Flexsteel Industries (NASDAQ:FLXS) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Flexsteel Industries (NASDAQ:FLXS) from a buy rating to a strong-buy rating in a research note published on Saturday morning.

Flexsteel Industries Trading Up 1.9%

FLXS stock opened at $34.06 on Friday. The stock’s fifty day simple moving average is $35.09 and its two-hundred day simple moving average is $38.61. Flexsteel Industries has a 1-year low of $29.38 and a 1-year high of $65.87. The stock has a market cap of $179.50 million, a P/E ratio of 13.41, a P/E/G ratio of 0.74 and a beta of 0.32.

Flexsteel Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 7th. Shareholders of record on Wednesday, June 25th were given a $0.20 dividend. This is an increase from Flexsteel Industries’s previous quarterly dividend of $0.17. This represents a $0.80 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Wednesday, June 25th. Flexsteel Industries’s payout ratio is presently 31.50%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. US Bancorp DE purchased a new position in Flexsteel Industries in the first quarter worth $26,000. GAMMA Investing LLC lifted its position in shares of Flexsteel Industries by 4,864.0% during the 1st quarter. GAMMA Investing LLC now owns 1,241 shares of the company’s stock valued at $45,000 after buying an additional 1,216 shares during the last quarter. State of Wyoming purchased a new position in shares of Flexsteel Industries during the 4th quarter valued at $52,000. Russell Investments Group Ltd. purchased a new position in shares of Flexsteel Industries during the 1st quarter valued at $58,000. Finally, Aster Capital Management DIFC Ltd purchased a new position in shares of Flexsteel Industries during the 4th quarter valued at $70,000. Hedge funds and other institutional investors own 36.27% of the company’s stock.

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.