Lucus Advisors LLC reduced its stake in FMC Technologies Inc. (NYSE:FTI) by 31.4% during the second quarter, Holdings Channel reports. The fund owned 13,258 shares of the company’s stock after selling 6,062 shares during the period. Lucus Advisors LLC’s holdings in FMC Technologies were worth $354,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. State Street Corp boosted its position in shares of FMC Technologies by 2.9% in the first quarter. State Street Corp now owns 13,060,064 shares of the company’s stock valued at $357,322,000 after buying an additional 363,785 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in FMC Technologies by 4.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 6,214,653 shares of the company’s stock worth $170,033,000 after buying an additional 249,087 shares during the last quarter. Fairpointe Capital LLC boosted its position in FMC Technologies by 2.8% in the first quarter. Fairpointe Capital LLC now owns 5,831,120 shares of the company’s stock worth $159,539,000 after buying an additional 157,397 shares during the last quarter. Bank of Montreal Can bought a new position in FMC Technologies during the second quarter worth $77,891,000. Finally, JPMorgan Chase & Co. boosted its position in FMC Technologies by 725.1% in the first quarter. JPMorgan Chase & Co. now owns 2,796,096 shares of the company’s stock worth $76,501,000 after buying an additional 2,457,213 shares during the last quarter. 89.63% of the stock is currently owned by institutional investors and hedge funds.
FMC Technologies Inc. (NYSE:FTI) traded up 4.01% during trading on Wednesday, reaching $28.53. The company had a trading volume of 4,175,440 shares. FMC Technologies Inc. has a 52 week low of $22.30 and a 52 week high of $35.93. The company’s 50-day moving average is $27.84 and its 200 day moving average is $27.43. The firm has a market capitalization of $6.44 billion, a price-to-earnings ratio of 40.82 and a beta of 1.22.
FMC Technologies (NYSE:FTI) last issued its quarterly earnings results on Wednesday, July 20th. The company reported $0.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by $0.08. The business had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.26 billion. FMC Technologies had a return on equity of 13.44% and a net margin of 2.99%. The business’s revenue for the quarter was down 32.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.52 EPS. Equities analysts anticipate that FMC Technologies Inc. will post $0.92 EPS for the current year.
A number of research analysts have recently weighed in on FTI shares. Citigroup Inc. lifted their price objective on FMC Technologies from $29.00 to $31.00 and gave the company a “neutral” rating in a research report on Monday, September 12th. Seaport Global Securities cut FMC Technologies from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $29.00 to $28.00 in a research report on Thursday, September 22nd. Capital One Financial Corp. raised FMC Technologies from an “equal weight” rating to an “overweight” rating and set a $36.00 price objective on the stock in a research report on Thursday, August 25th. FBR & Co reaffirmed a “hold” rating on shares of FMC Technologies in a research report on Wednesday, July 20th. Finally, Jefferies Group reaffirmed a “hold” rating and set a $29.00 price objective on shares of FMC Technologies in a research report on Wednesday, June 1st. Fifteen analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $31.56.
In other FMC Technologies news, VP Sanjay Bhatia sold 2,800 shares of the stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $28.44, for a total transaction of $79,632.00. Following the transaction, the vice president now owns 48,943 shares in the company, valued at $1,391,938.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.86% of the company’s stock.
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.
Want to see what other hedge funds are holding FTI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FMC Technologies Inc. (NYSE:FTI).
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.