Scout Investments Inc. Decreases Stake in FMC Technologies, Inc. (FTI)
Scout Investments Inc. reduced its stake in FMC Technologies, Inc. (NYSE:FTI) by 36.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 530,581 shares of the oil and gas company’s stock after selling 300,730 shares during the period. Scout Investments Inc. owned approximately 0.11% of FMC Technologies worth $14,432,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in FTI. BlackRock Inc. boosted its stake in FMC Technologies by 3,127.8% in the first quarter. BlackRock Inc. now owns 20,159,977 shares of the oil and gas company’s stock worth $655,198,000 after buying an additional 19,535,400 shares during the last quarter. OppenheimerFunds Inc. boosted its stake in FMC Technologies by 5,960.8% in the first quarter. OppenheimerFunds Inc. now owns 13,171,232 shares of the oil and gas company’s stock worth $428,601,000 after buying an additional 12,953,913 shares during the last quarter. First Eagle Investment Management LLC boosted its stake in FMC Technologies by 53.2% in the second quarter. First Eagle Investment Management LLC now owns 30,585,688 shares of the oil and gas company’s stock worth $831,931,000 after buying an additional 10,617,891 shares during the last quarter. AXA boosted its stake in FMC Technologies by 63,654.7% in the first quarter. AXA now owns 7,475,236 shares of the oil and gas company’s stock worth $242,945,000 after buying an additional 7,463,511 shares during the last quarter. Finally, State Street Corp boosted its stake in FMC Technologies by 48.1% in the first quarter. State Street Corp now owns 20,471,445 shares of the oil and gas company’s stock worth $665,332,000 after buying an additional 6,648,002 shares during the last quarter. 65.35% of the stock is owned by hedge funds and other institutional investors.
Shares of FMC Technologies, Inc. (NYSE FTI) opened at 25.83 on Friday. The firm has a market cap of $12.07 billion, a price-to-earnings ratio of 31.23 and a beta of 0.92. The stock has a 50 day moving average of $26.97 and a 200-day moving average of $29.75. FMC Technologies, Inc. has a 1-year low of $25.17 and a 1-year high of $36.14.
FMC Technologies (NYSE:FTI) last released its quarterly earnings results on Wednesday, July 26th. The oil and gas company reported $0.45 EPS for the quarter, beating the 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 analysts anticipate that FMC Technologies, Inc. will post $1.06 EPS for the current fiscal year.
A number of equities research analysts recently commented on FTI shares. Barclays PLC set a $33.00 target price on shares of FMC Technologies and gave the company a “hold” rating in a research report on Saturday, May 6th. Sanford C. Bernstein raised shares of FMC Technologies from an “underperform” rating to a “market perform” rating and set a $29.00 target price for the company in a research report on Tuesday, May 16th. Royal Bank Of Canada reissued a “hold” rating and set a $37.00 target price on shares of FMC Technologies in a research report on Friday, June 2nd. ValuEngine cut shares of FMC Technologies from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, BidaskClub cut shares of FMC Technologies from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 20th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $35.25.
In related 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 in the company, valued at approximately $9,030,421.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.86% of the stock is owned by corporate insiders.
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.
Receive News & Ratings for FMC Technologies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FMC Technologies Inc. and related companies with MarketBeat.com's FREE daily email newsletter.