Investors Buy Shares of FMC Technologies Inc. (FTI) on Weakness
Investors bought shares of FMC Technologies Inc. (NYSE:FTI) on weakness during trading hours on Friday. $23.33 million flowed into the stock on the tick-up and $15.19 million flowed out of the stock on the tick-down, for a money net flow of $8.14 million into the stock. Of all companies tracked, FMC Technologies had the 17th highest net in-flow for the day. FMC Technologies traded down ($0.47) for the day and closed at $28.06
A number of research firms recently commented on FTI. Citigroup Inc. reaffirmed a “neutral” rating and set a $29.00 price target on shares of FMC Technologies in a research report on Saturday, June 25th. Capital One Financial Corp. raised shares of FMC Technologies from an “equal weight” rating to an “overweight” rating and set a $36.00 price target on the stock in a research report on Thursday. Barclays PLC lowered shares of FMC Technologies to a “neutral” rating and set a $33.00 price target on the stock. in a research report on Thursday, May 26th. FBR & Co reaffirmed a “hold” rating on shares of FMC Technologies in a research report on Wednesday, July 20th. Finally, Jefferies Group reaffirmed a “hold” rating and set a $29.00 price target on shares of FMC Technologies in a research report on Wednesday, June 1st. Fifteen investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $32.26.
The company has a market capitalization of $6.33 billion and a P/E ratio of 40.14. The firm’s 50 day moving average is $26.69 and its 200-day moving average is $26.91.
FMC Technologies (NYSE:FTI) last posted its quarterly earnings data on Wednesday, July 20th. The company reported $0.22 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by $0.08. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter last year, the business posted $0.52 EPS. The company’s revenue was down 32.2% compared to the same quarter last year. Equities research analysts expect that FMC Technologies Inc. will post $0.92 earnings per share for the current fiscal year.
In related news, VP Sanjay Bhatia sold 2,800 shares of the company’s stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $28.44, for a total value of $79,632.00. Following the transaction, the vice president now directly owns 48,943 shares in the company, valued at $1,391,938.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
A hedge fund recently bought a new stake in FMC Technologies stock. Marshall Wace LLP purchased a new position in shares of FMC Technologies Inc. (NYSE:FTI) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 68,580 shares of the company’s stock, valued at 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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