Investors Buy Shares of FMC Technologies Inc. (FTI) on Weakness
Traders purchased shares of FMC Technologies Inc. (NYSE:FTI) on weakness during trading hours on Monday. $32.52 million flowed into the stock on the tick-up and $9.57 million flowed out of the stock on the tick-down, for a money net flow of $22.95 million into the stock. Of all stocks tracked, FMC Technologies had the 16th highest net in-flow for the day. FMC Technologies traded down ($1.18) for the day and closed at $24.20
A number of analysts have weighed in on the company. Simmons reiterated an “overweight” rating and issued a $29.00 price target (up from $27.00) on shares of FMC Technologies in a research report on Monday, July 25th. Nomura assumed coverage on FMC Technologies in a research report on Friday, April 8th. They issued a “neutral” rating and a $26.00 price target on the stock. Citigroup Inc. reiterated a “neutral” rating and issued a $29.00 price target on shares of FMC Technologies in a research report on Saturday, June 25th. FBR & Co lowered their price target on FMC Technologies from $28.00 to $27.00 and set a “mkt perform” rating on the stock in a research report on Wednesday, July 27th. Finally, Clarkson Capital cut FMC Technologies from a “buy” rating to a “neutral” rating in a research report on Friday, April 22nd. Sixteen equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $31.90.
The stock has a market capitalization of $5.49 billion and a price-to-earnings ratio of 34.67. The stock has a 50-day moving average price of $26.44 and a 200-day moving average price of $26.57.
FMC Technologies (NYSE:FTI) last released its quarterly earnings results on Wednesday, July 20th. The company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by $0.08. During the same quarter in the previous year, the business earned $0.52 EPS. The business earned $1.20 billion during the quarter, compared to analysts’ expectations of $1.26 billion. The company’s revenue was down 32.2% on a year-over-year basis. Analysts anticipate that FMC Technologies Inc. will post $0.95 EPS for the current year.
Other large investors recently added to or reduced their stakes in the company. Sei Investments Co. raised its stake in FMC Technologies by 146.3% in the fourth quarter. Sei Investments Co. now owns 45,936 shares of the company’s stock worth $1,332,000 after buying an additional 27,282 shares during the period. Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its stake in FMC Technologies by 0.6% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 58,859 shares of the company’s stock worth $1,707,000 after buying an additional 338 shares during the period. Aberdeen Asset Management PLC UK raised its stake in FMC Technologies by 53.6% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 58,316 shares of the company’s stock worth $1,908,000 after buying an additional 20,359 shares during the period. Gulf International Bank UK Ltd raised its stake in FMC Technologies by 0.7% in the fourth quarter. Gulf International Bank UK Ltd now owns 68,084 shares of the company’s stock worth $1,975,000 after buying an additional 500 shares during the period. Finally, Marshall Wace LLP bought a new stake in FMC Technologies during the fourth quarter worth approximately $1,990,000.
FMC Technologies, Inc is a global provider of technology solutions for the energy industry. The Company designs, manufactures and services a range of systems and products, including subsea production and processing systems, surface wellhead production systems, high pressure fluid control equipment, measurement solutions and marine loading systems.
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