FMC Technologies, Inc. (FTI) Shares Bought by Korea Investment CORP
Korea Investment CORP boosted its stake in FMC Technologies, Inc. (NYSE:FTI) by 61.3% during the second quarter, according to its most recent filing with the SEC. The fund owned 42,912 shares of the oil and gas company’s stock after buying an additional 16,314 shares during the period. Korea Investment CORP’s holdings in FMC Technologies were worth $1,167,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in FTI. Gateway Investment Advisers LLC boosted its position in shares of FMC Technologies by 0.4% in the second quarter. Gateway Investment Advisers LLC now owns 28,794 shares of the oil and gas company’s stock valued at $783,000 after buying an additional 107 shares during the period. Louisiana State Employees Retirement System boosted its position in shares of FMC Technologies by 0.7% in the second quarter. Louisiana State Employees Retirement System now owns 28,900 shares of the oil and gas company’s stock valued at $786,000 after buying an additional 200 shares during the period. Bbva Compass Bancshares Inc. boosted its position in shares of FMC Technologies by 4.8% in the second quarter. Bbva Compass Bancshares Inc. now owns 8,225 shares of the oil and gas company’s stock valued at $224,000 after buying an additional 379 shares during the period. Macquarie Group Ltd. boosted its position in shares of FMC Technologies by 8.3% in the fourth quarter. Macquarie Group Ltd. now owns 5,200 shares of the oil and gas company’s stock valued at $185,000 after buying an additional 400 shares during the period. Finally, Liberty Mutual Group Asset Management Inc. boosted its position in shares of FMC Technologies by 3.4% in the first quarter. Liberty Mutual Group Asset Management Inc. now owns 15,825 shares of the oil and gas company’s stock valued at $514,000 after buying an additional 520 shares during the period. Hedge funds and other institutional investors own 65.57% of the company’s stock.
FMC Technologies, Inc. (NYSE:FTI) opened at 26.11 on Wednesday. The firm has a market capitalization of $12.19 billion, a price-to-earnings ratio of 31.57 and a beta of 0.92. The stock’s 50 day moving average price is $27.56 and its 200-day moving average price is $30.31. FMC Technologies, Inc. has a one year low of $25.91 and a one year high of $36.14.
FMC Technologies (NYSE:FTI) last posted its quarterly earnings data on Wednesday, July 26th. The oil and gas company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08. The business had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.80 billion. On average, equities research analysts anticipate that FMC Technologies, Inc. will post $1.06 earnings per share for the current fiscal year.
FMC Technologies declared that its board has approved a share repurchase program on Wednesday, April 26th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the oil and gas company to buy up to 135% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.
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Several equities analysts recently issued reports on the company. Barclays PLC set a $33.00 price objective on FMC Technologies and gave the stock a “hold” rating in a research note on Saturday, May 6th. Jefferies Group LLC restated a “hold” rating and set a $31.00 price objective on shares of FMC Technologies in a research note on Friday, July 14th. Seaport Global Securities restated a “neutral” rating on shares of FMC Technologies in a research note on Thursday, July 27th. BidaskClub cut FMC Technologies from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 20th. Finally, BMO Capital Markets restated a “hold” rating and set a $35.00 price objective on shares of FMC Technologies in a research note on Thursday, June 22nd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $34.78.
In other FMC Technologies news, CFO Maryann T. Mannen sold 6,500 shares of the business’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $29.20, for a total value of $189,800.00. Following the transaction, the chief financial officer now owns 309,261 shares of the company’s stock, valued at $9,030,421.20. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Bradley D. Beitler sold 12,000 shares of the business’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $32.00, for a total value of $384,000.00. Following the completion of the transaction, the executive vice president now directly owns 87,886 shares in the company, valued at approximately $2,812,352. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by insiders.
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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