Platinum Investment Management Ltd. lifted its stake in shares of FMC Technologies, Inc. (NYSE:FTI) by 29.6% in the second quarter, according to its most recent filing with the SEC. The fund owned 7,016,100 shares of the oil and gas company’s stock after acquiring an additional 1,604,400 shares during the period. FMC Technologies makes up 5.2% of Platinum Investment Management Ltd.’s investment portfolio, making the stock its 8th biggest position. Platinum Investment Management Ltd. owned about 1.50% of FMC Technologies worth $190,837,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Advisors Asset Management Inc. lifted its holdings in shares of FMC Technologies by 5.4% during the 2nd quarter. Advisors Asset Management Inc. now owns 38,465 shares of the oil and gas company’s stock worth $1,046,000 after acquiring an additional 1,982 shares during the last quarter. Sei Investments Co. lifted its holdings in shares of FMC Technologies by 204.4% during the 2nd quarter. Sei Investments Co. now owns 74,508 shares of the oil and gas company’s stock worth $2,027,000 after acquiring an additional 50,033 shares during the last quarter. Strs Ohio lifted its holdings in shares of FMC Technologies by 8.0% during the 2nd quarter. Strs Ohio now owns 1,355,000 shares of the oil and gas company’s stock worth $36,856,000 after acquiring an additional 100,000 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of FMC Technologies by 1.0% during the 2nd quarter. Rhumbline Advisers now owns 397,391 shares of the oil and gas company’s stock worth $10,809,000 after acquiring an additional 3,742 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of FMC Technologies by 3.6% during the 2nd quarter. Principal Financial Group Inc. now owns 687,658 shares of the oil and gas company’s stock worth $18,704,000 after acquiring an additional 23,894 shares during the last quarter. 65.35% of the stock is owned by institutional investors.

Shares of FMC Technologies, Inc. (NYSE:FTI) traded down 0.18% during trading on Friday, hitting $27.42. 2,016,326 shares of the stock traded hands. The firm’s 50-day moving average price is $26.56 and its 200-day moving average price is $28.81. The stock has a market cap of $12.81 billion, a PE ratio of 33.16 and a beta of 0.95. FMC Technologies, Inc. has a 12 month low of $25.17 and a 12 month high of $37.09.

FMC Technologies (NYSE:FTI) last released its earnings results on Wednesday, July 26th. The oil and gas company reported $0.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.08. The firm had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.80 billion. Analysts anticipate that FMC Technologies, Inc. will post $1.06 EPS for the current year.

COPYRIGHT VIOLATION NOTICE: “Platinum Investment Management Ltd. Boosts Stake in FMC Technologies, Inc. (FTI)” was originally posted by Watch List News and is the property of of Watch List News. If you are reading this report on another domain, it was copied illegally and republished in violation of US and international copyright & trademark legislation. The legal version of this report can be accessed at https://www.watchlistnews.com/platinum-investment-management-ltd-boosts-stake-in-fmc-technologies-inc-fti/1618232.html.

A number of analysts have recently issued reports on FTI shares. BidaskClub downgraded shares of FMC Technologies from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 20th. Seaport Global Securities downgraded shares of FMC Technologies from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $40.00 to $26.00 in a report on Wednesday, June 21st. BMO Capital Markets reaffirmed a “hold” rating and set a $35.00 price objective on shares of FMC Technologies in a report on Thursday, June 22nd. Morgan Stanley reaffirmed an “overweight” rating and set a $43.00 price objective (down from $45.00) on shares of FMC Technologies in a report on Thursday, June 22nd. Finally, ValuEngine raised shares of FMC Technologies from a “hold” rating to a “buy” rating in a report on Saturday, July 8th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $35.09.

FMC Technologies 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.

Want to see what other hedge funds are holding FTI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FMC Technologies, Inc. (NYSE:FTI).

Institutional Ownership by Quarter for FMC Technologies (NYSE:FTI)

Receive News & Ratings for FMC Technologies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FMC Technologies Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.