Dark Forest Capital Management LP Makes New Investment in Flowserve Co. (NYSE:FLS)

Dark Forest Capital Management LP purchased a new stake in Flowserve Co. (NYSE:FLS - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 24,493 shares of the industrial products company's stock, valued at approximately $1,409,000.

A number of other hedge funds have also added to or reduced their stakes in FLS. New York Life Investment Management LLC bought a new position in Flowserve in the fourth quarter worth about $800,000. American Century Companies Inc. boosted its stake in Flowserve by 25.9% during the fourth quarter. American Century Companies Inc. now owns 110,994 shares of the industrial products company's stock worth $6,384,000 after acquiring an additional 22,850 shares in the last quarter. New Age Alpha Advisors LLC purchased a new position in shares of Flowserve during the fourth quarter valued at approximately $422,000. Commonwealth Equity Services LLC grew its stake in shares of Flowserve by 103.0% in the 4th quarter. Commonwealth Equity Services LLC now owns 20,806 shares of the industrial products company's stock worth $1,197,000 after buying an additional 10,557 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in Flowserve by 19.1% during the 4th quarter. GAMMA Investing LLC now owns 1,807 shares of the industrial products company's stock valued at $104,000 after buying an additional 290 shares in the last quarter. 93.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FLS has been the subject of several analyst reports. StockNews.com downgraded Flowserve from a "buy" rating to a "hold" rating in a report on Thursday, February 20th. TD Cowen upped their price target on Flowserve from $60.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, January 16th. Robert W. Baird raised Flowserve from a "neutral" rating to an "outperform" rating and set a $71.00 target price for the company in a research report on Monday, March 17th. Mizuho lifted their price target on shares of Flowserve from $65.00 to $70.00 and gave the stock an "outperform" rating in a research note on Thursday, February 20th. Finally, Stifel Nicolaus lowered their price objective on shares of Flowserve from $77.00 to $50.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Two research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $64.30.

Flowserve Price Performance

FLS stock traded down $0.20 during trading on Monday, hitting $44.62. 434,435 shares of the company's stock traded hands, compared to its average volume of 1,573,328. The business has a fifty day simple moving average of $47.86 and a 200 day simple moving average of $55.35. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.39 and a current ratio of 1.97. The stock has a market capitalization of $5.88 billion, a price-to-earnings ratio of 20.85, a P/E/G ratio of 1.35 and a beta of 1.22. Flowserve Co. has a 52 week low of $37.34 and a 52 week high of $65.08.

Flowserve (NYSE:FLS - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The industrial products company reported $0.70 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.07). The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.21 billion. Flowserve had a return on equity of 17.08% and a net margin of 6.20%. As a group, research analysts expect that Flowserve Co. will post 3.18 EPS for the current fiscal year.

Flowserve Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Friday, March 28th were given a $0.21 dividend. The ex-dividend date of this dividend was Friday, March 28th. This represents a $0.84 annualized dividend and a yield of 1.88%. Flowserve's dividend payout ratio (DPR) is 39.25%.

Flowserve Profile

Flowserve Corporation designs, manufactures, distributes, and services industrial flow management equipment in the United States, Canada, Mexico, Europe, the Middle East, Africa, and the Asia Pacific. It operates through Flowserve Pump Division (FPD) and Flow Control Division (FCD) segments. The FPD segment offers custom and pre-configured pumps and pump systems, mechanical seals, auxiliary systems, replacement parts, upgrades, and related aftermarket services; and equipment services, including installation and commissioning services, seal systems spare parts, repairs, advanced diagnostics, re-rate and upgrade solutions, retrofit programs, and machining and asset management solutions, as well as manufactures a gas-lubricated mechanical seal for use in high-speed compressors for gas pipelines and in the oil and gas production and process markets.