Bank of New York Mellon Corp lessened its position in SPX Flow Inc (NYSE:FLOW) by 0.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 489,018 shares of the industrial products company’s stock after selling 4,584 shares during the quarter. Bank of New York Mellon Corp owned 1.15% of SPX Flow worth $21,404,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Squar Milner Financial Services LLC bought a new position in shares of SPX Flow during the second quarter valued at about $134,000. SG Americas Securities LLC bought a new position in shares of SPX Flow during the first quarter valued at about $206,000. Sei Investments Co. grew its stake in shares of SPX Flow by 1,203.0% during the first quarter. Sei Investments Co. now owns 5,147 shares of the industrial products company’s stock valued at $253,000 after buying an additional 4,752 shares during the last quarter. Xact Kapitalforvaltning AB grew its stake in shares of SPX Flow by 24.0% during the first quarter. Xact Kapitalforvaltning AB now owns 6,709 shares of the industrial products company’s stock valued at $330,000 after buying an additional 1,300 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. grew its stake in shares of SPX Flow by 535.7% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,777 shares of the industrial products company’s stock valued at $334,000 after buying an additional 5,711 shares during the last quarter. 87.40% of the stock is currently owned by institutional investors and hedge funds.
SPX Flow stock opened at $49.21 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.52 and a debt-to-equity ratio of 0.83. The stock has a market cap of $2.03 billion, a PE ratio of 38.75, a PEG ratio of 0.49 and a beta of 1.92. SPX Flow Inc has a 1-year low of $35.75 and a 1-year high of $54.92.
SPX Flow (NYSE:FLOW) last posted its earnings results on Wednesday, August 1st. The industrial products company reported $0.54 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.09. The company had revenue of $531.20 million during the quarter, compared to analyst estimates of $516.58 million. SPX Flow had a net margin of 4.01% and a return on equity of 8.55%. SPX Flow’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.24 earnings per share. sell-side analysts predict that SPX Flow Inc will post 2.51 earnings per share for the current year.
FLOW has been the topic of a number of recent research reports. Bank of America raised their price objective on SPX Flow from $32.00 to $48.00 and gave the company an “underperform” rating in a research note on Thursday, August 2nd. Royal Bank of Canada reaffirmed a “hold” rating and set a $45.00 price objective on shares of SPX Flow in a research note on Thursday, August 2nd. Zacks Investment Research raised SPX Flow from a “sell” rating to a “hold” rating and set a $51.00 price objective on the stock in a research note on Friday, August 3rd. ValuEngine cut SPX Flow from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Finally, TheStreet cut SPX Flow from a “b” rating to a “c+” rating in a research note on Monday, July 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $52.71.
SPX Flow Company Profile
SPX FLOW, Inc provides various engineered solutions worldwide. The company engineers, designs, manufactures, and markets products and solutions used to process, blend, filter, dry, meter, and transport fluids with a focus on original equipment installation, including turn-key systems, modular systems, and components, as well as aftermarket components and support services.
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