Comerica Bank reduced its stake in SPX Flow Inc (NYSE:FLOW) by 8.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,174 shares of the industrial products company’s stock after selling 3,721 shares during the period. Comerica Bank owned approximately 0.10% of SPX Flow worth $1,641,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Russell Investments Group Ltd. raised its stake in shares of SPX Flow by 205.2% in the second quarter. Russell Investments Group Ltd. now owns 4,300 shares of the industrial products company’s stock valued at $188,000 after acquiring an additional 2,891 shares in the last quarter. Aristotle Atlantic Partners LLC raised its stake in shares of SPX Flow by 42.9% in the second quarter. Aristotle Atlantic Partners LLC now owns 6,042 shares of the industrial products company’s stock valued at $264,000 after acquiring an additional 1,813 shares in the last quarter. Sei Investments Co. raised its stake in shares of SPX Flow by 21.4% in the second quarter. Sei Investments Co. now owns 6,249 shares of the industrial products company’s stock valued at $274,000 after acquiring an additional 1,102 shares in the last quarter. First Trust Advisors LP acquired a new stake in shares of SPX Flow in the second quarter valued at $339,000. Finally, Brand Asset Management Group Inc. acquired a new stake in shares of SPX Flow in the second quarter valued at $344,000. Institutional investors and hedge funds own 86.80% of the company’s stock.
Several research firms recently commented on FLOW. TheStreet raised SPX Flow from a “c+” rating to a “b” rating in a report on Friday, August 31st. ValuEngine raised SPX Flow from a “sell” rating to a “hold” rating in a report on Wednesday, November 28th. Zacks Investment Research lowered SPX Flow from a “buy” rating to a “hold” rating in a report on Friday, August 10th. Seaport Global Securities set a $45.00 target price on SPX Flow and gave the company a “buy” rating in a report on Wednesday, October 31st. Finally, Barclays dropped their target price on SPX Flow from $46.00 to $42.00 and set an “equal weight” rating on the stock in a report on Thursday, November 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $50.00.
Shares of FLOW stock opened at $37.53 on Monday. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of 29.55, a PEG ratio of 0.41 and a beta of 2.42. SPX Flow Inc has a 1 year low of $33.85 and a 1 year high of $54.92. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.12 and a current ratio of 1.62.
SPX Flow (NYSE:FLOW) last issued its quarterly earnings data on Tuesday, October 30th. The industrial products company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.14. The company had revenue of $530.30 million for the quarter, compared to analyst estimates of $521.01 million. SPX Flow had a return on equity of 9.59% and a net margin of 4.89%. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.42 earnings per share. Analysts predict that SPX Flow Inc will post 2.28 earnings per share for the current year.
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SPX Flow 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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