Keeley Teton Advisors LLC Buys 9,350 Shares of Flowserve Corporation $FLS

Key Points

• Keeley Teton Advisors LLC increased its holdings in Flowserve Corporation by 12.1%, acquiring an additional 9,350 shares to finalize their total to 86,684 shares valued at approximately $4.23 million.
• Insider Kirk Wilson sold 10,000 shares of Flowserve at an average price of $53.22, reducing his ownership by 21.19%.
• Flowserve recently declared a quarterly dividend of $0.21, with a yield of 1.6%, to be paid to shareholders on October 10th.

Keeley Teton Advisors LLC boosted its stake in Flowserve Corporation (NYSE:FLS - Free Report) by 12.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 86,684 shares of the industrial products company's stock after buying an additional 9,350 shares during the period. Keeley Teton Advisors LLC owned approximately 0.07% of Flowserve worth $4,234,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of FLS. Park Square Financial Group LLC acquired a new position in Flowserve in the 4th quarter valued at about $33,000. Colonial Trust Co SC grew its stake in Flowserve by 415.7% in the 4th quarter. Colonial Trust Co SC now owns 593 shares of the industrial products company's stock valued at $34,000 after buying an additional 478 shares during the last quarter. Signaturefd LLC grew its stake in Flowserve by 71.5% in the 1st quarter. Signaturefd LLC now owns 1,029 shares of the industrial products company's stock valued at $50,000 after buying an additional 429 shares during the last quarter. True Wealth Design LLC grew its stake in Flowserve by 80.1% in the 4th quarter. True Wealth Design LLC now owns 886 shares of the industrial products company's stock valued at $51,000 after buying an additional 394 shares during the last quarter. Finally, Strengthening Families & Communities LLC acquired a new position in Flowserve in the 1st quarter valued at about $53,000. Institutional investors and hedge funds own 93.93% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on FLS. Wall Street Zen upgraded shares of Flowserve from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 2nd. The Goldman Sachs Group boosted their price objective on shares of Flowserve from $54.00 to $60.00 and gave the company a "neutral" rating in a report on Tuesday, July 8th. Royal Bank Of Canada boosted their price objective on shares of Flowserve from $64.00 to $66.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Stifel Nicolaus boosted their price objective on shares of Flowserve from $63.00 to $66.00 and gave the company a "buy" rating in a report on Thursday, July 31st. Finally, Citigroup boosted their price objective on shares of Flowserve from $58.00 to $65.00 and gave the company a "buy" rating in a report on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $65.78.

Flowserve Price Performance

Shares of Flowserve stock traded down $1.06 on Friday, reaching $53.66. 1,240,351 shares of the stock were exchanged, compared to its average volume of 1,482,098. The firm's 50 day moving average is $53.36 and its 200-day moving average is $50.34. Flowserve Corporation has a one year low of $37.34 and a one year high of $65.08. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.50 and a current ratio of 2.10. The firm has a market cap of $7.02 billion, a PE ratio of 24.28, a P/E/G ratio of 1.11 and a beta of 1.28.

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

Flowserve Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Friday, September 26th will be issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, September 26th. Flowserve's dividend payout ratio is 38.01%.

Insider Buying and Selling

In related news, insider Kirk Wilson sold 10,000 shares of the stock in a transaction that occurred on 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.76% of the stock is currently owned by insiders.

About Flowserve

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.