Shares of Flowserve Corporation (FLS) Sees Large Outflow of Money

Flowserve Corporation (FLS) : Wednesdays money flow analysis of Flowserve Corporation (FLS) indicates the selling of stock on the strength of price. The investors sold the stock on every rise as seen in the downtick transactions of $24.64 million. In comparison, the inflow of money on upticks was a meager $9.67 million. The dollar value of composite uptick trades minus the downtick trades was negative $14.97 million. The uptick to downtick ratio of 0.39 in the money flow shows weakness. The downtick transaction value was high at $15.86 million, which denotes distribution on strength.. Hence, the net money flow in the stock was negative ($15.86 million). Flowserve Corporation (FLS) gained $0.44 at $47.93, a change of 0.93% over the previous days close.


Also, KeyBanc initiates coverage on Flowserve Corporation (NYSE:FLS). The rating major has initiated the coverage with sector weight rating on the shares. The rating by the firm was issued on May 10, 2016.

Flowserve Corporation (NYSE:FLS): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $47.46 and $46.78 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $48.21. The buying momentum continued till the end and the stock did not give up its gains. It closed at $47.93, notching a gain of 0.93% for the day. The total traded volume was 1,498,650 . The stock had closed at $47.49 on the previous day.

The stock has recorded a 20-day Moving Average of 2.98% and the 50-Day Moving Average is 0.98%. In a related news, Gillespie Keith E., officer (Chief Strategy & Admin Officer) of Flowserve Corp had purchased 10,719 shares on August 6, 2015 in a transaction. The price per share was $46.6 and the total amount of the disclosed transaction was $499,505.The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing. This information is based on open market transaction at the market prices.

Flowserve Corporation is a manufacturer and aftermarket service provider of flow control systems. The Company develops and manufactures precision-engineered flow control equipment integral to the movement, control and protection of the flow of materials. The Company operates through three segments: Engineered Product Division (EPD), Industrial Product Division (IPD) and Flow Control Division (FCD). Its EPD designs, manufactures, distributes and services engineered pumps and pump systems, mechanical seals, auxiliary systems, replacement parts and related equipment. Its IPD designs, manufactures, distributes and services pre-configured engineered pumps and pump systems, including submersible motors, for industrial markets. The Companys FCD designs, manufactures, distributes and services a portfolio of industrial valve and automation solutions, including isolation and control valves, actuation, controls and related equipment.

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