Flotek Industries, Inc. (FTK) Shares Sold by Ameriprise Financial Inc.
Ameriprise Financial Inc. decreased its position in shares of Flotek Industries, Inc. (NYSE:FTK) by 61.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 295,450 shares of the oil and gas company’s stock after selling 469,308 shares during the period. Ameriprise Financial Inc.’s holdings in Flotek Industries were worth $1,374,000 at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the company. Russell Investments Group Ltd. lifted its holdings in shares of Flotek Industries by 164.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 383,883 shares of the oil and gas company’s stock valued at $1,785,000 after acquiring an additional 238,537 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of Flotek Industries by 67.7% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 29,451 shares of the oil and gas company’s stock valued at $137,000 after acquiring an additional 11,889 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Flotek Industries by 4.5% in the 3rd quarter. Principal Financial Group Inc. now owns 432,369 shares of the oil and gas company’s stock valued at $2,011,000 after acquiring an additional 18,654 shares during the last quarter. Boston Partners lifted its holdings in shares of Flotek Industries by 141.4% in the 3rd quarter. Boston Partners now owns 916,580 shares of the oil and gas company’s stock valued at $4,262,000 after acquiring an additional 536,940 shares during the last quarter. Finally, Stevens Capital Management LP bought a new position in shares of Flotek Industries in the 3rd quarter valued at about $110,000. Hedge funds and other institutional investors own 84.91% of the company’s stock.
Flotek Industries, Inc. (NYSE FTK) opened at $5.61 on Wednesday. Flotek Industries, Inc. has a 1-year low of $4.14 and a 1-year high of $14.51. The company has a market cap of $300.04, a PE ratio of -10.02 and a beta of 1.70.
Flotek Industries (NYSE:FTK) last announced its quarterly earnings results on Wednesday, November 8th. The oil and gas company reported ($0.03) EPS for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.05). Flotek Industries had a negative net margin of 10.41% and a negative return on equity of 1.64%. The business had revenue of $79.46 million during the quarter, compared to the consensus estimate of $85.10 million. During the same period in the previous year, the business posted ($0.06) EPS. The firm’s revenue was up 23.5% on a year-over-year basis. equities analysts predict that Flotek Industries, Inc. will post -0.12 earnings per share for the current year.
Separately, Zacks Investment Research raised shares of Flotek Industries from a “strong sell” rating to a “hold” rating in a report on Tuesday.
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Flotek Industries Company Profile
Flotek Industries, Inc is a technology-driven company. The Company develops and supplies chemistry and services to the oil and gas industries, and compounds to companies that make cleaning products, cosmetics, food and beverages, and other products that are sold in consumer and industrial markets. The Company operates through two segments: Energy Chemistry Technologies (ECT), and Consumer and Industrial Chemistry Technologies (CICT).
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