Cramer Rosenthal Mcglynn LLC cut its stake in SPX Flow Inc (NYSE:FLOW) by 7.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 729,409 shares of the industrial products company’s stock after selling 56,143 shares during the period. Cramer Rosenthal Mcglynn LLC owned about 1.72% of SPX Flow worth $34,683,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FLOW. Amundi Pioneer Asset Management Inc. bought a new stake in SPX Flow during the 4th quarter worth approximately $202,000. CIBC Asset Management Inc bought a new stake in SPX Flow during the 4th quarter worth approximately $254,000. Aristotle Atlantic Partners LLC bought a new stake in SPX Flow during the 4th quarter worth approximately $488,000. Teacher Retirement System of Texas bought a new stake in SPX Flow during the 4th quarter worth approximately $673,000. Finally, Louisiana State Employees Retirement System grew its position in SPX Flow by 6.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 18,200 shares of the industrial products company’s stock worth $865,000 after acquiring an additional 1,100 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.
A number of research firms recently commented on FLOW. Barclays began coverage on SPX Flow in a research report on Thursday, February 15th. They set an “equal weight” rating and a $50.00 price target on the stock. Stifel Nicolaus decreased their price target on SPX Flow from $62.00 to $60.00 and set a “buy” rating on the stock in a research report on Wednesday, February 7th. Robert W. Baird increased their price target on SPX Flow from $52.00 to $54.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 7th. Royal Bank of Canada restated a “hold” rating and set a $50.00 price target on shares of SPX Flow in a research report on Wednesday, February 7th. Finally, Zacks Investment Research upgraded SPX Flow from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Tuesday, January 23rd. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $50.00.
SPX Flow (NYSE:FLOW) last announced its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $0.52 EPS for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.02. The firm had revenue of $529.20 million for the quarter, compared to analyst estimates of $515.37 million. SPX Flow had a return on equity of 6.13% and a net margin of 2.38%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period last year, the company earned $0.46 EPS. equities research analysts predict that SPX Flow Inc will post 2.47 earnings per share for the current fiscal year.
In other SPX Flow news, VP Jaime Manson Easley sold 4,665 shares of the stock in a transaction on Tuesday, March 6th. The stock was sold at an average price of $48.78, for a total value of $227,558.70. Following 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 filing with the Securities & Exchange Commission, which can be accessed through this link. 3.00% of the stock is currently owned by company insiders.
SPX Flow Company 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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