FLS - Flowserve ticks higher on activist speculation

Flowserve (NYSE:FLS) rose almost 1% after some speculation earlier that the the company could attract an activist, especially after news that its flow control Peer Crane (CR) was separating into two companies. Flowserve could be viewed as an activist candidate due to the company's lagging margins, Dealreporter speculated in an item earlier. The company's shares have underperformed the S&P 500 and the S&P 500 Industrial Machinery Index over the past one, three and five-year periods. Crane earlier announced it will retain the aerospace and electronics business as well as its process-flow technologies unit, while the payment and merchandising technologies business will be spun off to form a new company called Crane NXT. Dealreporter highlighted that the Flowserve's (FLS) board director nomination deadline has passed without an activist showing up at the company. Last month,  Flowserve Q4 Non-GAAP EPS of $0.45 missed by $0.03, revenue of $919.5M missed by $36.58M.

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Flowserve ticks higher on activist speculation