Flexsteel Industries, Inc. (NASDAQ:FLXS) Position Boosted by Squarepoint Ops LLC

Squarepoint Ops LLC boosted its holdings in shares of Flexsteel Industries, Inc. (NASDAQ:FLXS) by 48.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,474 shares of the company’s stock after acquiring an additional 4,049 shares during the quarter. Squarepoint Ops LLC owned approximately 0.24% of Flexsteel Industries worth $387,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Marshall Wace LLP acquired a new stake in shares of Flexsteel Industries in the 2nd quarter valued at about $217,000. American Century Companies Inc. lifted its position in shares of Flexsteel Industries by 185.1% in the second quarter. American Century Companies Inc. now owns 46,521 shares of the company’s stock valued at $1,445,000 after buying an additional 30,203 shares during the last quarter. Acadian Asset Management LLC lifted its stake in shares of Flexsteel Industries by 8.3% during the 2nd quarter. Acadian Asset Management LLC now owns 12,694 shares of the company’s stock worth $393,000 after buying an additional 968 shares during the last quarter. Rhumbline Advisers lifted its position in 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 acquiring an additional 5,009 shares during the last quarter. Finally, Ritholtz Wealth Management bought a new position in Flexsteel Industries during the 2nd quarter worth $219,000. Institutional investors and hedge funds own 36.27% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Flexsteel Industries Stock Down 2.9 %

Shares of NASDAQ:FLXS opened at $40.72 on Friday. Flexsteel Industries, Inc. has a 1 year low of $15.67 and a 1 year high of $45.50. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.57 and a quick ratio of 0.97. The business’s 50-day moving average is $40.17 and its 200-day moving average is $37.19. The company has a market capitalization of $209.95 million, a price-to-earnings ratio of 13.85, a P/E/G ratio of 1.20 and a beta of 0.46.

Flexsteel Industries (NASDAQ:FLXS) last released its quarterly 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. Flexsteel Industries had a return on equity of 7.98% and a net margin of 2.55%. The business had revenue of $110.82 million during the quarter, compared to the consensus estimate of $109.52 million. Equities research analysts predict that Flexsteel Industries, Inc. will post 3 earnings per share for the current year.

Flexsteel Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Wednesday, September 25th were given a $0.17 dividend. This is an increase from Flexsteel Industries’s previous quarterly dividend of $0.15. This represents a $0.68 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date was Wednesday, September 25th. Flexsteel Industries’s dividend payout ratio (DPR) is currently 23.05%.

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.