Federal-Mogul Holdings Corp. (FDML) Sees Unusually-High Trading Volume
Federal-Mogul Holdings Corp. (NASDAQ:FDML) saw an uptick in trading volume on Friday . 174,875 shares changed hands during trading, a decline of 24% from the previous session’s volume of 231,591 shares.The stock last traded at $8.53 and had previously closed at $8.32.
A number of research analysts have weighed in on the company. TheStreet upgraded Federal-Mogul Holdings Corp. from a “sell” rating to a “hold” rating in a report on Thursday, March 24th. Zacks Investment Research lowered Federal-Mogul Holdings Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, May 4th. Finally, FBR & Co raised their price objective on Federal-Mogul Holdings Corp. from $7.00 to $8.00 and gave the company a “mkt perform” rating in a report on Tuesday, June 21st. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $9.92.
The firm has a 50 day moving average of $8.39 and a 200-day moving average of $7.54. The firm’s market capitalization is $1.50 billion.
Federal-Mogul Holdings Corp. (NASDAQ:FDML) last released its earnings results on Wednesday, April 27th. The company reported $0.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.27 by $0.04. During the same quarter last year, the company posted $0.25 earnings per share. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.89 billion. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. On average, equities analysts forecast that Federal-Mogul Holdings Corp. will post $1.10 EPS for the current year.
Other institutional investors have added to or reduced their stakes in the company. Morgan Stanley increased its position in Federal-Mogul Holdings Corp. by 21.4% in the fourth quarter. Morgan Stanley now owns 243,531 shares of the company’s stock valued at $1,668,000 after buying an additional 42,882 shares during the period. Gabelli Funds LLC increased its position in Federal-Mogul Holdings Corp. by 3.5% in the fourth quarter. Gabelli Funds LLC now owns 1,917,375 shares of the company’s stock worth $13,134,000 after buying an additional 65,540 shares during the period. Teton Advisors Inc. increased its position in Federal-Mogul Holdings Corp. by 2.9% in the fourth quarter. Teton Advisors Inc. now owns 280,047 shares of the company’s stock worth $1,918,000 after buying an additional 8,000 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its position in Federal-Mogul Holdings Corp. by 52.8% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 244,555 shares of the company’s stock worth $1,676,000 after buying an additional 84,555 shares during the period.
Federal-Mogul Holdings Corp, formerly Federal-Mogul Corporation, is a global supplier of technology and innovation in vehicle and industrial products for fuel economy, emissions reduction and safety systems. The Company serves original equipment manufacturers (OEM) and servicers (OES) (collectively OE) of automotive, light, medium and heavy-duty commercial vehicles, off-road, agricultural, marine, rail, aerospace, power generation and industrial equipment, as well as the worldwide aftermarket.
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