Graham Capital Management L.P. Has $2.55 Million Stake in Flowserve Corporation $FLS

Key Points

• Graham Capital Management L.P. reduced its holdings in Flowserve Corporation by 24.1% in Q1, now owning 52,142 shares worth approximately $2.5 million.
• Flowserve's stock recently saw a drop of 1.9%, with a current market cap of $7.02 billion and a 52-week range of $37.34 to $65.08.
• The company announced a quarterly dividend of $0.21, with an ex-dividend date of September 26, representing an annualized yield of 1.6%.

Graham Capital Management L.P. trimmed its position in Flowserve Corporation (NYSE:FLS - Free Report) by 24.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,142 shares of the industrial products company's stock after selling 16,514 shares during the quarter. Graham Capital Management L.P.'s holdings in Flowserve were worth $2,547,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Park Square Financial Group LLC acquired a new position in shares of Flowserve in the fourth quarter worth about $33,000. Colonial Trust Co SC boosted its holdings in shares of Flowserve by 415.7% in the fourth quarter. Colonial Trust Co SC now owns 593 shares of the industrial products company's stock worth $34,000 after buying an additional 478 shares during the period. Signaturefd LLC lifted its position in shares of Flowserve by 71.5% in the first quarter. Signaturefd LLC now owns 1,029 shares of the industrial products company's stock worth $50,000 after purchasing an additional 429 shares in the last quarter. Brooklyn Investment Group lifted its position in shares of Flowserve by 47.2% in the first quarter. Brooklyn Investment Group now owns 1,089 shares of the industrial products company's stock worth $53,000 after purchasing an additional 349 shares in the last quarter. Finally, Strengthening Families & Communities LLC purchased a new stake in shares of Flowserve in the first quarter worth approximately $53,000. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on FLS shares. The Goldman Sachs Group increased their price target on shares of Flowserve from $54.00 to $60.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Citigroup boosted their price target on shares of Flowserve from $58.00 to $65.00 and gave the company a "buy" rating in a report on Monday, July 14th. Royal Bank Of Canada boosted their target price on shares of Flowserve from $64.00 to $66.00 and gave the company an "outperform" rating in a research note on Thursday, July 31st. Mizuho set a $60.00 target price on shares of Flowserve in a research note on Friday, May 16th. Finally, Stifel Nicolaus boosted their target price on shares of Flowserve from $63.00 to $66.00 and gave the company a "buy" rating in a research note on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, Flowserve has an average rating of "Buy" and a consensus price target of $65.78.

Insider Activity

In related news, insider Kirk Wilson sold 10,000 shares of the business's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $53.22, for a total value of $532,200.00. Following the completion of the transaction, the insider owned 37,196 shares of the company's stock, valued at $1,979,571.12. The trade was a 21.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.76% of the company's stock.

Flowserve Price Performance

NYSE FLS traded up $0.61 on Friday, hitting $55.16. 2,304,489 shares of the company were exchanged, compared to its average volume of 1,224,646. The company has a current ratio of 2.10, a quick ratio of 1.50 and a debt-to-equity ratio of 0.63. Flowserve Corporation has a 1-year low of $37.34 and a 1-year high of $65.08. The company has a market cap of $7.21 billion, a P/E ratio of 24.96, a P/E/G ratio of 1.13 and a beta of 1.29. The firm has a 50 day moving average of $53.80 and a two-hundred day moving average of $50.07.

Flowserve (NYSE:FLS - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $0.91 EPS for the quarter, beating analysts' consensus estimates of $0.78 by $0.13. Flowserve had a return on equity of 18.25% and a net margin of 6.28%.The company had revenue of $1.19 billion during the quarter, compared to analysts' expectations of $1.22 billion. On average, equities analysts predict that Flowserve Corporation will post 3.18 EPS for the current year.

Flowserve Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Friday, September 26th will be given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend is Friday, September 26th. Flowserve's payout ratio is presently 38.01%.

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.