American Century Companies Inc. Invests $2.70 Million in SPX Flow Inc (FLOW) Stock
American Century Companies Inc. purchased a new stake in SPX Flow Inc (NYSE:FLOW) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 61,715 shares of the industrial products company’s stock, valued at approximately $2,701,000. American Century Companies Inc. owned approximately 0.15% of SPX Flow at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Brand Asset Management Group Inc. acquired a new position in shares of SPX Flow during the second quarter valued at $344,000. Schwab Charles Investment Management Inc. lifted its stake in shares of SPX Flow by 12.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 439,611 shares of the industrial products company’s stock valued at $19,242,000 after acquiring an additional 48,615 shares during the period. Bailard Inc. lifted its stake in shares of SPX Flow by 52.7% during the second quarter. Bailard Inc. now owns 13,900 shares of the industrial products company’s stock valued at $608,000 after acquiring an additional 4,800 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of SPX Flow by 205.2% during 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 during the period. Finally, SG Americas Securities LLC increased its holdings in SPX Flow by 280.3% in the second quarter. SG Americas Securities LLC now owns 15,956 shares of the industrial products company’s stock valued at $698,000 after purchasing an additional 11,760 shares during the last quarter. 87.40% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently commented on the company. Zacks Investment Research downgraded SPX Flow from a “hold” rating to a “sell” rating in a report on Saturday, July 14th. Bank of America upped their price objective on SPX Flow from $32.00 to $48.00 and gave the company an “underperform” rating in a report on Thursday, August 2nd. Wolfe Research assumed coverage on SPX Flow in a report on Wednesday, June 27th. They issued a “market perform” rating for the company. ValuEngine upgraded SPX Flow from a “hold” rating to a “buy” rating in a report on Wednesday, July 25th. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $45.00 price objective on shares of SPX Flow in a report on Thursday, August 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $52.57.
SPX Flow (NYSE:FLOW) last released its quarterly earnings data on Wednesday, August 1st. The industrial products company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.09. The business had revenue of $531.20 million during the quarter, compared to the consensus estimate of $516.58 million. SPX Flow had a return on equity of 8.55% and a net margin of 4.01%. The firm’s revenue was up 6.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.24 earnings per share. equities research analysts predict that SPX Flow Inc will post 2.51 EPS for the current year.
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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