JPMorgan Chase & Co. boosted its stake in SPX Flow Inc. (NYSE:FLOW) by 60.6% during the second quarter, Holdings Channel reports. The fund owned 362,940 shares of the company’s stock after buying an additional 136,938 shares during the period. JPMorgan Chase & Co. owned 0.87% of SPX Flow worth $9,462,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FLOW. Aperio Group LLC increased its stake in SPX Flow by 84.6% in the first quarter. Aperio Group LLC now owns 71,822 shares of the company’s stock valued at $1,801,000 after buying an additional 32,911 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp increased its stake in SPX Flow by 806.5% in the second quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp now owns 140,500 shares of the company’s stock valued at $3,663,000 after buying an additional 125,000 shares during the last quarter. Synovus Financial Corp increased its stake in SPX Flow by 0.7% in the second quarter. Synovus Financial Corp now owns 10,713 shares of the company’s stock valued at $281,000 after buying an additional 70 shares during the last quarter. Emerald Acquisition Ltd. acquired a new stake in SPX Flow during the second quarter valued at about $4,374,000. Finally, Strs Ohio acquired a new stake in SPX Flow during the second quarter valued at about $307,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.
Shares of SPX Flow Inc. (NYSE:FLOW) traded down 4.90% on Thursday, hitting $29.11. The stock had a trading volume of 118,000 shares. SPX Flow Inc. has a 52 week low of $14.85 and a 52 week high of $42.06. The stock’s market capitalization is $1.22 billion. The firm has a 50-day moving average price of $29.21 and a 200-day moving average price of $28.08.
SPX Flow (NYSE:FLOW) last announced its earnings results on Wednesday, August 3rd. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.05. The business had revenue of $528.80 million for the quarter, compared to analysts’ expectations of $64.15 million. SPX Flow had a positive return on equity of 8.26% and a negative net margin of 16.41%. The business’s revenue for the quarter was down 14.0% on a year-over-year basis. During the same period last year, the firm posted $1.15 earnings per share. Equities analysts expect that SPX Flow Inc. will post $0.15 earnings per share for the current fiscal year.
Separately, Zacks Investment Research downgraded shares of SPX Flow from a “buy” rating to a “hold” rating in a research report on Tuesday, July 12th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $30.00.
SPX Flow Company Profile
SPX FLOW, Inc is a global supplier of engineered solutions. 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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