Traders Buy Shares of FMC Technologies Inc. (FTI) on Weakness
Investors purchased 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
FTI has been the subject of a number of research reports. Barclays PLC downgraded FMC Technologies from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $37.00 to $33.00 in a report on Friday, May 20th. BMO Capital Markets reaffirmed a “hold” rating and issued a $29.00 price target on shares of FMC Technologies in a research note on Friday, May 20th. Jefferies Group reaffirmed a “hold” rating and issued a $29.00 price target on shares of FMC Technologies in a research note on Friday, May 20th. FBR & Co reaffirmed a “hold” rating on shares of FMC Technologies in a research note on Friday, May 20th. Finally, Credit Suisse Group AG reaffirmed a “hold” rating and issued a $26.00 price target on shares of FMC Technologies in a research note on Thursday, June 2nd. Fifteen equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $32.26.
The stock has a market cap of $6.33 billion and a P/E ratio of 40.14. The firm has a 50-day moving average price of $26.69 and a 200 day moving average price of $26.91.
FMC Technologies (NYSE:FTI) last announced its quarterly earnings data on Wednesday, July 20th. The company reported $0.22 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.30 by $0.08. The company earned $1.20 billion during the quarter, compared to the consensus estimate of $1.26 billion. During the same quarter last year, the company posted $0.52 earnings per share. The company’s quarterly revenue was down 32.2% compared to the same quarter last year. On average, equities research analysts predict that FMC Technologies Inc. will post $0.92 EPS for the current fiscal year.
In related news, VP Sanjay Bhatia sold 2,800 shares of the firm’s stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $28.44, for a total transaction of $79,632.00. Following the transaction, the vice president now directly owns 48,943 shares of the company’s stock, valued at approximately $1,391,938.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
An institutional investor recently raised its position in FMC Technologies stock. KBC Group NV boosted its position in shares of FMC Technologies Inc. (NYSE:FTI) by 59.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 86,312 shares of the company’s stock after buying an additional 32,078 shares during the period. KBC Group NV’s holdings in FMC Technologies were worth $2,504,000 at the end of the most recent quarter.
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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