Paradoxiom Capital L.P. Buys 35,545 Shares of Flowserve Corporation $FLS

Key Points

• Paradoxiom Capital L.P. increased its stake in Flowserve Corporation by 22.3%, making it the firm's second biggest position, with a total of 194,751 shares valued at approximately $9.5 million as of the latest SEC filing.
• Flowserve Corporation reported earnings of $0.91 per share for the last quarter, surpassing analysts' expectations of $0.78 by $0.13, despite revenue being slightly below expectations at $1.19 billion.
• The company announced a quarterly dividend of $0.21 per share, representing a 1.5% dividend yield, with a payout ratio of 38.01%.

Paradoxiom Capital L.P. boosted its stake in shares of Flowserve Corporation (NYSE:FLS - Free Report) by 22.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 194,751 shares of the industrial products company's stock after purchasing an additional 35,545 shares during the quarter. Flowserve comprises 6.2% of Paradoxiom Capital L.P.'s portfolio, making the stock its 2nd largest holding. Paradoxiom Capital L.P. owned approximately 0.15% of Flowserve worth $9,512,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of FLS. Principal Financial Group Inc. boosted its holdings in shares of Flowserve by 0.4% during the 1st quarter. Principal Financial Group Inc. now owns 302,275 shares of the industrial products company's stock worth $14,763,000 after buying an additional 1,103 shares during the period. KBC Group NV lifted its position in Flowserve by 4.8% during the 1st quarter. KBC Group NV now owns 5,676 shares of the industrial products company's stock worth $277,000 after acquiring an additional 258 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Flowserve by 26.6% during the first quarter. GAMMA Investing LLC now owns 2,288 shares of the industrial products company's stock valued at $112,000 after acquiring an additional 481 shares during the period. Johnson Investment Counsel Inc. bought a new stake in Flowserve during the first quarter valued at about $216,000. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Flowserve by 453.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 170,808 shares of the industrial products company's stock valued at $8,402,000 after purchasing an additional 139,939 shares during the last quarter. Institutional investors own 93.93% of the company's stock.

Insider Transactions at Flowserve

In related news, insider Kirk Wilson sold 10,000 shares of the stock in a transaction dated Tuesday, August 12th. The shares were 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. This represents a 21.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.72% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Royal Bank Of Canada boosted their price objective on Flowserve from $64.00 to $66.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. The Goldman Sachs Group lifted their price target on Flowserve from $54.00 to $60.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Wall Street Zen cut Flowserve from a "strong-buy" rating to a "buy" rating in a research report on Friday. Mizuho set a $60.00 target price on shares of Flowserve in a research report on Friday, May 16th. Finally, Stifel Nicolaus upped 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 issued a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $65.78.

Flowserve Stock Performance

Shares of FLS traded down $0.36 on Tuesday, reaching $55.29. 1,590,880 shares of the stock traded hands, compared to its average volume of 1,294,778. The stock's 50-day moving average price is $53.92 and its 200-day moving average price is $50.06. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.10 and a quick ratio of 1.50. The firm has a market cap of $7.23 billion, a price-to-earnings ratio of 25.02, a P/E/G ratio of 1.14 and a beta of 1.29. Flowserve Corporation has a 12 month low of $37.34 and a 12 month high of $65.08.

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

Flowserve Announces Dividend

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