Northwestern Mutual Investment Management Company LLC reduced its stake in FMC Technologies Inc. (NYSE:FTI) by 0.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,629 shares of the company’s stock after selling 26 shares during the period. Northwestern Mutual Investment Management Company LLC’s holdings in FMC Technologies were worth $230,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of FTI. BlackRock Japan Co. Ltd boosted its position in FMC Technologies by 17.5% in the first quarter. BlackRock Japan Co. Ltd now owns 362,367 shares of the company’s stock worth $9,914,000 after buying an additional 53,917 shares during the period. 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 period. Hudson Bay Capital Management LP purchased a new position in FMC Technologies during the first quarter worth approximately $2,014,000. BlackRock Group LTD boosted its position in FMC Technologies by 4.7% in the first quarter. BlackRock Group LTD now owns 1,848,925 shares of the company’s stock worth $50,586,000 after buying an additional 82,495 shares during the period. Finally, Aston Asset Management LLC boosted its position in FMC Technologies by 37.2% in the first quarter. Aston Asset Management LLC now owns 85,346 shares of the company’s stock worth $2,335,000 after buying an additional 23,128 shares during the period. Institutional investors own 89.63% of the company’s stock.
Shares of FMC Technologies Inc. (NYSE:FTI) opened at 28.53 on Thursday. The stock’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 P/E ratio of 40.82 and a beta of 1.22. FMC Technologies Inc. has a 52-week low of $22.30 and a 52-week high of $35.93.
FMC Technologies (NYSE:FTI) last released its 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. FMC Technologies had a return on equity of 13.44% and a net margin of 2.99%. The company earned $1.20 billion during the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter in the previous year, the company earned $0.52 EPS. The firm’s quarterly revenue was down 32.2% compared to the same quarter last year. On average, equities analysts forecast that FMC Technologies Inc. will post $0.92 earnings per share for the current fiscal year.
FTI has been the topic of a number of research reports. Simmons restated an “overweight” rating and set a $29.00 price target (up from $27.00) on shares of FMC Technologies in a research note on Monday, July 25th. Capital One Financial Corp. upgraded FMC Technologies from an “equal weight” rating to an “overweight” rating and set a $36.00 price target on the stock in a research note on Thursday, August 25th. Citigroup Inc. upped their price target on FMC Technologies from $29.00 to $31.00 and gave the stock a “neutral” rating in a research note on Monday, September 12th. Jefferies Group restated a “hold” rating on shares of FMC Technologies in a research note on Friday, August 5th. Finally, FBR & Co decreased their price target on FMC Technologies from $28.00 to $27.00 and set a “mkt perform” rating on the stock in a research note on Wednesday, July 27th. Fifteen equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price 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 shares were sold at an average price of $28.44, for a total value of $79,632.00. Following the completion of the sale, the vice president now owns 48,943 shares in the company, valued at approximately $1,391,938.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.86% of the stock is currently owned by company 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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