Stoneridge Investment Partners LLC Invests $3,695,000 in FMC Technologies Inc. (FTI)
Stoneridge Investment Partners LLC purchased a new stake in shares of FMC Technologies Inc. (NYSE:FTI) during the second quarter, Holdings Channel reports. The firm purchased 138,533 shares of the company’s stock, valued at approximately $3,695,000. Stoneridge Investment Partners LLC owned approximately 0.06% of FMC Technologies at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Acrospire Investment Management LLC purchased a new position in shares of FMC Technologies during the first quarter valued at about $186,000. LPL Financial LLC purchased a new position in shares of FMC Technologies during the first quarter valued at about $211,000. Schonfeld Strategic Advisors LLC purchased a new position in shares of FMC Technologies during the first quarter valued at about $275,000. LS Investment Advisors LLC raised its position in shares of FMC Technologies by 11.6% in the second quarter. LS Investment Advisors LLC now owns 11,564 shares of the company’s stock valued at $308,000 after buying an additional 1,205 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. purchased a new position in shares of FMC Technologies during the first quarter valued at about $315,000. Hedge funds and other institutional investors own 89.64% of the company’s stock.
FMC Technologies Inc. (NYSE:FTI) remained flat at $27.51 during trading on Monday. The stock had a trading volume of 2,619,885 shares. The company has a market capitalization of $6.21 billion, a P/E ratio of 39.36 and a beta of 1.22. The stock’s 50 day moving average is $27.34 and its 200-day moving average is $27.34. 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 quarterly earnings results on Wednesday, July 20th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.30 by $0.08. FMC Technologies had a return on equity of 13.44% and a net margin of 2.99%. The firm had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.26 billion. During the same quarter last year, the firm posted $0.52 earnings per share. The firm’s revenue for the quarter was down 32.2% compared to the same quarter last year. Equities research analysts forecast that FMC Technologies Inc. will post $0.93 earnings per share for the current fiscal year.
A number of equities research analysts have weighed in on FTI shares. Credit Suisse Group AG reaffirmed a “hold” rating and set a $26.00 price objective on shares of FMC Technologies in a report on Thursday, June 2nd. FBR & Co reaffirmed a “hold” rating on shares of FMC Technologies in a report on Wednesday, July 20th. Jefferies Group reaffirmed a “hold” rating and set a $29.00 price objective on shares of FMC Technologies in a report on Wednesday, June 1st. Citigroup Inc. reaffirmed a “neutral” rating and set a $29.00 price objective on shares of FMC Technologies in a report on Saturday, June 25th. Finally, Nomura set a $26.00 price objective on FMC Technologies and gave the company a “hold” rating in a report on Tuesday, August 16th. Fifteen analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $31.94.
In related news, VP Sanjay Bhatia sold 2,800 shares of the business’s stock in a transaction dated Monday, August 22nd. The shares were 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 $1,391,938.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate 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.
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