Shares of newly independent services company Apergy Corp. rose 13% on May
9, its first day of trading on the NYSE, giving it a market value about $3.2 billion.
Apergy is the result of the industrial machinery company Dover Corp.’s spinoff of
its energy business. The businesses that make up Apergy produced
$1.0 billion in sales
during 2017 as part of Dover, and Apergy
expects to increase sales by 16% this year.
The company’s strength is its full suite of artificial......
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