Traders Sell Shares of FMC Technologies Inc. (FTI) on Strength (FTI)
Traders sold shares of FMC Technologies Inc. (NYSE:FTI) on strength during trading hours on Tuesday. $14.01 million flowed into the stock on the tick-up and $39.68 million flowed out of the stock on the tick-down, for a money net flow of $25.67 million out of the stock. Of all stocks tracked, FMC Technologies had the 0th highest net out-flow for the day. FMC Technologies traded up $0.26 for the day and closed at $26.28
A number of equities research analysts recently weighed in on FTI shares. Barclays PLC cut FMC Technologies to a “neutral” rating and set a $33.00 price target on the stock. in a research note on Thursday, May 26th. Cowen and Company restated an “outperform” rating and issued a $35.00 price target (up previously from $29.00) on shares of FMC Technologies in a research note on Thursday, April 28th. Simmons restated an “overweight” rating and issued a $29.00 price target (up previously from $27.00) on shares of FMC Technologies in a research note on Monday, July 25th. Jefferies Group set a $29.00 price target on FMC Technologies and gave the company a “hold” rating in a research note on Wednesday, July 20th. Finally, Royal Bank Of Canada increased their price target on FMC Technologies from $29.00 to $32.00 and gave the company a “sector perform” rating in a research note on Thursday, April 28th. Sixteen analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $31.90.
The firm’s 50 day moving average is $26.20 and its 200-day moving average is $26.62. The firm has a market cap of $5.93 billion and a price-to-earnings ratio of 37.60.
FMC Technologies (NYSE:FTI) last issued its earnings results on Wednesday, July 20th. The company reported $0.22 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by $0.08. During the same quarter in the previous year, the firm posted $0.52 EPS. The business earned $1.20 billion during the quarter, compared to analysts’ expectations of $1.26 billion. FMC Technologies’s revenue for the quarter was down 32.2% on a year-over-year basis. On average, equities research analysts predict that FMC Technologies Inc. will post $0.94 EPS for the current fiscal year.
Other hedge funds have recently modified their holdings of the company. Jennison Associates LLC raised its stake in shares of FMC Technologies by 4.6% in the fourth quarter. Jennison Associates LLC now owns 1,729,825 shares of the company’s stock valued at $50,182,000 after buying an additional 76,423 shares during the last quarter. BlackRock Advisors LLC raised its stake in shares of FMC Technologies by 17.5% in the fourth quarter. BlackRock Advisors LLC now owns 411,099 shares of the company’s stock valued at $11,926,000 after buying an additional 61,365 shares during the last quarter. Bridgewater Associates LP raised its stake in shares of FMC Technologies by 985.3% in the fourth quarter. Bridgewater Associates LP now owns 209,423 shares of the company’s stock valued at $6,075,000 after buying an additional 190,127 shares during the last quarter. Cornerstone Capital Management Holdings LLC. raised its stake in shares of FMC Technologies by 2.5% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 131,530 shares of the company’s stock valued at $3,816,000 after buying an additional 3,210 shares during the last quarter. Finally, Airain ltd purchased a new stake in shares of FMC Technologies during the fourth quarter valued at about $3,775,000.
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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