First Mercantile Trust Co. lowered its position in shares of FMC Technologies, Inc. (NYSE:FTI) by 8.6% during the second quarter, Holdings Channel reports. The firm owned 47,671 shares of the oil and gas company’s stock after selling 4,509 shares during the period. First Mercantile Trust Co.’s holdings in FMC Technologies were worth $1,297,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Perigon Wealth Management LLC increased its position in FMC Technologies by 19.7% in the first quarter. Perigon Wealth Management LLC now owns 5,017 shares of the oil and gas company’s stock worth $163,000 after buying an additional 826 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new position in FMC Technologies during the first quarter worth about $165,000. MAVEN SECURITIES Ltd acquired a new position in FMC Technologies during the first quarter worth about $174,000. Macquarie Group Ltd. increased its position in 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 last quarter. Finally, Johanson Financial Advisors Inc. acquired a new position in FMC Technologies during the first quarter worth about $201,000. Hedge funds and other institutional investors own 64.70% of the company’s stock.
Shares of FMC Technologies, Inc. (NYSE FTI) opened at 26.42 on Friday. FMC Technologies, Inc. has a 1-year low of $26.25 and a 1-year high of $37.09. The firm has a 50-day moving average of $27.59 and a 200-day moving average of $30.50. The firm has a market capitalization of $12.33 billion, a PE ratio of 31.95 and a beta of 0.92.
FMC Technologies (NYSE:FTI) last released its quarterly earnings results on Wednesday, July 26th. The oil and gas company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08. The firm had revenue of $3.85 billion for the quarter, compared to analyst estimates of $3.80 billion. On average, equities research analysts anticipate that FMC Technologies, Inc. will post $1.06 EPS for the current fiscal year.
FMC Technologies declared that its board has authorized a share repurchase program on Wednesday, April 26th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the oil and gas company to buy up to 135% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.
Several brokerages recently weighed in on FTI. Barclays PLC set a $33.00 price objective on shares of FMC Technologies and gave the company a “hold” rating in a research report on Saturday, May 6th. UBS AG reiterated a “buy” rating and issued a $36.00 price objective (down from $40.00) on shares of FMC Technologies in a research report on Monday, July 31st. BidaskClub downgraded shares of FMC Technologies from a “sell” rating to a “strong sell” rating in a research report on Tuesday. Seaport Global Securities reiterated a “neutral” rating on shares of FMC Technologies in a research report on Thursday, July 27th. Finally, Scotiabank set a $36.00 price objective on shares of FMC Technologies and gave the company a “buy” rating in a research report on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $34.78.
In other FMC Technologies news, EVP Bradley D. Beitler sold 12,000 shares of the company’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 transaction, the executive vice president now owns 87,886 shares of the company’s stock, valued at approximately $2,812,352. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Maryann T. Mannen sold 6,500 shares of the company’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 transaction, the chief financial officer now directly owns 309,261 shares of the company’s stock, valued at approximately $9,030,421.20. The disclosure for this sale can be found here. Corporate insiders own 0.86% of the company’s stock.
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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