Teachers Advisors LLC Has $3.02 Million Stake in FMC Technologies, Inc. (FTI)
Teachers Advisors LLC lowered its stake in FMC Technologies, Inc. (NYSE:FTI) by 77.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 92,892 shares of the oil and gas company’s stock after selling 312,100 shares during the period. Teachers Advisors LLC’s holdings in FMC Technologies were worth $3,019,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of FTI. Mn Services Vermogensbeheer B.V. raised its stake in FMC Technologies by 107.8% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 11,817 shares of the oil and gas company’s stock valued at $359,000 after buying an additional 6,131 shares in the last quarter. Nationwide Fund Advisors raised its stake in FMC Technologies by 14.7% in the first quarter. Nationwide Fund Advisors now owns 318,739 shares of the oil and gas company’s stock valued at $10,359,000 after buying an additional 40,885 shares in the last quarter. Retirement Systems of Alabama raised its stake in FMC Technologies by 104.8% in the first quarter. Retirement Systems of Alabama now owns 225,543 shares of the oil and gas company’s stock valued at $7,330,000 after buying an additional 115,437 shares in the last quarter. Oakbrook Investments LLC raised its stake in FMC Technologies by 24.9% in the first quarter. Oakbrook Investments LLC now owns 14,300 shares of the oil and gas company’s stock valued at $465,000 after buying an additional 2,850 shares in the last quarter. Finally, Johanson Financial Advisors Inc. purchased a new stake in FMC Technologies during the first quarter valued at about $201,000. Institutional investors and hedge funds own 64.70% of the company’s stock.
FMC Technologies, Inc. (FTI) traded down 1.67% during trading on Friday, hitting $26.42. 2,128,855 shares of the stock traded hands. The stock has a market cap of $12.33 billion, a PE ratio of 31.95 and a beta of 0.92. FMC Technologies, Inc. has a 12 month low of $26.25 and a 12 month high of $37.09. The company has a 50-day moving average price of $27.59 and a 200-day moving average price of $30.50.
FMC Technologies (NYSE:FTI) last announced its quarterly earnings data on Wednesday, July 26th. The oil and gas company reported $0.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.37 by $0.08. The business had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.80 billion. Equities research analysts expect that FMC Technologies, Inc. will post $1.06 EPS for the current year.
FMC Technologies announced that its Board of Directors has initiated a share buyback plan on Wednesday, April 26th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the oil and gas company to reacquire up to 135% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
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Several research firms recently issued reports on FTI. Seaport Global Securities upgraded shares of FMC Technologies from a “neutral” rating to a “buy” rating and increased their price target for the stock from $35.00 to $40.00 in a research report on Thursday, April 20th. Barclays PLC set a $33.00 price target on shares of FMC Technologies and gave the stock a “hold” rating in a research report on Saturday, May 6th. Sanford C. Bernstein upgraded shares of FMC Technologies from an “underperform” rating to a “market perform” rating and set a $29.00 price target on the stock in a research report on Tuesday, May 16th. Scotiabank set a $37.00 price target on shares of FMC Technologies and gave the stock a “buy” rating in a research report on Monday, May 1st. Finally, ValuEngine downgraded shares of FMC Technologies from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $34.78.
In other news, CFO Maryann T. Mannen sold 6,500 shares of the company’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $29.20, for a total value of $189,800.00. Following the completion of the sale, the chief financial officer now owns 309,261 shares of the company’s stock, valued at approximately $9,030,421.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Bradley D. Beitler sold 12,000 shares of the company’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $32.00, for a total transaction of $384,000.00. Following the completion of the sale, the executive vice president now directly owns 87,886 shares of the company’s stock, valued at approximately $2,812,352. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by corporate insiders.
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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