FMC Technologies Inc. (FTI) Sees Strong Trading Volume
FMC Technologies Inc. (NYSE:FTI) saw unusually-high trading volume on Tuesday . Approximately 3,263,815 shares were traded during mid-day trading, a decline of 9% from the previous session’s volume of 3,578,744 shares.The stock last traded at $27.64 and had previously closed at $27.51.
FTI has been the topic of a number of research analyst reports. Credit Suisse Group AG restated a “hold” rating and issued a $26.00 target price on shares of FMC Technologies in a research note on Thursday, June 2nd. Jefferies Group restated a “hold” rating and issued a $29.00 target price on shares of FMC Technologies in a research note on Wednesday, June 1st. FBR & Co restated a “hold” rating on shares of FMC Technologies in a research note on Wednesday, July 20th. Nomura set a $26.00 target price on FMC Technologies and gave the stock a “hold” rating in a research note on Tuesday, August 16th. Finally, Citigroup Inc. restated a “neutral” rating and issued a $29.00 target price on shares of FMC Technologies in a research note on Saturday, June 25th. Fifteen analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $31.94.
The stock has a market cap of $6.22 billion, a PE ratio of 39.41 and a beta of 1.22. The firm has a 50-day moving average of $27.43 and a 200-day moving average of $27.35.
FMC Technologies (NYSE:FTI) last announced its quarterly earnings results 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 firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.26 billion. FMC Technologies had a net margin of 2.99% and a return on equity of 13.44%. FMC Technologies’s revenue was down 32.2% on a year-over-year basis. During the same period last year, the business earned $0.52 EPS. Equities analysts expect that FMC Technologies Inc. will post $0.93 EPS for the current year.
In related news, VP Sanjay Bhatia sold 2,800 shares of the firm’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 transaction of $79,632.00. Following the completion of the sale, the vice president now owns 48,943 shares of the company’s stock, valued at $1,391,938.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.86% of the company’s stock.
Large investors have recently modified their holdings of the company. Bank of Montreal Can bought a new stake in shares of FMC Technologies during the second quarter valued at about $77,891,000. JPMorgan Chase & Co. boosted its stake in shares of FMC Technologies by 725.1% in the first quarter. JPMorgan Chase & Co. now owns 2,796,096 shares of the company’s stock valued at $76,501,000 after buying an additional 2,457,213 shares in the last quarter. Norges Bank bought a new stake in shares of FMC Technologies during the fourth quarter valued at about $45,579,000. Key Group Holdings Cayman LTD. boosted its stake in shares of FMC Technologies by 6,824.5% in the second quarter. Key Group Holdings Cayman LTD. now owns 1,391,825 shares of the company’s stock valued at $37,120,000 after buying an additional 1,371,725 shares in the last quarter. Finally, Natixis bought a new stake in shares of FMC Technologies during the first quarter valued at about $36,735,000. Institutional investors own 89.64% of the company’s stock.
About FMC Technologies
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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