LMR Partners LLP bought a new stake in FMC Technologies, Inc. (NYSE:FTI) during the second quarter, Holdings Channel reports. The institutional investor bought 77,289 shares of the oil and gas company’s stock, valued at approximately $2,098,000.

Several other institutional investors also recently added to or reduced their stakes in FTI. Dupont Capital Management Corp increased its position in FMC Technologies by 129.1% in the second quarter. Dupont Capital Management Corp now owns 110,149 shares of the oil and gas company’s stock valued at $2,996,000 after buying an additional 62,077 shares during the period. Conning Inc. increased its position in FMC Technologies by 2.7% in the second quarter. Conning Inc. now owns 7,665 shares of the oil and gas company’s stock valued at $208,000 after buying an additional 200 shares during the period. Advisors Asset Management Inc. increased its position in FMC Technologies by 5.4% in the second quarter. Advisors Asset Management Inc. now owns 38,465 shares of the oil and gas company’s stock valued at $1,046,000 after buying an additional 1,982 shares during the period. Rhumbline Advisers increased its position in FMC Technologies by 1.0% in the second quarter. Rhumbline Advisers now owns 397,391 shares of the oil and gas company’s stock valued at $10,809,000 after buying an additional 3,742 shares during the period. Finally, Teacher Retirement System of Texas increased its position in FMC Technologies by 7.6% in the second quarter. Teacher Retirement System of Texas now owns 249,230 shares of the oil and gas company’s stock valued at $6,779,000 after buying an additional 17,594 shares during the period. 65.57% of the stock is currently owned by hedge funds and other institutional investors.

FMC Technologies, Inc. (FTI) opened at 26.11 on Wednesday. The company has a market cap of $12.19 billion, a PE ratio of 31.57 and a beta of 0.92. The firm’s 50-day moving average is $27.56 and its 200-day moving average is $30.31. FMC Technologies, Inc. has a 52-week low of $25.91 and a 52-week high of $36.14.

FMC Technologies (NYSE:FTI) last announced its quarterly earnings data on Wednesday, July 26th. The oil and gas company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.08. The firm had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.80 billion. On average, equities research analysts anticipate that FMC Technologies, Inc. will post $1.06 EPS for the current year.

FMC Technologies declared that its board has approved a stock repurchase program on Wednesday, April 26th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the oil and gas company to buy up to 135% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

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Several research firms have recently commented on FTI. BidaskClub downgraded shares of FMC Technologies from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 8th. UBS AG reissued a “buy” rating and issued a $36.00 target price (down previously from $40.00) on shares of FMC Technologies in a report on Monday, July 31st. Seaport Global Securities reissued a “neutral” rating on shares of FMC Technologies in a report on Thursday, July 27th. Scotiabank set a $36.00 target price on shares of FMC Technologies and gave the stock a “buy” rating in a report on Thursday, July 27th. Finally, Piper Jaffray Companies set a $32.00 target price on shares of FMC Technologies and gave the stock a “buy” rating in a report on Wednesday, July 26th. 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. The company has an average rating of “Hold” and an average price target of $34.78.

In other news, CFO Maryann T. Mannen sold 6,500 shares of FMC Technologies stock in a transaction on Monday, June 5th. The stock was sold at an average price of $29.20, for a total transaction of $189,800.00. Following the transaction, the chief financial officer now owns 309,261 shares in the company, valued at approximately $9,030,421.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Bradley D. Beitler sold 12,000 shares of FMC Technologies 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 transaction, the executive vice president now 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 owned by 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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