38,300 Shares in Flotek Industries Inc. (FTK) Acquired by Deprince Race & Zollo Inc.
Deprince Race & Zollo Inc. purchased a new position in Flotek Industries Inc. (NYSE:FTK) during the second quarter, Holdings Channel reports. The firm purchased 38,300 shares of the company’s stock, valued at approximately $506,000.
Several other large investors have also modified their holdings of the company. Louisiana State Employees Retirement System raised its stake in shares of Flotek Industries by 0.4% in the second quarter. Louisiana State Employees Retirement System now owns 23,800 shares of the company’s stock worth $314,000 after buying an additional 100 shares in the last quarter. Arizona State Retirement System raised its stake in shares of Flotek Industries by 0.4% in the first quarter. Arizona State Retirement System now owns 27,467 shares of the company’s stock worth $201,000 after buying an additional 100 shares during the period. Capstone Asset Management Co. raised its stake in shares of Flotek Industries by 4.9% in the second quarter. Capstone Asset Management Co. now owns 16,110 shares of the company’s stock worth $213,000 after buying an additional 750 shares during the period. Prudential Financial Inc. raised its stake in shares of Flotek Industries by 2.3% in the first quarter. Prudential Financial Inc. now owns 127,689 shares of the company’s stock worth $936,000 after buying an additional 2,900 shares during the period. Finally, BNP Paribas Arbitrage SA raised its stake in shares of Flotek Industries by 113.4% in the second quarter. BNP Paribas Arbitrage SA now owns 16,823 shares of the company’s stock worth $222,000 after buying an additional 8,941 shares during the period. 94.89% of the stock is owned by hedge funds and other institutional investors.
Shares of Flotek Industries Inc. (NYSE:FTK) traded down 3.11% on Friday, hitting $14.32. The stock had a trading volume of 546,666 shares. The firm’s market cap is $771.98 million. Flotek Industries Inc. has a 12-month low of $4.89 and a 12-month high of $20.24. The stock has a 50 day moving average of $14.83 and a 200 day moving average of $12.36.
Flotek Industries (NYSE:FTK) last posted its quarterly earnings results on Tuesday, July 26th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.06. The business earned $72.32 million during the quarter, compared to analyst estimates of $65 million. Flotek Industries had a negative return on equity of 2.24% and a negative net margin of 10.29%. The business’s revenue was down 16.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.02 earnings per share. Equities analysts predict that Flotek Industries Inc. will post ($0.14) earnings per share for the current fiscal year.
A number of equities research analysts have weighed in on FTK shares. Zacks Investment Research raised Flotek Industries from a “strong sell” rating to a “hold” rating in a research report on Monday, June 27th. Stephens reaffirmed a “top pick” rating on shares of Flotek Industries in a research report on Friday, July 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $10.81.
In related news, Director L Melvin Cooper sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $16.01, for a total value of $160,100.00. Following the completion of the transaction, the director now directly owns 92,475 shares in the company, valued at $1,480,524.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 5.64% of the stock is owned by insiders.
About Flotek Industries
Flotek Industries, Inc is a technology-driven company that develops and supplies oilfield products, services and equipment to the oil, gas and mining industries. The Company has four business segments: Energy Chemistry Technologies, Consumer and Industrial Chemical Technologies, Drilling Technologies, and Production Technologies.
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