Papp L Roy & Associates reduced its position in shares of FMC Technologies Inc. (NYSE:FTI) by 32.7% during the second quarter, Holdings Channel reports. The institutional investor owned 16,398 shares of the company’s stock after selling 7,963 shares during the period. Papp L Roy & Associates’ holdings in FMC Technologies were worth $437,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Acrospire Investment Management LLC acquired a new position in FMC Technologies during the first quarter worth about $186,000. Bartlett & Co. LLC acquired a new position in FMC Technologies during the second quarter worth about $199,000. ING Groep NV acquired a new position in FMC Technologies during the second quarter worth about $214,000. Schonfeld Strategic Advisors LLC acquired a new position in FMC Technologies during the first quarter worth about $275,000. Finally, LS Investment Advisors LLC boosted its position in FMC Technologies by 11.6% in the second quarter. LS Investment Advisors LLC now owns 11,564 shares of the company’s stock worth $308,000 after buying an additional 1,205 shares in the last quarter. Hedge funds and other institutional investors own 89.63% of the company’s stock.
Shares of FMC Technologies Inc. (NYSE:FTI) traded up 0.23% during midday trading on Tuesday, reaching $29.95. The company’s stock had a trading volume of 3,812,718 shares. The company’s 50-day moving average price is $28.12 and its 200 day moving average price is $27.48. FMC Technologies Inc. has a 12-month low of $22.30 and a 12-month high of $35.93. The company has a market capitalization of $6.76 billion, a P/E ratio of 42.85 and a beta of 1.14.
FMC Technologies (NYSE:FTI) last announced its quarterly earnings data on Wednesday, July 20th. The company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.30 by $0.08. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.26 billion. FMC Technologies had a net margin of 2.99% and a return on equity of 13.44%. FMC Technologies’s revenue for the quarter was down 32.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.52 earnings per share. On average, equities research analysts forecast that FMC Technologies Inc. will post $0.92 earnings per share for the current year.
A number of research analysts have issued reports on the company. FBR & Co reiterated a “hold” rating on shares of FMC Technologies in a research report on Wednesday, July 20th. Seaport Global Securities cut FMC Technologies from a “buy” rating to a “neutral” rating and decreased their target price for the company from $29.00 to $28.00 in a research report on Thursday, September 22nd. Citigroup Inc. reiterated a “neutral” rating and issued a $29.00 target price on shares of FMC Technologies in a research report on Saturday, June 25th. Nomura set a $26.00 target price on FMC Technologies and gave the company a “hold” rating in a research report on Tuesday, August 16th. Finally, Jefferies Group reiterated a “hold” rating on shares of FMC Technologies in a research report on Sunday, July 10th. Fifteen investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $31.56.
In other news, VP Sanjay Bhatia sold 2,800 shares of the stock in a transaction dated 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 directly owns 48,943 shares in the company, valued at approximately $1,391,938.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.86% of the company’s stock.
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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