Teacher Retirement System of Texas boosted its holdings in shares of SPX FLOW, Inc. (NYSE:FLOW) by 17.4% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 5,582 shares of the industrial products company’s stock after buying an additional 826 shares during the quarter. Teacher Retirement System of Texas’ holdings in SPX FLOW were worth $364,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in the stock. Envestnet Asset Management Inc. increased its position in SPX FLOW by 27.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 81,816 shares of the industrial products company’s stock valued at $5,338,000 after buying an additional 17,740 shares in the last quarter. IndexIQ Advisors LLC grew its stake in SPX FLOW by 3.6% during the 2nd quarter. IndexIQ Advisors LLC now owns 6,388 shares of the industrial products company’s stock valued at $417,000 after purchasing an additional 220 shares during the last quarter. Handelsbanken Fonder AB grew its stake in SPX FLOW by 32.5% during the 2nd quarter. Handelsbanken Fonder AB now owns 11,009 shares of the industrial products company’s stock valued at $718,000 after purchasing an additional 2,700 shares during the last quarter. Victory Capital Management Inc. grew its stake in SPX FLOW by 22.2% during the 2nd quarter. Victory Capital Management Inc. now owns 9,605 shares of the industrial products company’s stock valued at $627,000 after purchasing an additional 1,746 shares during the last quarter. Finally, New York State Common Retirement Fund grew its stake in SPX FLOW by 1.3% during the 2nd quarter. New York State Common Retirement Fund now owns 198,887 shares of the industrial products company’s stock valued at $12,975,000 after purchasing an additional 2,464 shares during the last quarter. 94.85% of the stock is currently owned by institutional investors.
Separately, Zacks Investment Research upgraded SPX FLOW from a “hold” rating to a “buy” rating and set a $87.00 target price on the stock in a research note on Tuesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, SPX FLOW presently has a consensus rating of “Hold” and a consensus price target of $71.75.
SPX FLOW (NYSE:FLOW) last released its quarterly earnings results on Wednesday, August 4th. The industrial products company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.04. The company had revenue of $381.60 million during the quarter, compared to analysts’ expectations of $367.19 million. SPX FLOW had a return on equity of 9.29% and a net margin of 4.38%. SPX FLOW’s quarterly revenue was up 23.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.27 EPS. Equities analysts predict that SPX FLOW, Inc. will post 2.81 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 14th. Investors of record on Wednesday, June 30th were issued a $0.09 dividend. The ex-dividend date was Tuesday, June 29th. This represents a $0.36 dividend on an annualized basis and a yield of 0.47%. SPX FLOW’s payout ratio is 24.49%.
SPX FLOW Profile
SPX Flow, Inc engages in manufacturing and distributing industrial components. It operates through the following segments: Food & Beverage and Industrial. The Food and Beverage segment includes mixing, drying, evaporation, and separation systems and components, heat exchangers, and reciprocating and centrifugal pump technologies.
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