Gabelli Funds LLC reduced its stake in FMC Technologies, Inc. (NYSE:FTI) by 7.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 128,000 shares of the oil and gas company’s stock after selling 11,000 shares during the period. Gabelli Funds LLC’s holdings in FMC Technologies were worth $3,574,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in FTI. C M Bidwell & Associates Ltd. acquired a new stake in shares of FMC Technologies in the second quarter valued at approximately $161,000. Conning Inc. boosted its holdings in shares of 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 acquiring an additional 200 shares during the period. Bbva Compass Bancshares Inc. boosted its holdings 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 valued at $224,000 after acquiring an additional 379 shares during the period. Intact Investment Management Inc. acquired a new stake in shares of FMC Technologies in the third quarter valued at approximately $237,000. Finally, Bank of Nova Scotia boosted its holdings in shares of FMC Technologies by 2.8% in the second quarter. Bank of Nova Scotia now owns 11,204 shares of the oil and gas company’s stock valued at $305,000 after acquiring an additional 300 shares during the period. Institutional investors own 66.88% of the company’s stock.
Several equities research analysts have recently weighed in on the company. HSBC Holdings plc assumed coverage on FMC Technologies in a report on Monday, September 11th. They issued a “hold” rating and a $26.00 price objective for the company. Piper Jaffray Companies set a $32.00 price objective on FMC Technologies and gave the company a “buy” rating in a report on Wednesday, July 26th. Gabelli raised FMC Technologies from a “hold” rating to a “buy” rating and set a $39.00 price objective for the company in a report on Friday, October 20th. Cowen and Company set a $32.00 price objective on FMC Technologies and gave the company a “buy” rating in a report on Friday, October 6th. Finally, Barclays PLC decreased their price objective on FMC Technologies from $30.00 to $28.00 and set an “equal weight” rating for the company in a report on Friday, October 27th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $34.03.
FMC Technologies, Inc. (NYSE FTI) opened at $28.40 on Tuesday. FMC Technologies, Inc. has a 52-week low of $24.53 and a 52-week high of $37.09. The company has a current ratio of 1.22, a quick ratio of 1.14 and a debt-to-equity ratio of 0.23.
FMC Technologies (NYSE:FTI) last announced its quarterly earnings results on Wednesday, October 25th. The oil and gas company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.07). The firm had revenue of $4.14 billion during the quarter, compared to analyst estimates of $3.87 billion. During the same period in the prior year, the company posted $0.22 EPS. The firm’s quarterly revenue was up 74.3% on a year-over-year basis. research analysts anticipate that FMC Technologies, Inc. will post 1.61 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Tuesday, November 21st will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date is Monday, November 20th.
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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