First Trust Advisors LP Trims Stake in Flexsteel Industries, Inc. (NASDAQ:FLXS)

First Trust Advisors LP cut its position in shares of Flexsteel Industries, Inc. (NASDAQ:FLXS) by 9.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 11,341 shares of the company’s stock after selling 1,152 shares during the quarter. First Trust Advisors LP’s holdings in Flexsteel Industries were worth $616,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd purchased a new position in shares of Flexsteel Industries during the fourth quarter valued at approximately $70,000. SG Americas Securities LLC bought a new position in Flexsteel Industries in the 4th quarter valued at $106,000. Wells Fargo & Company MN increased its stake in Flexsteel Industries by 29.3% in the fourth quarter. Wells Fargo & Company MN now owns 2,739 shares of the company’s stock worth $149,000 after purchasing an additional 620 shares during the period. Semanteon Capital Management LP bought a new stake in shares of Flexsteel Industries during the fourth quarter worth $217,000. Finally, Jane Street Group LLC purchased a new stake in shares of Flexsteel Industries during the third quarter valued at $228,000. 36.27% of the stock is currently owned by institutional investors.

Flexsteel Industries Trading Up 2.9 %

NASDAQ FLXS opened at $31.98 on Friday. The stock has a market cap of $168.63 million, a PE ratio of 8.93, a PEG ratio of 1.14 and a beta of 0.41. Flexsteel Industries, Inc. has a 12 month low of $28.81 and a 12 month high of $65.87. The company’s 50-day moving average price is $35.94 and its 200-day moving average price is $48.42.

Flexsteel Industries (NASDAQ:FLXS) last announced its quarterly earnings results on Monday, April 21st. The company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.25. The firm had revenue of $113.97 million during the quarter, compared to analyst estimates of $112.24 million. Flexsteel Industries had a return on equity of 11.25% and a net margin of 4.63%. As a group, sell-side analysts forecast that Flexsteel Industries, Inc. will post 3.53 earnings per share for the current year.

Flexsteel Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Wednesday, March 26th were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.13%. The ex-dividend date was Wednesday, March 26th. Flexsteel Industries’s dividend payout ratio (DPR) is presently 26.77%.

Flexsteel Industries 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.