Entropy Technologies LP Acquires 6,798 Shares of Flowserve Co. (NYSE:FLS)

Entropy Technologies LP raised its holdings in Flowserve Co. (NYSE:FLS - Free Report) by 27.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,464 shares of the industrial products company's stock after buying an additional 6,798 shares during the period. Entropy Technologies LP's holdings in Flowserve were worth $1,810,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of FLS. State Street Corp increased its stake in shares of Flowserve by 1.0% during the third quarter. State Street Corp now owns 3,886,111 shares of the industrial products company's stock worth $201,685,000 after purchasing an additional 37,132 shares during the period. Thrivent Financial for Lutherans increased its stake in shares of Flowserve by 1.7% during the third quarter. Thrivent Financial for Lutherans now owns 2,603,528 shares of the industrial products company's stock worth $134,577,000 after purchasing an additional 44,039 shares during the period. Geode Capital Management LLC increased its stake in shares of Flowserve by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,201,993 shares of the industrial products company's stock worth $113,851,000 after purchasing an additional 23,529 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Flowserve by 0.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,755,881 shares of the industrial products company's stock worth $90,761,000 after purchasing an additional 4,414 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Flowserve by 34.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,664,825 shares of the industrial products company's stock worth $86,055,000 after purchasing an additional 422,141 shares during the period. Institutional investors own 93.93% of the company's stock.

Flowserve Price Performance

Shares of FLS stock traded up $0.67 during trading hours on Thursday, reaching $62.67. The company's stock had a trading volume of 1,004,577 shares, compared to its average volume of 1,208,379. The firm's 50 day simple moving average is $60.67 and its 200-day simple moving average is $55.25. The company has a market capitalization of $8.23 billion, a price-to-earnings ratio of 31.02, a PEG ratio of 1.29 and a beta of 1.42. Flowserve Co. has a fifty-two week low of $41.46 and a fifty-two week high of $65.08. The company has a quick ratio of 1.39, a current ratio of 1.99 and a debt-to-equity ratio of 0.56.

Flowserve Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Friday, December 27th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 1.34%. The ex-dividend date was Friday, December 27th. Flowserve's dividend payout ratio (DPR) is 41.58%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on FLS. Stifel Nicolaus increased their target price on Flowserve from $72.00 to $75.00 and gave the stock a "buy" rating in a research note on Friday, January 24th. Citigroup lowered their price objective on Flowserve from $73.00 to $72.00 and set a "buy" rating on the stock in a research note on Monday, January 13th. Jefferies Financial Group started coverage on Flowserve in a research note on Friday, October 18th. They set a "buy" rating and a $65.00 price objective on the stock. Robert W. Baird raised their price objective on Flowserve from $65.00 to $66.00 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. Finally, StockNews.com lowered Flowserve from a "strong-buy" rating to a "buy" rating in a research note on Friday, December 27th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $67.50.

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.