Finally, Weitzel Financial Services Inc. bought a new position in Flexsteel Industries in the first quarter valued at approximately $264,000. Institutional investors own 36.27% of the company’s stock.

Analyst Upgrades and Downgrades

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

Flexsteel Industries Price Performance

Flexsteel Industries stock opened at $43.41 on Thursday. The company has a current ratio of 2.57, a quick ratio of 0.97 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $223.82 million, a P/E ratio of 14.72, a PEG ratio of 1.16 and a beta of 0.46. The business has a 50-day moving average of $40.92 and a 200-day moving average of $37.37. Flexsteel Industries, Inc. has a 1 year low of $15.67 and a 1 year high of $45.50.

Flexsteel Industries (NASDAQ:FLXS) last issued its quarterly earnings data 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. 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 analysts’ expectations of $109.52 million. On average, equities analysts anticipate that Flexsteel Industries, Inc. will post 3 EPS 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. 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. This represents a $0.68 annualized dividend and a yield of 1.57%. Flexsteel Industries’s payout ratio is currently 23.05%.

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.