Geode Capital Management LLC Cuts Stock Position in Flexsteel Industries, Inc. (NASDAQ:FLXS)

Geode Capital Management LLC decreased its stake in shares of Flexsteel Industries, Inc. (NASDAQ:FLXS) by 3.2% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 95,255 shares of the company’s stock after selling 3,194 shares during the quarter. Geode Capital Management LLC owned about 1.83% of Flexsteel Industries worth $4,220,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in FLXS. MetLife Investment Management LLC increased its holdings in shares of Flexsteel Industries by 129.0% during the third quarter. MetLife Investment Management LLC now owns 2,746 shares of the company’s stock valued at $122,000 after acquiring an additional 1,547 shares in the last quarter. Rhumbline Advisers grew its position in Flexsteel Industries by 1,647.7% during the 2nd quarter. Rhumbline Advisers now owns 5,313 shares of the company’s stock valued at $165,000 after purchasing an additional 5,009 shares during the last quarter. Marshall Wace LLP bought a new stake in Flexsteel Industries during the 2nd quarter valued at about $217,000. Dynamic Technology Lab Private Ltd bought a new stake in Flexsteel Industries during the 3rd quarter valued at about $221,000. Finally, Jane Street Group LLC purchased a new position in Flexsteel Industries in the third quarter worth about $228,000. 36.27% of the stock is owned by institutional investors.

Flexsteel Industries Trading Down 0.2 %

Shares of NASDAQ FLXS opened at $53.10 on Monday. The company has a market cap of $276.54 million, a PE ratio of 20.99, a P/E/G ratio of 1.57 and a beta of 0.41. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.04 and a current ratio of 2.84. The firm’s 50 day moving average price is $58.53 and its 200-day moving average price is $45.84. Flexsteel Industries, Inc. has a 52-week low of $17.55 and a 52-week high of $65.87.

Flexsteel Industries (NASDAQ:FLXS) last released its quarterly earnings data on Monday, October 21st. The company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.12. The business had revenue of $104.01 million for the quarter, compared to analysts’ expectations of $101.60 million. Flexsteel Industries had a return on equity of 10.09% and a net margin of 3.30%. During the same period in the prior year, the firm posted $0.14 EPS. On average, equities research analysts expect that Flexsteel Industries, Inc. will post 3.25 EPS for the current fiscal year.

Flexsteel Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Saturday, December 28th will be given a dividend of $0.17 per share. The ex-dividend date is Friday, December 27th. This represents a $0.68 annualized dividend and a dividend yield of 1.28%. Flexsteel Industries’s dividend payout ratio (DPR) is presently 26.88%.

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.