Ossiam purchased a new position in shares of Flowserve Corp (NYSE:FLS) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,222 shares of the industrial products company’s stock, valued at approximately $117,000.

Other large investors have also recently added to or reduced their stakes in the company. World Asset Management Inc raised its stake in shares of Flowserve by 2.1% in the second quarter. World Asset Management Inc now owns 9,743 shares of the industrial products company’s stock valued at $513,000 after acquiring an additional 205 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in shares of Flowserve by 0.3% in the first quarter. Great West Life Assurance Co. Can now owns 85,027 shares of the industrial products company’s stock valued at $3,831,000 after acquiring an additional 223 shares in the last quarter. Mason Street Advisors LLC raised its stake in shares of Flowserve by 1.3% in the first quarter. Mason Street Advisors LLC now owns 18,687 shares of the industrial products company’s stock valued at $844,000 after acquiring an additional 238 shares in the last quarter. Woodstock Corp raised its stake in shares of Flowserve by 0.8% in the second quarter. Woodstock Corp now owns 32,550 shares of the industrial products company’s stock valued at $1,715,000 after acquiring an additional 250 shares in the last quarter. Finally, State Treasurer State of Michigan raised its stake in shares of Flowserve by 0.8% in the first quarter. State Treasurer State of Michigan now owns 37,775 shares of the industrial products company’s stock valued at $1,705,000 after acquiring an additional 300 shares in the last quarter. Institutional investors own 97.21% of the company’s stock.

Several brokerages have recently issued reports on FLS. Citigroup reduced their price objective on Flowserve from $61.00 to $58.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Morgan Stanley reduced their price objective on Flowserve from $47.00 to $43.00 and set an “underweight” rating on the stock in a research note on Friday, August 2nd. Stifel Nicolaus increased their price objective on Flowserve from $49.00 to $52.00 and gave the company a “hold” rating in a research note on Monday, July 15th. Zacks Investment Research upgraded Flowserve from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a research note on Friday, May 17th. Finally, Credit Suisse Group raised Flowserve from a “neutral” rating to an “outperform” rating and set a $54.00 target price on the stock in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. Flowserve currently has an average rating of “Hold” and an average price target of $50.56.

NYSE:FLS traded up $1.05 during trading hours on Friday, hitting $48.58. The company’s stock had a trading volume of 21,947 shares, compared to its average volume of 986,930. The stock has a market capitalization of $6.34 billion, a P/E ratio of 27.76, a price-to-earnings-growth ratio of 1.41 and a beta of 1.67. The stock has a fifty day moving average of $44.54 and a 200-day moving average of $47.53. The company has a current ratio of 2.28, a quick ratio of 1.63 and a debt-to-equity ratio of 0.88. Flowserve Corp has a 52-week low of $35.88 and a 52-week high of $56.86.

Flowserve (NYSE:FLS) last issued its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.03. The company had revenue of $990.08 million for the quarter, compared to analyst estimates of $1 billion. Flowserve had a return on equity of 15.75% and a net margin of 5.41%. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.41 earnings per share. On average, sell-side analysts forecast that Flowserve Corp will post 2.2 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 4th. Shareholders of record on Friday, September 20th will be issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Thursday, September 19th. Flowserve’s payout ratio is 43.43%.

Flowserve Profile

Flowserve Corporation designs, develops, manufactures, distributes, and services industrial flow management equipment in the United States, Europe, the Middle East, Africa, Asia, and internationally. The company operates through three segments: Engineered Product Division (EPD), Industrial Product Division (IPD), and Flow Control Division (FCD).

Further Reading: Why does a company issue an IPO?

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Institutional Ownership by Quarter for Flowserve (NYSE:FLS)

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