Flexsteel Industries, Inc. (FLXS) to Issue Quarterly Dividend of $0.15 on April 4th

Flexsteel Industries, Inc. (NASDAQ:FLXS) announced a quarterly dividend on Tuesday, March 5th, Zacks reports. Stockholders of record on Tuesday, March 26th will be given a dividend of 0.15 per share on Thursday, April 4th. This represents a $0.60 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Monday, March 25th.

Flexsteel Industries has increased its dividend payment by an average of 12.6% annually over the last three years. Flexsteel Industries has a payout ratio of 19.7% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Flexsteel Industries to earn $3.05 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 19.7%.

Flexsteel Industries Trading Up 1.9 %

NASDAQ:FLXS opened at $35.55 on Friday. The company has a current ratio of 3.07, a quick ratio of 0.90 and a debt-to-equity ratio of 0.12. The firm has a market cap of $183.08 million, a P/E ratio of 12.26, a PEG ratio of 1.49 and a beta of 0.52. The stock’s 50 day simple moving average is $31.98 and its 200-day simple moving average is $23.47. Flexsteel Industries has a 12-month low of $15.67 and a 12-month high of $37.97.

Flexsteel Industries (NASDAQ:FLXS) last released its earnings results on Monday, February 5th. The company reported $0.57 EPS for the quarter, meeting analysts’ consensus estimates of $0.57. Flexsteel Industries had a return on equity of 5.13% and a net margin of 3.86%. The company had revenue of $100.11 million during the quarter, compared to the consensus estimate of $100.09 million. Equities analysts anticipate that Flexsteel Industries will post 1.95 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on FLXS shares. StockNews.com upgraded Flexsteel Industries from a “hold” rating to a “buy” rating in a report on Thursday, February 1st. TheStreet raised Flexsteel Industries from a “c” rating to a “b-” rating in a research note on Monday, February 5th.

Institutional Investors Weigh In On Flexsteel Industries

A number of institutional investors have recently added to or reduced their stakes in FLXS. Vanguard Group Inc. raised its stake in shares of Flexsteel Industries by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 243,811 shares of the company’s stock valued at $3,828,000 after acquiring an additional 5,362 shares during the period. Punch & Associates Investment Management Inc. raised its holdings in Flexsteel Industries by 0.6% in the first quarter. Punch & Associates Investment Management Inc. now owns 196,499 shares of the company’s stock valued at $3,785,000 after acquiring an additional 1,199 shares in the last quarter. BlackRock Inc. boosted its stake in Flexsteel Industries by 38.3% during the 3rd quarter. BlackRock Inc. now owns 146,344 shares of the company’s stock valued at $2,297,000 after acquiring an additional 40,540 shares during the last quarter. State Street Corp boosted its stake in Flexsteel Industries by 2.6% during the 1st quarter. State Street Corp now owns 106,455 shares of the company’s stock valued at $2,070,000 after acquiring an additional 2,688 shares during the last quarter. Finally, Millennium Management LLC bought a new stake in shares of Flexsteel Industries in the 2nd quarter worth about $1,380,000. Hedge funds and other institutional investors own 33.45% of the company’s stock.

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.