Flexsteel Makes Russell 3000 Index

June 24, 2012  by in UnCategorized   

By Home Furnishings Business in Financial Reports on June 25, 2012

Furniture supplier Flexsteel Inds. (NASDAQ: FLXS) has joined the list of companies on the U.S. broad-market Russell 3000 Index.

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for both passive and active investment strategies. Russell U.S. indexes have $3.9 trillion in assets currently benchmarked to them. Flexsteel's membership, which will remain in place for one year, means inclusion in the Russell 3000 Index along with the appropriate growth and value style indexes.

"Many investors and institutions rely on the Russell 3000 Index as part of their investment strategy," said Ron Klosterman, president and CEO of Flexsteel. "Flexsteel's inclusion acknowledges our strong business fundamentals and potential for future growth."

Annual reconstitution of Russell's U.S. indexes captures the 4,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization. The largest 1,000 companies in this ranking comprise the Russell 1000 Index and the next 2,000 companies become the Russell 2000 Index. Russell determines membership for its equity indexes primarily by objective, market-capitalization rankings and style attributes.