Steven Cohen (Trades, Portfolio) of Point72 Asset Management has added to his position in SPX Corp. (SPW, Financial). Cohen is the lead portfolio manager for Point72 Asset Management which focuses on a long/short equity investment approach for the management of its portfolio. The Point72 Asset Management fund had 673 equity holdings as of March 31, 2015 with a total equity value of $14.67 billion.
On July 1 Cohen added 1,589,899 shares of SPX Corp. to the portfolio increasing his stake in the stock to 2,075,499 shares and bringing the total percentage in the portfolio to 1.01%. SPX Corp. is a manufacturer of engineering supply solutions for companies in the food and beverage, energy and industrial flow markets. It operates in the industrials sector and has a market capitalization of approximately $2.9 billion. Cohen’s increased position in SPX Corp. brings the total portfolio’s allocation to industrials to approximately 14%.
SPX Corp. currently has a stock value of $71.62. Since the beginning of the year its price has fluctuated between $68.63 and $90.43. Year-to-date the stock is down 16.64%.
In its most recent earnings report SPX Corp. reported revenue of $0.95 billion with consolidated segment income of $75.5 million and negative earnings per share of $0.17.
