Flowserve Corp Declares Quarterly Dividend of $0.19 (FLS)

Flowserve Corp (NYSE:FLS) announced a quarterly dividend on Thursday, May 23rd, RTT News reports. Shareholders of record on Friday, June 21st will be paid a dividend of 0.19 per share by the industrial products company on Friday, July 5th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.56%.

Shares of NYSE:FLS traded down $1.17 during trading on Thursday, reaching $48.69. 1,260,205 shares of the company traded hands, compared to its average volume of 1,269,983. The firm has a market capitalization of $6.64 billion, a P/E ratio of 27.82, a price-to-earnings-growth ratio of 1.49 and a beta of 1.66. Flowserve has a 1-year low of $35.88 and a 1-year high of $56.86. The company has a quick ratio of 1.57, a current ratio of 2.17 and a debt-to-equity ratio of 0.91.

Flowserve (NYSE:FLS) last issued its earnings results on Thursday, May 2nd. The industrial products company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.07. The company had revenue of $890.05 million during the quarter, compared to analyst estimates of $943.79 million. Flowserve had a net margin of 4.25% and a return on equity of 13.46%. The company’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter last year, the business posted $0.27 EPS. Equities research analysts expect that Flowserve will post 2.19 earnings per share for the current fiscal year.

A number of research firms have recently weighed in on FLS. ValuEngine upgraded shares of Flowserve from a “hold” rating to a “buy” rating in a report on Friday, February 15th. TheStreet upgraded shares of Flowserve from a “c” rating to a “b-” rating in a report on Wednesday, February 27th. Finally, Zacks Investment Research downgraded shares of Flowserve from a “hold” rating to a “sell” rating in a report on Tuesday, March 19th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $49.69.

In other news, insider John Lenander sold 6,818 shares of Flowserve stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $44.75, for a total transaction of $305,105.50. Following the sale, the insider now directly owns 22,130 shares in the company, valued at approximately $990,317.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.36% of the stock is currently owned by insiders.

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Flowserve Company Profile

Flowserve Corporation designs, develops, manufactures, distributes, and services industrial flow management equipment in the United States, Europe, the Middle East, Africa, Asia, and internationally. The company operates through three segments: Engineered Product Division (EPD), Industrial Product Division (IPD), and Flow Control Division (FCD).

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Dividend History for Flowserve (NYSE:FLS)

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