Ameriprise Financial Inc. Acquires 4,688 Shares of SPX Flow Inc. (FLOW)
Ameriprise Financial Inc. raised its position in SPX Flow Inc. (NYSE:FLOW) by 2.1% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 225,504 shares of the company’s stock after buying an additional 4,688 shares during the period. Ameriprise Financial Inc. owned approximately 0.54% of SPX Flow worth $5,878,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the company. Financial Architects Inc boosted its stake in SPX Flow by 3,795.9% in the second quarter. Financial Architects Inc now owns 9,545 shares of the company’s stock valued at $249,000 after buying an additional 9,300 shares during the period. Synovus Financial Corp boosted 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 period. Pacad Investment Ltd. boosted its stake in SPX Flow by 39.7% in the first quarter. Pacad Investment Ltd. now owns 11,599 shares of the company’s stock valued at $291,000 after buying an additional 3,299 shares during the period. Strs Ohio purchased a new stake in SPX Flow during the second quarter valued at approximately $307,000. Finally, Airain ltd purchased a new stake in SPX Flow during the second quarter valued at approximately $341,000. Hedge funds and other institutional investors own 83.41% of the company’s stock.
SPX Flow Inc. (NYSE:FLOW) traded down 1.85% during trading on Wednesday, reaching $27.12. 78,391 shares of the company’s stock traded hands. SPX Flow Inc. has a 12 month low of $14.85 and a 12 month high of $38.40. The stock’s market capitalization is $1.13 billion. The company has a 50-day moving average of $29.27 and a 200 day moving average of $28.15.
SPX Flow (NYSE:FLOW) last issued its earnings results on Wednesday, August 3rd. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.41 by $0.05. The firm earned $528.80 million during 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%. SPX Flow’s quarterly revenue was down 14.0% compared to the same quarter last year. During the same period last year, the business earned $1.15 earnings per share. On average, equities research analysts expect that SPX Flow Inc. will post $0.15 earnings per share for the current fiscal year.
Separately, Zacks Investment Research upgraded shares of SPX Flow from a “sell” rating to a “hold” rating in a research note on Thursday, August 4th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target 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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