MetLife Investment Management LLC Has $4.26 Million Stake in Flowserve Co. (NYSE:FLS)

MetLife Investment Management LLC increased its stake in shares of Flowserve Co. (NYSE:FLS - Free Report) by 9.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 74,055 shares of the industrial products company's stock after purchasing an additional 6,156 shares during the quarter. MetLife Investment Management LLC owned 0.06% of Flowserve worth $4,260,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. Headlands Technologies LLC increased its stake in Flowserve by 4,790.0% in the fourth quarter. Headlands Technologies LLC now owns 489 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 479 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Flowserve in the 3rd quarter valued at $29,000. UMB Bank n.a. lifted its position in Flowserve by 64.2% in the fourth quarter. UMB Bank n.a. now owns 711 shares of the industrial products company's stock valued at $41,000 after acquiring an additional 278 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Flowserve by 185.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 915 shares of the industrial products company's stock valued at $53,000 after acquiring an additional 595 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its holdings in shares of Flowserve by 34.6% during the fourth quarter. Quadrant Capital Group LLC now owns 1,070 shares of the industrial products company's stock worth $62,000 after purchasing an additional 275 shares during the last quarter. Hedge funds and other institutional investors own 93.93% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Royal Bank of Canada cut their target price on shares of Flowserve from $69.00 to $68.00 and set an "outperform" rating on the stock in a report on Thursday, February 20th. Mizuho increased their target price 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. TD Cowen raised 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. StockNews.com lowered shares of Flowserve from a "buy" rating to a "hold" rating in a research report on Thursday, February 20th. Finally, Robert W. Baird raised shares of Flowserve from a "neutral" rating to an "outperform" rating and set a $71.00 price objective for the company in a research note on Monday, March 17th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $64.30.

Flowserve Trading Up 1.1 %

Shares of FLS stock traded up $0.50 during trading hours on Wednesday, reaching $45.38. 1,113,254 shares of the stock traded hands, compared to its average volume of 1,279,313. The business has a fifty day moving average price of $47.32 and a 200 day moving average price of $55.21. Flowserve Co. has a 1-year low of $37.34 and a 1-year high of $65.08. 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 capitalization of $5.98 billion, a PE ratio of 21.16, a PEG ratio of 1.35 and a beta of 1.22.

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

Flowserve Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Friday, March 28th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.85%. The ex-dividend date of this dividend was Friday, March 28th. Flowserve's dividend payout ratio is currently 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.