Flowserve Co. (NYSE:FLS) Shares Sold by Woodstock Corp

Woodstock Corp trimmed its holdings in Flowserve Co. (NYSE:FLS - Free Report) by 18.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 69,543 shares of the industrial products company's stock after selling 15,500 shares during the period. Woodstock Corp owned 0.05% of Flowserve worth $3,396,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. FIL Ltd grew its stake in shares of Flowserve by 71.7% in the fourth quarter. FIL Ltd now owns 5,255,059 shares of the industrial products company's stock valued at $302,271,000 after acquiring an additional 2,193,904 shares in the last quarter. Norges Bank purchased a new stake in Flowserve during the fourth quarter worth about $94,629,000. Driehaus Capital Management LLC increased its stake in shares of Flowserve by 307.1% in the fourth quarter. Driehaus Capital Management LLC now owns 1,888,917 shares of the industrial products company's stock worth $108,651,000 after purchasing an additional 1,424,948 shares in the last quarter. Invesco Ltd. lifted its position in Flowserve by 52.7% during the fourth quarter. Invesco Ltd. now owns 2,068,025 shares of the industrial products company's stock valued at $118,953,000 after purchasing an additional 714,063 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its stake in shares of Flowserve by 57.7% in the fourth quarter. Point72 Asset Management L.P. now owns 1,440,518 shares of the industrial products company's stock worth $82,859,000 after buying an additional 527,250 shares during the period. 93.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently weighed in on FLS. Mizuho set a $60.00 price objective on shares of Flowserve in a research note on Friday, May 16th. Wall Street Zen upgraded Flowserve from a "hold" rating to a "buy" rating in a research note on Wednesday, April 30th. Stifel Nicolaus upped their target price on Flowserve from $50.00 to $54.00 and gave the stock a "buy" rating in a research note on Thursday, May 1st. Citigroup cut their price objective on Flowserve from $72.00 to $56.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, Robert W. Baird lowered their price objective on Flowserve from $71.00 to $70.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $63.00.

Flowserve Stock Performance

FLS traded up $1.16 on Tuesday, hitting $50.58. The company's stock had a trading volume of 1,320,672 shares, compared to its average volume of 1,301,819. The company's 50 day simple moving average is $46.43 and its 200-day simple moving average is $54.11. The company has a quick ratio of 1.39, a current ratio of 1.97 and a debt-to-equity ratio of 0.71. The firm has a market cap of $6.61 billion, a P/E ratio of 23.63, a price-to-earnings-growth ratio of 1.35 and a beta of 1.21. Flowserve Co. has a 12 month low of $37.34 and a 12 month high of $65.08.

Flowserve (NYSE:FLS - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The industrial products company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.13. Flowserve had a net margin of 6.20% and a return on equity of 17.08%. The firm had revenue of $1.14 billion during the quarter, compared to analysts' expectations of $1.11 billion. During the same period in the previous year, the company earned $0.58 earnings per share. The firm's quarterly revenue was up 5.2% on a year-over-year basis. Analysts forecast that Flowserve Co. will post 3.18 EPS for the current year.

Flowserve Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Friday, June 27th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend is Friday, June 27th. Flowserve's dividend payout ratio (DPR) is 39.25%.

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.