Industrials
4 Top Dividend Industrial Stocks to Buy for a Weaker Dollar
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After an extended run higher that lasted over a year, it’s starting to look like the move higher for the U.S. dollar may be just about over. With a very dovish Federal Reserve talking the dollar down, and looking to hold rates until June at the earliest, dollar bulls have been rushing to get out of the trade that was a big winner for a long time.
A recent Jefferies research report noted that in March, the Diffusion Index that attempts to predict economic growth showed one of the biggest positive turns in the years they have been monitoring it. The report also had a list of industrial stocks that will benefit from a weaker dollar. We found four that also pay solid dividends.
Flowserve
This company will also get a boost from an improving economy. Flowserve Corp. (NYSE: FLS) designs, manufactures, distributes and services industrial flow management equipment worldwide. The company operates through three segments. The Engineered Product Division offers custom and other engineered pumps and pump systems, mechanical seals, auxiliary systems, replacement parts and related services, as well as manufactures gas-lubricated mechanical seals used in high-speed compressors.
The Industrial Product Division provides preconfigured engineered pumps and pump systems and related products and services, including submersible motors and specialty products. The Flow Control Division offers industrial valve and automation solutions comprising isolation and control valves, actuation, controls and related equipment, as well as energy management products, such as steam traps, boiler controls and condensate, and energy recovery systems.
Flowserve investors receive a 1.65% dividend. The Thomson/First Call consensus price target for the stock is $41.88. Shares closed way above that level Monday at $46.15.
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