Nations Financial Group Inc. IA ADV Has $759,000 Holdings in Flexsteel Industries, Inc. (NASDAQ:FLXS)

Nations Financial Group Inc. IA ADV trimmed its holdings in shares of Flexsteel Industries, Inc. (NASDAQ:FLXS) by 36.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,141 shares of the company’s stock after selling 10,000 shares during the quarter. Nations Financial Group Inc. IA ADV owned about 0.33% of Flexsteel Industries worth $759,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hillsdale Investment Management Inc. bought a new position in Flexsteel Industries in the 1st quarter valued at about $195,000. Rhumbline Advisers increased its stake in shares of Flexsteel Industries by 1,647.7% in 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 acquired a new stake in Flexsteel Industries in the second quarter valued at about $217,000. Ritholtz Wealth Management bought a new position in Flexsteel Industries in the second quarter valued at about $219,000. Finally, Heron Bay Capital Management acquired a new position in Flexsteel Industries during the first quarter worth about $298,000. Institutional investors and hedge funds own 36.27% of the company’s stock.

Flexsteel Industries Stock Performance

NASDAQ:FLXS opened at $57.70 on Wednesday. Flexsteel Industries, Inc. has a 1-year low of $16.18 and a 1-year high of $60.69. The company has a current ratio of 2.84, a quick ratio of 1.04 and a debt-to-equity ratio of 0.02. The stock has a market cap of $300.62 million, a P/E ratio of 23.81, a price-to-earnings-growth ratio of 1.54 and a beta of 0.42. The stock’s 50-day moving average is $47.06 and its 200-day moving average is $39.52.

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, topping the consensus estimate of $0.62 by $0.12. Flexsteel Industries had a return on equity of 10.09% and a net margin of 3.30%. The business had revenue of $104.01 million during the quarter, compared to analyst estimates of $101.60 million. During the same period last year, the company earned $0.14 EPS. Equities research analysts anticipate that Flexsteel Industries, Inc. will post 3.25 earnings per share for the current year.

Flexsteel Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Wednesday, September 25th were given a dividend of $0.17 per share. The ex-dividend date was Wednesday, September 25th. This is a boost from Flexsteel Industries’s previous quarterly dividend of $0.15. This represents a $0.68 annualized dividend and a dividend yield of 1.18%. Flexsteel Industries’s dividend payout ratio is 26.88%.

Analyst Upgrades and Downgrades

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

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.