Ossiam purchased a new stake in Flowserve Corp (NYSE:FLS) during the second quarter, according to its most recent filing with the SEC. The firm purchased 2,222 shares of the industrial products company’s stock, valued at approximately $117,000.
Several other large investors also recently made changes to their positions in the company. Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of Flowserve by 49.6% in the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 2,717,846 shares of the industrial products company’s stock valued at $143,203,000 after acquiring an additional 901,087 shares during the period. Geode Capital Management LLC grew its stake in Flowserve by 8.1% during the 4th quarter. Geode Capital Management LLC now owns 1,795,400 shares of the industrial products company’s stock worth $68,149,000 after buying an additional 134,350 shares during the last quarter. Bank of New York Mellon Corp grew its stake in Flowserve by 9.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,503,896 shares of the industrial products company’s stock worth $79,241,000 after buying an additional 130,878 shares during the last quarter. Northern Trust Corp grew its stake in Flowserve by 0.7% during the 2nd quarter. Northern Trust Corp now owns 1,472,218 shares of the industrial products company’s stock worth $77,571,000 after buying an additional 10,249 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Flowserve by 4.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,041,122 shares of the industrial products company’s stock worth $39,583,000 after buying an additional 42,447 shares during the last quarter. Institutional investors and hedge funds own 97.21% of the company’s stock.
Shares of FLS stock traded up $1.05 on Friday, hitting $48.58. The company had a trading volume of 21,947 shares, compared to its average volume of 986,930. The firm has a market cap 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 company has a 50-day moving average price of $44.54 and a 200-day moving average price of $47.53. The company has a quick ratio of 1.63, a current ratio of 2.28 and a debt-to-equity ratio of 0.88. Flowserve Corp has a twelve month low of $35.88 and a twelve month high of $56.86.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Investors of record on Friday, September 20th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Thursday, September 19th. This represents a $0.76 annualized dividend and a dividend yield of 1.56%. Flowserve’s dividend payout ratio is presently 43.43%.
Several brokerages recently weighed in on FLS. Credit Suisse Group upgraded Flowserve from a “neutral” rating to an “outperform” rating and set a $54.00 target price on the stock in a research note on Friday, August 2nd. Zacks Investment Research upgraded Flowserve from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a research note on Friday, May 17th. Stifel Nicolaus boosted their target price on Flowserve from $49.00 to $52.00 and gave the stock a “hold” rating in a research note on Monday, July 15th. TheStreet cut Flowserve from a “b-” rating to a “c+” rating in a research report on Tuesday, August 20th. Finally, ValuEngine cut Flowserve from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $50.56.
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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