Nomura Asset Management Co. Ltd. increased its position in Flowserve Corp (NYSE:FLS) by 21.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,303 shares of the industrial products company’s stock after acquiring an additional 4,595 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Flowserve were worth $1,187,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in FLS. CSat Investment Advisory L.P. grew its stake in shares of Flowserve by 91.4% during the fourth quarter. CSat Investment Advisory L.P. now owns 1,089 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 520 shares during the last quarter. Exane Asset Management bought a new position in Flowserve in the fourth quarter valued at approximately $77,000. Enlightenment Research LLC bought a new position in Flowserve in the fourth quarter valued at approximately $95,000. Municipal Employees Retirement System of Michigan bought a new position in Flowserve in the fourth quarter valued at approximately $128,000. Finally, Dupont Capital Management Corp boosted its stake in Flowserve by 122.7% in the fourth quarter. Dupont Capital Management Corp now owns 3,715 shares of the industrial products company’s stock valued at $141,000 after acquiring an additional 2,047 shares during the last quarter. Hedge funds and other institutional investors own 98.52% of the company’s stock.
In related news, insider John Lenander sold 5,761 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $49.32, for a total value of $284,132.52. Following the completion of the transaction, the insider now owns 16,568 shares of the company’s stock, valued at $817,133.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.36% of the stock is currently owned by company insiders.
Shares of NYSE:FLS traded up $0.76 during midday trading on Monday, reaching $53.45. 1,058,400 shares of the company were exchanged, compared to its average volume of 999,370. Flowserve Corp has a fifty-two week low of $35.88 and a fifty-two week high of $56.86. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.57 and a current ratio of 2.17. The stock’s fifty day moving average price is $49.43. The firm has a market cap of $6.91 billion, a price-to-earnings ratio of 30.54, a PEG ratio of 1.54 and a beta of 1.62.
Flowserve (NYSE:FLS) last released its earnings results on Thursday, May 2nd. The industrial products company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.07. The business had revenue of $890.05 million during the quarter, compared to the consensus estimate of $943.79 million. Flowserve had a net margin of 4.25% and a return on equity of 13.46%. The firm’s revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.27 earnings per share. As a group, analysts expect that Flowserve Corp will post 2.19 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Friday, June 21st will be given a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend is Thursday, June 20th. Flowserve’s dividend payout ratio (DPR) is currently 43.43%.
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).
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