Flexsteel Industries, Inc. (NASDAQ:FLXS) Plans $0.20 Quarterly Dividend

by · The Markets Daily

Flexsteel Industries, Inc. (NASDAQ:FLXS – Get Free Report) announced a quarterly dividend on Tuesday, March 10th. Stockholders of record on Monday, March 30th will be paid a dividend of 0.20 per share on Thursday, April 9th. This represents a c) annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Monday, March 30th.

Flexsteel Industries has a payout ratio of 21.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Flexsteel Industries to earn $4.04 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 19.8%.

Flexsteel Industries Stock Down 2.1%

Shares of Flexsteel Industries stock traded down $1.00 during trading on Wednesday, reaching $45.75. The company’s stock had a trading volume of 7,453 shares, compared to its average volume of 36,483. The company has a market cap of $244.53 million, a price-to-earnings ratio of 12.47, a P/E/G ratio of 0.94 and a beta of 0.47. Flexsteel Industries has a 1-year low of $29.38 and a 1-year high of $59.95. The company has a 50-day simple moving average of $46.53 and a two-hundred day simple moving average of $43.31.

Flexsteel Industries (NASDAQ:FLXS – Get Free Report) last announced its earnings results on Monday, February 2nd. The company reported $1.18 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.39. Flexsteel Industries had a return on equity of 16.67% and a net margin of 4.58%.The firm had revenue of $118.25 million for the quarter, compared to the consensus estimate of $107.51 million. As a group, analysts anticipate that Flexsteel Industries will post 3.53 earnings per share for the current year.

Institutional Trading of Flexsteel Industries

Several large investors have recently added to or reduced their stakes in FLXS. Mariner LLC acquired a new position in Flexsteel Industries in the 4th quarter worth approximately $46,099,000. Focus Partners Wealth acquired a new stake in Flexsteel Industries during the 3rd quarter valued at approximately $1,105,000. SummerHaven Investment Management LLC acquired a new stake in Flexsteel Industries during the 3rd quarter valued at approximately $991,000. Inspire Investing LLC purchased a new stake in shares of Flexsteel Industries in the 3rd quarter valued at $955,000. Finally, LSV Asset Management boosted its holdings in shares of Flexsteel Industries by 102.1% in the 3rd quarter. LSV Asset Management now owns 37,800 shares of the company’s stock valued at $1,752,000 after acquiring an additional 19,100 shares during the last quarter. Hedge funds and other institutional investors own 36.27% of the company’s stock.

About Flexsteel Industries

(Get Free Report)

Flexsteel Industries, Inc (NASDAQ: FLXS) is a U.S.-based furniture manufacturer specializing in the design, production, and marketing of residential upholstered furniture and wood casegoods. The company operates through two primary segments: Upholstery, which encompasses seating products such as sofas, loveseats, chairs, recliners, and sectionals; and Casegoods, which includes accent and occasional tables, cabinets, bookcases, and other wood-based furnishings. Flexsteel sells its products through a network of independent retailers, furniture stores, and distributors across North America.

Flexsteel’s upholstery segment is distinguished by its patented Blue Steel Spring® technology, which offers enhanced longevity and comfort by replacing conventional webbing and springs with a welded steel seat suspension.

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