BlackRock Inc. grew its stake in SPX Flow Inc (NYSE:FLOW) by 3.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,315,803 shares of the industrial products company’s stock after purchasing an additional 176,983 shares during the quarter. BlackRock Inc. owned about 12.51% of SPX Flow worth $252,767,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Rice Hall James & Associates LLC raised its holdings in SPX Flow by 16.5% in the 4th quarter. Rice Hall James & Associates LLC now owns 525,644 shares of the industrial products company’s stock worth $24,994,000 after purchasing an additional 74,611 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in SPX Flow by 0.4% in the 4th quarter. Bank of New York Mellon Corp now owns 471,246 shares of the industrial products company’s stock worth $22,408,000 after purchasing an additional 1,890 shares in the last quarter. Mesirow Financial Investment Management Equity Management bought a new position in SPX Flow in the 4th quarter worth $21,587,000. Schwab Charles Investment Management Inc. raised its holdings in SPX Flow by 3.0% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 388,651 shares of the industrial products company’s stock worth $18,481,000 after purchasing an additional 11,173 shares in the last quarter. Finally, Spitfire Capital LLC raised its holdings in SPX Flow by 3.5% in the 3rd quarter. Spitfire Capital LLC now owns 263,984 shares of the industrial products company’s stock worth $10,179,000 after purchasing an additional 8,884 shares in the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.
SPX Flow Inc (FLOW) opened at $53.94 on Tuesday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.55 and a quick ratio of 1.11. The stock has a market cap of $2,259.34, a PE ratio of 49.94, a P/E/G ratio of 0.54 and a beta of 2.05. SPX Flow Inc has a 12 month low of $31.10 and a 12 month high of $54.04.
FLOW has been the subject of several research reports. Stifel Nicolaus restated a “buy” rating and issued a $62.00 price objective (up from $55.00) on shares of SPX Flow in a report on Tuesday, January 16th. Zacks Investment Research upgraded shares of SPX Flow from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a report on Tuesday, January 23rd. Barclays initiated coverage on shares of SPX Flow in a report on Thursday, February 15th. They issued an “equal weight” rating and a $50.00 price objective for the company. Royal Bank of Canada restated a “hold” rating and issued a $50.00 price objective on shares of SPX Flow in a report on Wednesday, February 7th. Finally, UBS Group lowered shares of SPX Flow from a “buy” rating to a “neutral” rating and set a $51.00 price objective for the company. in a report on Monday, January 22nd. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $50.00.
In related news, VP Jaime Manson Easley sold 4,665 shares of the stock in a transaction dated Tuesday, March 6th. The shares were sold at an average price of $48.78, for a total value of $227,558.70. Following the completion of the transaction, the vice president now directly owns 10,184 shares in the company, valued at approximately $496,775.52. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.00% of the stock is owned by company insiders.
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SPX Flow Profile
SPX FLOW, Inc is a global supplier of engineered solutions. As of December 31, 2016, the Company had operations in over 30 countries and sales in over 150 countries around the world. The Company operates in three business segments: Food and Beverage, Power and Energy, and Industrial. Its product portfolio of pumps, valves, mixers, filters, air dryers, hydraulic tools, homogenizers, separators and heat exchangers, along with the related aftermarket parts and services, supports global industries, including food and beverage, oil and gas, power generation, chemical processing, compressed air and mining.
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