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

Geode Capital Management LLC lowered its stake in Flexsteel Industries, Inc. (NASDAQ:FLXS) by 3.2% during the 3rd quarter, according to its most recent disclosure 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’s holdings in Flexsteel Industries were worth $4,220,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of Flexsteel Industries by 17.9% during the 3rd quarter. State Street Corp now owns 58,687 shares of the company’s stock valued at $2,609,000 after buying an additional 8,917 shares during the period. American Century Companies Inc. increased its position in Flexsteel Industries by 185.1% during the second quarter. American Century Companies Inc. now owns 46,521 shares of the company’s stock valued at $1,445,000 after acquiring an additional 30,203 shares during the last quarter. FMR LLC lifted its holdings in Flexsteel Industries by 26.0% in the third quarter. FMR LLC now owns 37,450 shares of the company’s stock valued at $1,659,000 after acquiring an additional 7,723 shares during the period. Marion Wealth Management boosted its position in Flexsteel Industries by 3.6% in the third quarter. Marion Wealth Management now owns 31,660 shares of the company’s stock worth $1,402,000 after purchasing an additional 1,101 shares during the last quarter. Finally, Empowered Funds LLC boosted its position in Flexsteel Industries by 5.1% in the third quarter. Empowered Funds LLC now owns 22,048 shares of the company’s stock worth $977,000 after purchasing an additional 1,072 shares during the last quarter. Institutional investors own 36.27% of the company’s stock.

Flexsteel Industries Price Performance

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

Flexsteel Industries (NASDAQ:FLXS) last announced its earnings results 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. Flexsteel Industries had a net margin of 3.30% and a return on equity of 10.09%. The company had revenue of $104.01 million during the quarter, compared to analyst estimates of $101.60 million. During the same period in the previous year, the business posted $0.14 earnings per share. Equities research analysts anticipate that Flexsteel Industries, Inc. will post 3.25 earnings per share for the current year.

Flexsteel Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Saturday, December 28th will be paid a $0.17 dividend. The ex-dividend date of this dividend 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 26.88%.

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.