FMC Technologies Inc. (FTI) Sees Unusually-High Trading Volume
FMC Technologies Inc. (NYSE:FTI) shares saw strong trading volume on Friday . 3,877,704 shares changed hands during trading, an increase of 11% from the previous session’s volume of 3,480,258 shares.The stock last traded at $28.76 and had previously closed at $28.55.
A number of research analysts recently commented on FTI shares. Credit Suisse Group AG reiterated a “hold” rating and issued a $26.00 price objective on shares of FMC Technologies in a report on Thursday, June 2nd. Clarkson Capital cut FMC Technologies from a “buy” rating to a “neutral” rating in a report on Friday, April 22nd. Barclays PLC cut FMC Technologies from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $37.00 to $33.00 in a report on Friday, May 20th. FBR & Co reiterated a “hold” rating on shares of FMC Technologies in a report on Wednesday, July 20th. Finally, Jefferies Group reiterated a “hold” rating and issued a $29.00 price objective on shares of FMC Technologies in a report on Wednesday, June 1st. Sixteen equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. FMC Technologies presently has a consensus rating of “Hold” and an average target price of $31.90.
The firm has a 50 day moving average of $26.34 and a 200 day moving average of $26.74. The firm has a market capitalization of $6.50 billion and a price-to-earnings ratio of 41.24.
FMC Technologies (NYSE:FTI) last issued its earnings results on Wednesday, July 20th. The company reported $0.22 EPS for the quarter, missing the Zacks’ consensus estimate of $0.30 by $0.08. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.26 billion. During the same quarter in the previous year, the company posted $0.52 earnings per share. The company’s revenue for the quarter was down 32.2% on a year-over-year basis. Analysts expect that FMC Technologies Inc. will post $0.93 EPS for the current fiscal year.
Other institutional investors have modified their holdings of the company. Marshall Wace LLP acquired a new position in shares of FMC Technologies during the fourth quarter worth approximately $1,990,000. KBC Group NV increased its stake in FMC Technologies by 59.1% in the fourth quarter. KBC Group NV now owns 86,312 shares of the company’s stock valued at $2,504,000 after buying an additional 32,078 shares during the period. Airain ltd purchased a new stake in FMC Technologies during the fourth quarter valued at about $3,775,000. Calvert Investment Management Inc. increased its stake in FMC Technologies by 106.4% in the fourth quarter. Calvert Investment Management Inc. now owns 155,569 shares of the company’s stock valued at $4,513,000 after buying an additional 80,196 shares during the period. Finally, Bridgewater Associates LP increased its stake in 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 period.
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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