MetLife Investment Advisors LLC bought a new stake in Flowserve (NYSE:FLS) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 40,420 shares of the industrial products company’s stock, valued at approximately $1,703,000.
A number of other hedge funds have also recently made changes to their positions in FLS. Nationwide Fund Advisors raised its stake in Flowserve by 11.6% in the 3rd quarter. Nationwide Fund Advisors now owns 49,927 shares of the industrial products company’s stock valued at $2,126,000 after purchasing an additional 5,200 shares during the last quarter. New York State Common Retirement Fund raised its stake in Flowserve by 6.6% in the 3rd quarter. New York State Common Retirement Fund now owns 447,177 shares of the industrial products company’s stock valued at $19,045,000 after purchasing an additional 27,688 shares during the last quarter. Legal & General Group Plc raised its stake in Flowserve by 0.8% in the 3rd quarter. Legal & General Group Plc now owns 654,891 shares of the industrial products company’s stock valued at $27,891,000 after purchasing an additional 5,091 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in Flowserve by 2.1% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 657,520 shares of the industrial products company’s stock valued at $28,004,000 after purchasing an additional 13,817 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Flowserve by 12.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 730,254 shares of the industrial products company’s stock valued at $31,101,000 after purchasing an additional 83,660 shares during the last quarter.
NYSE FLS opened at $43.18 on Friday. Flowserve has a 12 month low of $37.51 and a 12 month high of $51.92. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.06 and a quick ratio of 1.35. The stock has a market cap of $5,761.64, a PE ratio of 31.75, a P/E/G ratio of 1.49 and a beta of 1.45.
Flowserve (NYSE:FLS) last posted its quarterly earnings data on Thursday, February 15th. The industrial products company reported $0.50 EPS for the quarter, missing the Zacks’ consensus estimate of $0.52 by ($0.02). Flowserve had a negative net margin of 0.04% and a positive return on equity of 10.36%. The company had revenue of $1.03 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the company earned $1.14 EPS. The company’s revenue was down 3.4% compared to the same quarter last year. analysts expect that Flowserve will post 1.66 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 13th. Stockholders of record on Thursday, March 29th will be paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date of this dividend is Wednesday, March 28th. Flowserve’s dividend payout ratio is currently 55.88%.
Several research analysts recently weighed in on the stock. Stifel Nicolaus cut their target price on shares of Flowserve from $47.00 to $44.00 and set a “hold” rating for the company in a research note on Tuesday, February 20th. Royal Bank of Canada raised shares of Flowserve from an “underperform” rating to a “sector perform” rating in a research note on Tuesday, February 20th. Zacks Investment Research downgraded shares of Flowserve from a “hold” rating to a “sell” rating in a research note on Wednesday, February 7th. Finally, Robert W. Baird reissued a “hold” rating and issued a $45.00 target price on shares of Flowserve in a research note on Friday, December 15th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $43.67.
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Flowserve Corporation is a manufacturer and aftermarket service provider of flow control systems. The Company’s segments include Engineered Product Division, Industrial Product Division and Flow Control Division. Its geographic segments include North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
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