John G Ullman & Associates Inc. reduced its stake in shares of Flowserve Corp (NYSE:FLS) by 0.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 235,935 shares of the industrial products company’s stock after selling 500 shares during the quarter. Flowserve makes up approximately 1.9% of John G Ullman & Associates Inc.’s portfolio, making the stock its 16th largest position. John G Ullman & Associates Inc. owned about 0.18% of Flowserve worth $10,650,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. CSat Investment Advisory L.P. lifted its stake in Flowserve by 91.4% in 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 acquiring an additional 520 shares during the last quarter. Exane Asset Management acquired a new stake in shares of Flowserve in the fourth quarter worth $77,000. Enlightenment Research LLC acquired a new stake in shares of Flowserve in the fourth quarter worth $95,000. Municipal Employees Retirement System of Michigan acquired a new stake in shares of Flowserve in the fourth quarter worth $128,000. Finally, Dupont Capital Management Corp lifted its stake in shares of Flowserve by 122.7% in the fourth quarter. Dupont Capital Management Corp now owns 3,715 shares of the industrial products company’s stock worth $141,000 after buying an additional 2,047 shares during the last quarter.
In related news, insider John Lenander sold 6,818 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $44.75, for a total transaction of $305,105.50. Following the transaction, the insider now owns 22,130 shares of the company’s stock, valued at $990,317.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.36% of the company’s stock.
FLS has been the subject of a number of analyst reports. ValuEngine upgraded shares of Flowserve from a “hold” rating to a “buy” rating in a research note on Friday, February 15th. TheStreet upgraded shares of Flowserve from a “c” rating to a “b-” rating in a research note on Wednesday, February 27th. Finally, Zacks Investment Research cut shares of Flowserve from a “hold” rating to a “sell” rating in a research note on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $49.69.
FLS stock traded down $0.05 on Friday, reaching $48.64. 519,800 shares of the company were exchanged, compared to its average volume of 1,036,300. Flowserve Corp has a 12 month low of $35.88 and a 12 month high of $56.86. The firm has a market capitalization of $6.64 billion, a P/E ratio of 27.79, a price-to-earnings-growth ratio of 1.49 and a beta of 1.66. The company has a current ratio of 2.17, a quick ratio of 1.57 and a debt-to-equity ratio of 0.91.
Flowserve (NYSE:FLS) last announced its earnings results on Thursday, May 2nd. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.07. Flowserve had a net margin of 4.25% and a return on equity of 13.46%. The business had revenue of $890.05 million for the quarter, compared to analyst estimates of $943.79 million. During the same quarter in the previous year, the firm posted $0.27 earnings per share. Flowserve’s revenue was down 3.3% compared to the same quarter last year. Equities research analysts anticipate that Flowserve Corp will post 2.19 EPS for the current fiscal year.
The business 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 dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.56%. 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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