Teacher Retirement System of Texas raised its position in shares of FMC Technologies, Inc. (NYSE:FTI) by 7.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 249,230 shares of the oil and gas company’s stock after buying an additional 17,594 shares during the period. Teacher Retirement System of Texas’ holdings in FMC Technologies were worth $6,779,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of FTI. Gateway Investment Advisers LLC increased its stake 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 worth $783,000 after buying an additional 107 shares during the period. Louisiana State Employees Retirement System increased its stake 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 worth $786,000 after buying an additional 200 shares during the period. Bbva Compass Bancshares Inc. increased its stake 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 worth $224,000 after buying an additional 379 shares during the period. Macquarie Group Ltd. increased its stake 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 worth $185,000 after buying an additional 400 shares during the period. Finally, Liberty Mutual Group Asset Management Inc. increased its stake 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 worth $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 26.31 on Tuesday. The stock has a market capitalization of $12.28 billion, a PE ratio of 31.81 and a beta of 0.92. The firm has a 50-day moving average price of $27.58 and a 200-day moving average price of $30.38. FMC Technologies, Inc. has a 52 week low of $26.24 and a 52 week 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.08. The company had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.80 billion. Equities research analysts predict that FMC Technologies, Inc. will post $1.06 EPS for the current fiscal year.

FMC Technologies announced that its Board of Directors has initiated a share buyback program on Wednesday, April 26th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the oil and gas company to repurchase up to 135% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

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A number of brokerages have recently issued reports on FTI. Barclays PLC set a $33.00 price target on FMC Technologies and gave the company a “hold” rating in a research report on Saturday, May 6th. Jefferies Group LLC reiterated a “hold” rating and set a $31.00 price target on shares of FMC Technologies in a research report on Friday, July 14th. Seaport Global Securities reiterated a “neutral” rating on shares of FMC Technologies in a research report on Thursday, July 27th. BidaskClub downgraded FMC Technologies from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 20th. Finally, BMO Capital Markets reiterated a “hold” rating and set a $35.00 price target on shares of FMC Technologies in a research report on Thursday, June 22nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $34.78.

In related news, EVP Bradley D. Beitler sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $32.00, for a total transaction of $384,000.00. Following the completion of the sale, the executive vice president now directly owns 87,886 shares of the company’s stock, valued at approximately $2,812,352. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Maryann T. Mannen sold 6,500 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 309,261 shares of the company’s stock, valued at $9,030,421.20. The disclosure for this sale can be found here. 0.86% of the stock is 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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Institutional Ownership by Quarter for FMC Technologies (NYSE:FTI)

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