Ionic Capital Management LLC Sells 8,000 Shares of Flowserve Corporation $FLS

Ionic Capital Management LLC trimmed its holdings in shares of Flowserve Corporation (NYSE:FLS) by 22.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 27,000 shares of the industrial products company’s stock after selling 8,000 shares during the period. Flowserve makes up 0.2% of Ionic Capital Management LLC’s investment portfolio, making the stock its 22nd largest position. Ionic Capital Management LLC’s holdings in Flowserve were worth $1,873,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of FLS. BOKF NA bought a new position in Flowserve in the 3rd quarter valued at $28,000. Atlas Capital Advisors Inc. bought a new stake in shares of Flowserve during the 4th quarter worth $36,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Flowserve during the 3rd quarter worth $36,000. IFP Advisors Inc boosted its holdings in shares of Flowserve by 24.4% in the 3rd quarter. IFP Advisors Inc now owns 830 shares of the industrial products company’s stock worth $46,000 after buying an additional 163 shares during the last quarter. Finally, Parallel Advisors LLC boosted its holdings in shares of Flowserve by 20.1% in the 3rd quarter. Parallel Advisors LLC now owns 968 shares of the industrial products company’s stock worth $51,000 after buying an additional 162 shares during the last quarter. 93.93% of the stock is currently owned by institutional investors.

Insider Transactions at Flowserve

In related news, Director Brian D. Savoy bought 1,000 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was acquired at an average price of $67.34 per share, for a total transaction of $67,340.00. Following the purchase, the director directly owned 1,000 shares in the company, valued at $67,340. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.71% of the company’s stock.

Analyst Ratings Changes

FLS has been the subject of a number of research analyst reports. Wall Street Zen downgraded shares of Flowserve from a “buy” rating to a “hold” rating in a report on Saturday, April 25th. Jefferies Financial Group reiterated a “buy” rating and issued a $90.00 target price (down from $100.00) on shares of Flowserve in a research note on Tuesday, March 31st. Stifel Nicolaus set a $92.00 target price on shares of Flowserve in a research report on Friday, May 1st. Weiss Ratings lowered shares of Flowserve from a “buy (b)” rating to a “buy (b-)” rating in a research note on Friday, May 15th. Finally, Citigroup reiterated a “buy” rating on shares of Flowserve in a research note on Thursday, April 30th. Eight investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $87.70.

Flowserve Stock Down 1.9%

Flowserve stock opened at $79.00 on Thursday. The firm has a 50 day simple moving average of $76.09 and a 200 day simple moving average of $76.63. The company has a current ratio of 2.22, a quick ratio of 1.63 and a debt-to-equity ratio of 0.73. Flowserve Corporation has a 1-year low of $45.11 and a 1-year high of $92.41. The firm has a market capitalization of $10.10 billion, a price-to-earnings ratio of 29.26, a P/E/G ratio of 1.81 and a beta of 1.22.

Flowserve (NYSE:FLS) last posted its earnings results on Wednesday, April 29th. The industrial products company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.03. Flowserve had a return on equity of 21.46% and a net margin of 7.61%.The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.17 billion. During the same quarter in the prior year, the business posted $0.72 earnings per share. The business’s quarterly revenue was down 6.7% on a year-over-year basis. Flowserve has set its FY 2026 guidance at 4.000-4.200 EPS. On average, analysts predict that Flowserve Corporation will post 4.05 earnings per share for the current year.

Flowserve Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Friday, June 26th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, June 26th. This represents a $0.88 dividend on an annualized basis and a yield of 1.1%. Flowserve’s dividend payout ratio is 32.59%.

About Flowserve

Flowserve Corporation (NYSE: FLS) is a leading provider of fluid motion and control products and services. The company designs, manufactures and services engineered and industrial pumps, mechanical seals, valves and related flow management equipment. Flowserve’s offerings are utilized across a broad spectrum of end markets, including oil and gas, power generation, chemical processing, water management, pharmaceutical and semiconductor manufacturing, as well as mining and general industrial applications.

Flowserve’s product portfolio encompasses a wide range of centrifugal and positive displacement pumps, high-performance control valves, butterfly and ball valves, as well as mechanical seals and seal support systems.