Flowserve Corporation (NYSE:FLS) was the recipient of some unusual options trading activity on Thursday. Investors bought 1,031 put options on the company. This is an increase of approximately Infinity compared to the average daily volume of 0 put options.

A number of hedge funds have recently modified their holdings of the stock. Gateway Investment Advisers LLC increased its holdings in Flowserve Corporation by 0.3% during the second quarter. Gateway Investment Advisers LLC now owns 10,566 shares of the industrial products company’s stock valued at $491,000 after buying an additional 30 shares during the period. CIBC Asset Management Inc increased its holdings in Flowserve Corporation by 0.3% during the second quarter. CIBC Asset Management Inc now owns 13,385 shares of the industrial products company’s stock valued at $621,000 after buying an additional 46 shares during the period. Federated Investors Inc. PA increased its holdings in Flowserve Corporation by 1.8% during the second quarter. Federated Investors Inc. PA now owns 2,539 shares of the industrial products company’s stock valued at $118,000 after buying an additional 46 shares during the period. Sentry Investment Management LLC increased its holdings in Flowserve Corporation by 1.0% during the second quarter. Sentry Investment Management LLC now owns 9,306 shares of the industrial products company’s stock valued at $432,000 after buying an additional 89 shares during the period. Finally, Cullinan Associates Inc. increased its holdings in Flowserve Corporation by 0.5% during the second quarter. Cullinan Associates Inc. now owns 22,050 shares of the industrial products company’s stock valued at $1,024,000 after buying an additional 100 shares during the period.

Flowserve Corporation (NYSE FLS) opened at $39.25 on Friday. The firm has a market cap of $5,127.42, a PE ratio of 25.16, a P/E/G ratio of 2.60 and a beta of 1.55. The company has a current ratio of 2.12, a quick ratio of 1.29 and a debt-to-equity ratio of 0.85.

Flowserve Corporation (NYSE:FLS) last issued its quarterly earnings data on Wednesday, November 1st. The industrial products company reported $0.37 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.03. The company had revenue of $883.38 million for the quarter, compared to analyst estimates of $871.20 million. Flowserve Corporation had a net margin of 4.58% and a return on equity of 12.09%. Flowserve Corporation’s revenue was down 6.6% compared to the same quarter last year. During the same period last year, the company posted $0.52 earnings per share. analysts anticipate that Flowserve Corporation will post 1.36 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 6th. Investors of record on Friday, September 22nd were issued a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend was Thursday, September 21st. Flowserve Corporation’s payout ratio is 58.92%.

Several analysts have issued reports on FLS shares. Zacks Investment Research downgraded shares of Flowserve Corporation from a “hold” rating to a “sell” rating in a research note on Monday, July 10th. Citigroup Inc. reissued a “neutral” rating and issued a $51.00 price objective (down previously from $54.00) on shares of Flowserve Corporation in a research note on Monday, July 10th. Wolfe Research started coverage on shares of Flowserve Corporation in a research note on Tuesday, July 11th. They issued an “underperform” rating and a $38.00 price objective for the company. Jefferies Group LLC reissued a “buy” rating and issued a $50.00 price objective on shares of Flowserve Corporation in a research note on Friday, July 14th. Finally, BidaskClub downgraded shares of Flowserve Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. Flowserve Corporation currently has an average rating of “Hold” and an average target price of $44.27.

COPYRIGHT VIOLATION NOTICE: “Flowserve Corporation Sees Unusually High Options Volume (FLS)” was first reported by American Banking News and is the sole property of of American Banking News. If you are viewing this article on another publication, it was illegally stolen and reposted in violation of United States and international trademark & copyright laws. The legal version of this article can be read at https://www.americanbankingnews.com/2017/11/05/flowserve-corporation-sees-unusually-high-options-volume-fls.html.

Flowserve Corporation Company Profile

Flowserve Corporation is a manufacturer and aftermarket service provider of flow control systems. The Company’s segments include Engineered Product Division, Industrial Product Division and Flow Control Division. Its geographic segments include North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

Receive News & Ratings for Flowserve Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Flowserve Corporation and related companies with MarketBeat.com's FREE daily email newsletter.