BlackRock Inc. Buys 386,557 Shares of SPX Flow Inc (NYSE:FLOW)

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BlackRock Inc. grew its stake in SPX Flow Inc (NYSE:FLOW) by 7.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,768,196 shares of the industrial products company’s stock after purchasing an additional 386,557 shares during the period. BlackRock Inc. owned approximately 13.56% of SPX Flow worth $252,473,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Millennium Management LLC increased its holdings in SPX Flow by 2,103.6% during the 1st quarter. Millennium Management LLC now owns 288,585 shares of the industrial products company’s stock worth $14,195,000 after purchasing an additional 275,489 shares during the period. JPMorgan Chase & Co. increased its holdings in SPX Flow by 211.0% during the 1st quarter. JPMorgan Chase & Co. now owns 333,613 shares of the industrial products company’s stock worth $16,410,000 after purchasing an additional 226,325 shares during the period. Royal Bank of Canada increased its holdings in SPX Flow by 11,207.8% during the 1st quarter. Royal Bank of Canada now owns 179,455 shares of the industrial products company’s stock worth $8,827,000 after purchasing an additional 177,868 shares during the period. Robecosam AG purchased a new position in SPX Flow during the 2nd quarter worth $5,788,000. Finally, Northpointe Capital LLC purchased a new position in SPX Flow during the 2nd quarter worth $3,923,000. 87.39% of the stock is owned by institutional investors and hedge funds.

Shares of FLOW stock traded down $0.37 on Friday, hitting $42.80. The company had a trading volume of 184,516 shares, compared to its average volume of 244,603. The stock has a market cap of $2.21 billion, a PE ratio of 33.70, a price-to-earnings-growth ratio of 0.53 and a beta of 1.89. The company has a quick ratio of 1.04, a current ratio of 1.52 and a debt-to-equity ratio of 0.83. SPX Flow Inc has a twelve month low of $38.95 and a twelve month high of $54.92.

SPX Flow (NYSE:FLOW) last issued its quarterly earnings data on Wednesday, August 1st. The industrial products company reported $0.54 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.09. The business had revenue of $531.20 million during the quarter, compared to analysts’ expectations of $516.58 million. SPX Flow had a return on equity of 8.55% and a net margin of 4.01%. The company’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.24 EPS. Sell-side analysts anticipate that SPX Flow Inc will post 2.51 earnings per share for the current fiscal year.

A number of brokerages have recently issued reports on FLOW. Zacks Investment Research upgraded SPX Flow from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a report on Monday, August 13th. Buckingham Research began coverage on SPX Flow in a report on Tuesday, September 18th. They issued a “buy” rating and a $60.00 price target on the stock. ValuEngine upgraded SPX Flow from a “hold” rating to a “buy” rating in a report on Saturday, August 18th. TheStreet upgraded SPX Flow from a “c+” rating to a “b” rating in a report on Friday, August 31st. Finally, Royal Bank of Canada reissued a “hold” rating and issued a $45.00 price objective on shares of SPX Flow in a research report on Thursday, August 2nd. One equities 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 company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $53.63.

About SPX Flow

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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Institutional Ownership by Quarter for SPX Flow (NYSE:FLOW)

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