Sterneck Capital Management LLC Grows Stake in Frank’s International N.V. (FI)

Sterneck Capital Management LLC grew its holdings in Frank’s International N.V. (NYSE:FI) by 11.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 299,315 shares of the pipeline company’s stock after purchasing an additional 30,285 shares during the quarter. Frank’s International N.V. makes up approximately 1.5% of Sterneck Capital Management LLC’s portfolio, making the stock its 26th largest holding. Sterneck Capital Management LLC owned 0.13% of Frank’s International N.V. worth $2,481,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Citigroup Inc. grew its position in shares of Frank’s International N.V. by 726.2% in the second quarter. Citigroup Inc. now owns 12,162 shares of the pipeline company’s stock valued at $101,000 after purchasing an additional 10,690 shares during the last quarter. BlueCrest Capital Management Ltd acquired a new stake in shares of Frank’s International N.V. in the first quarter valued at approximately $116,000. Legal & General Group Plc grew its position in shares of Frank’s International N.V. by 567.8% in the second quarter. Legal & General Group Plc now owns 14,305 shares of the pipeline company’s stock valued at $118,000 after purchasing an additional 12,163 shares during the last quarter. M&T Bank Corp acquired a new stake in shares of Frank’s International N.V. in the second quarter valued at approximately $138,000. Finally, US Bancorp DE acquired a new stake in shares of Frank’s International N.V. in the first quarter valued at approximately $178,000. Institutional investors and hedge funds own 30.38% of the company’s stock.

Frank’s International N.V. (NYSE:FI) traded up 1.588% during trading on Friday, reaching $7.355. 319,747 shares of the company’s stock were exchanged. Frank’s International N.V. has a 52 week low of $6.04 and a 52 week high of $13.57. The stock’s market capitalization is $1.64 billion. The company’s 50 day moving average price is $7.22 and its 200-day moving average price is $8.10.

Frank’s International N.V. (NYSE:FI) last announced its quarterly earnings data on Monday, August 7th. The pipeline company reported ($0.12) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.02). Frank’s International N.V. had a negative net margin of 35.28% and a negative return on equity of 8.97%. The company had revenue of $117.70 million for the quarter, compared to analysts’ expectations of $113.41 million. During the same period in the previous year, the firm posted ($0.20) earnings per share. The business’s revenue for the quarter was down 2.7% on a year-over-year basis. On average, equities analysts expect that Frank’s International N.V. will post ($0.42) EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were given a $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 4.14%. The ex-dividend date of this dividend was Tuesday, August 29th. Frank’s International N.V.’s dividend payout ratio is -40.00%.

In other Frank’s International N.V. news, major shareholder Wbm Partnership, Lp sold 250,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were sold at an average price of $6.15, for a total value of $1,537,500.00. Following the completion of the sale, the insider now directly owns 9,807,351 shares of the company’s stock, valued at $60,315,208.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder G. Mosing Family L.L. Kendall sold 1,500,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $7.25, for a total transaction of $10,875,000.00. Following the completion of the sale, the insider now directly owns 11,724,888 shares of the company’s stock, valued at $85,005,438. The disclosure for this sale can be found here. Insiders sold 4,907,355 shares of company stock valued at $33,779,088 over the last three months. Insiders own 77.90% of the company’s stock.

Several analysts have recently commented on the stock. Jefferies Group LLC reiterated a “hold” rating on shares of Frank’s International N.V. in a research report on Friday, July 21st. BidaskClub upgraded shares of Frank’s International N.V. from a “sell” rating to a “hold” rating in a research report on Friday, June 30th. Seaport Global Securities lowered shares of Frank’s International N.V. from a “neutral” rating to a “sell” rating and lowered their price target for the company from $7.00 to $6.00 in a research report on Wednesday, June 21st. Morgan Stanley lowered shares of Frank’s International N.V. from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $13.00 to $9.00 in a research report on Wednesday, June 21st. Finally, J P Morgan Chase & Co lowered shares of Frank’s International N.V. from a “neutral” rating to an “underweight” rating and set a $7.00 price target on the stock. in a research report on Wednesday, September 27th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. Frank’s International N.V. currently has an average rating of “Hold” and an average target price of $8.50.

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Frank’s International N.V. Company Profile

Frank’s International N.V. (FINV) is a provider of engineered tubular services, tubular fabrication and specialty well construction and well intervention solutions to the oil and gas industry. The Company operates through four business segments: International Services, U. S. Services, Tubular Sales and Blackhawk.

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Institutional Ownership by Quarter for Frank`s International N.V. (NYSE:FI)

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