Tokio Marine Asset Management Co. Ltd. continued to hold its position in Flowserve Corp. (NYSE:FLS) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,242 shares of the company’s stock at the end of the second quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Flowserve Corp. were worth $282,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in FLS. Capital Fund Management S.A. acquired a new position in Flowserve Corp. during the second quarter worth about $551,000. Bartlett & Co. LLC boosted its stake in shares of Flowserve Corp. by 1.4% in the second quarter. Bartlett & Co. LLC now owns 283,321 shares of the company’s stock valued at $12,798,000 after buying an additional 4,017 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Flowserve Corp. by 6.6% in the second quarter. American Century Companies Inc. now owns 1,391,770 shares of the company’s stock valued at $62,866,000 after buying an additional 86,140 shares in the last quarter. Retirement Systems of Alabama boosted its stake in shares of Flowserve Corp. by 1.1% in the second quarter. Retirement Systems of Alabama now owns 66,462 shares of the company’s stock valued at $3,002,000 after buying an additional 706 shares in the last quarter. Finally, Strs Ohio boosted its stake in shares of Flowserve Corp. by 124.7% in the second quarter. Strs Ohio now owns 4,097 shares of the company’s stock valued at $185,000 after buying an additional 2,274 shares in the last quarter. 98.49% of the stock is owned by institutional investors and hedge funds.
Flowserve Corp. (NYSE:FLS) traded down 0.69% during trading on Friday, reaching $43.39. The company’s stock had a trading volume of 1,837,612 shares. The company’s 50-day moving average is $47.05 and its 200-day moving average is $47.01. The stock has a market cap of $5.66 billion, a PE ratio of 21.50 and a beta of 1.65. Flowserve Corp. has a 12 month low of $33.86 and a 12 month high of $52.50.
Flowserve Corp. (NYSE:FLS) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.57 EPS for the quarter, missing the Zacks’ consensus estimate of $0.60 by $0.03. Flowserve Corp. had a net margin of 6.10% and a return on equity of 20.30%. The firm earned $1.03 billion during the quarter, compared to analyst estimates of $1,000 million. During the same period last year, the business posted $0.80 EPS. The company’s revenue was down 11.7% on a year-over-year basis. Equities analysts expect that Flowserve Corp. will post $2.42 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.76 dividend on an annualized basis and a yield of 1.75%. Flowserve Corp.’s dividend payout ratio (DPR) is presently 37.81%.
Several brokerages have weighed in on FLS. Northcoast Research reissued a “neutral” rating on shares of Flowserve Corp. in a report on Tuesday, August 16th. Stifel Nicolaus reissued a “buy” rating and set a $54.00 price objective on shares of Flowserve Corp. in a report on Tuesday, August 2nd. Oppenheimer Holdings Inc. reissued a “” rating on shares of Flowserve Corp. in a report on Thursday, September 8th. Zacks Investment Research cut Flowserve Corp. from a “hold” rating to a “sell” rating in a report on Monday, September 5th. Finally, BMO Capital Markets dropped their price objective on Flowserve Corp. from $44.00 to $42.00 and set a “market perform” rating for the company in a report on Monday, August 1st. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of €61.97 ($68.85).
In related news, CEO Mark A. Blinn sold 84,261 shares of Flowserve Corp. stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of €45.50 ($50.56), for a total transaction of €3,833,875.50 ($4,259,861.67). Following the transaction, the chief executive officer now owns 397,687 shares of the company’s stock, valued at €18,094,758.50 ($20,105,287.22). The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William C. Rusnack sold 2,169 shares of Flowserve Corp. stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of €46.72 ($51.91), for a total value of €101,335.68 ($112,595.20). Following the transaction, the director now directly owns 2,783 shares in the company, valued at approximately €130,021.76 ($144,468.62). The disclosure for this sale can be found here. 0.95% of the stock is owned by company insiders.
Flowserve Corp. Company Profile
Flowserve Corporation is a manufacturer and aftermarket service provider of flow control systems. The Company operates through three segments: Engineered Product Division (EPD), Industrial Product Division (IPD) and Flow Control Division (FCD). Its EPD designs, manufactures, distributes and services engineered pumps and pump systems, mechanical seals, auxiliary systems, replacement parts and related equipment.