Flowserve Sees Unusually High Options Volume (FLS)

Flowserve Corp (NYSE:FLS) was the recipient of some unusual options trading on Monday. Stock investors purchased 388 put options on the stock. This represents an increase of 558% compared to the typical daily volume of 59 put options.

In related news, insider John Lenander sold 6,818 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $44.75, for a total transaction of $305,105.50. Following the transaction, the insider now directly owns 22,130 shares in the company, valued at $990,317.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.31% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in FLS. CSat Investment Advisory L.P. boosted its holdings in shares of Flowserve by 91.4% in the 4th quarter. CSat Investment Advisory L.P. now owns 1,089 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 520 shares in the last quarter. Exane Asset Management acquired a new position in shares of Flowserve in the 4th quarter worth approximately $77,000. Enlightenment Research LLC acquired a new position in shares of Flowserve in the 4th quarter worth approximately $95,000. Girard Partners LTD. acquired a new position in shares of Flowserve in the 3rd quarter worth approximately $101,000. Finally, Municipal Employees Retirement System of Michigan acquired a new position in shares of Flowserve in the 4th quarter worth approximately $128,000.

NYSE FLS opened at $45.19 on Tuesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.62 and a current ratio of 2.20. The company has a market cap of $5.80 billion, a price-to-earnings ratio of 25.82, a P/E/G ratio of 1.33 and a beta of 1.64. Flowserve has a 1-year low of $35.88 and a 1-year high of $56.86.

Flowserve (NYSE:FLS) last released its quarterly earnings data on Wednesday, February 20th. The industrial products company reported $0.58 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.58. The company had revenue of $986.90 million for the quarter, compared to the consensus estimate of $1.06 billion. Flowserve had a return on equity of 12.33% and a net margin of 3.12%. The company’s quarterly revenue was down 4.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.50 earnings per share. On average, sell-side analysts predict that Flowserve will post 2.14 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 12th. Shareholders of record on Friday, March 29th will be issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date of this dividend is Thursday, March 28th. Flowserve’s payout ratio is 43.43%.

Several equities analysts recently issued reports on FLS shares. Morgan Stanley lowered Flowserve from an “equal weight” rating to an “underweight” rating in a research note on Tuesday, December 18th. Vertical Research upgraded Flowserve from a “sell” rating to a “hold” rating and set a $43.00 price target on the stock in a research note on Friday, December 14th. Credit Suisse Group restated a “neutral” rating and set a $42.00 price target (down from $48.00) on shares of Flowserve in a research note on Thursday, January 3rd. ValuEngine upgraded Flowserve from a “hold” rating to a “buy” rating in a research note on Friday, February 15th. Finally, TheStreet raised Flowserve from a “c” rating to a “b-” rating in a report on Wednesday, February 27th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and two have assigned a buy rating to the company. Flowserve presently has an average rating of “Hold” and a consensus target price of $48.85.

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Flowserve Company 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).

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