FMC Technologies, Inc. (FTI) Sets New 52-Week Low at $25.31
FMC Technologies, Inc. (NYSE:FTI) shares hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $25.31 and last traded at $25.31, with a volume of 1,586,298 shares trading hands. The stock had previously closed at $25.43.
A number of brokerages recently issued reports on FTI. Piper Jaffray Companies set a $32.00 price objective on shares of FMC Technologies and gave the company a “buy” rating in a research note on Wednesday, July 26th. Scotiabank set a $37.00 price objective on shares of FMC Technologies and gave the company a “buy” rating in a research note on Monday, May 1st. Sanford C. Bernstein raised shares of FMC Technologies from an “underperform” rating to a “market perform” rating and set a $29.00 price objective on the stock in a research note on Tuesday, May 16th. ValuEngine raised shares of FMC Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, July 8th. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $31.00 price objective on shares of FMC Technologies in a research note on Friday, July 14th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $35.29.
The company has a 50-day moving average price of $27.39 and a 200 day moving average price of $30.09. The firm has a market cap of $11.82 billion, a P/E ratio of 30.60 and a beta of 0.92.
FMC Technologies (NYSE:FTI) last released its earnings results on Wednesday, July 26th. The oil and gas company reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.08. The business had revenue of $3.85 billion for the quarter, compared to the consensus estimate of $3.80 billion. Equities research analysts forecast that FMC Technologies, Inc. will post $1.06 EPS for the current year.
FMC Technologies declared that its board has approved a stock buyback plan on Wednesday, April 26th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the oil and gas company to reacquire up to 135% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its shares are undervalued.
In other FMC Technologies news, CFO Maryann T. Mannen sold 6,500 shares of the stock in a transaction on Monday, June 5th. The shares were sold at an average price of $29.20, for a total transaction 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 at this link. Corporate insiders own 0.86% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Kimelman & Baird LLC purchased a new stake in shares of FMC Technologies during the second quarter valued at $408,000. Sentry Investment Management LLC boosted its stake in shares of FMC Technologies by 102.0% in the second quarter. Sentry Investment Management LLC now owns 19,163 shares of the oil and gas company’s stock valued at $521,000 after buying an additional 9,677 shares during the last quarter. Toronto Dominion Bank boosted its stake in shares of FMC Technologies by 25.6% in the second quarter. Toronto Dominion Bank now owns 157,776 shares of the oil and gas company’s stock valued at $4,291,000 after buying an additional 32,120 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of FMC Technologies during the second quarter valued at $313,000. Finally, Sterling Capital Management LLC boosted its stake in shares of FMC Technologies by 8.0% in the second quarter. Sterling Capital Management LLC now owns 78,020 shares of the oil and gas company’s stock valued at $2,122,000 after buying an additional 5,790 shares during the last quarter. 65.57% of the stock is owned by institutional investors and hedge funds.
FMC Technologies Company Profile
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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