FMC Technologies, Inc. (NYSE:FTI) Stake Increased by Ardevora Asset Management LLP

Ardevora Asset Management LLP boosted its stake in FMC Technologies, Inc. (NYSE:FTI) by 34.8% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 1,134,200 shares of the oil and gas company’s stock after buying an additional 292,500 shares during the period. Ardevora Asset Management LLP owned approximately 0.24% of FMC Technologies worth $30,850,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Gateway Investment Advisers LLC boosted its stake in FMC Technologies by 0.4% in the second quarter. Gateway Investment Advisers LLC now owns 28,794 shares of the oil and gas company’s stock valued at $783,000 after buying an additional 107 shares in the last quarter. Macquarie Group Ltd. boosted its stake 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 valued at $185,000 after buying an additional 400 shares in the last quarter. Liberty Mutual Group Asset Management Inc. boosted its stake in FMC Technologies by 3.4% in the first quarter. Liberty Mutual Group Asset Management Inc. now owns 15,825 shares of the oil and gas company’s stock valued at $514,000 after buying an additional 520 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in FMC Technologies by 7.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 7,900 shares of the oil and gas company’s stock valued at $281,000 after buying an additional 550 shares in the last quarter. Finally, Heartland Advisors Inc. boosted its stake in FMC Technologies by 6.9% in the first quarter. Heartland Advisors Inc. now owns 9,175 shares of the oil and gas company’s stock valued at $298,000 after buying an additional 590 shares in the last quarter. Institutional investors and hedge funds own 64.15% of the company’s stock.

FMC Technologies, Inc. (NYSE FTI) traded up 0.97% during trading on Tuesday, hitting $28.08. 176,939 shares of the company traded hands. The stock has a market capitalization of $13.10 billion, a PE ratio of 16.84 and a beta of 0.92. The company’s 50 day moving average is $29.03 and its 200-day moving average is $32.11. FMC Technologies, Inc. has a 52 week low of $26.25 and a 52 week high of $36.14.

FMC Technologies announced that its Board of Directors has authorized a stock buyback plan on Wednesday, April 26th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the oil and gas company to buy up to 135% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

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Several research firms have issued reports on FTI. Scotiabank set a $40.00 target price on shares of FMC Technologies and gave the stock a “buy” rating in a research note on Saturday, April 1st. Barclays PLC set a $33.00 target price on shares of FMC Technologies and gave the stock a “hold” rating in a research note on Saturday, May 6th. Jefferies Group LLC reiterated a “hold” rating and issued a $31.00 target price on shares of FMC Technologies in a research note on Friday. BidaskClub cut shares of FMC Technologies from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 20th. Finally, BMO Capital Markets reiterated a “hold” rating and issued a $35.00 target price on shares of FMC Technologies in a research note on Thursday, June 22nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have assigned a buy rating to the company. FMC Technologies currently has a consensus rating of “Buy” and an average price target of $34.60.

In other news, CFO Maryann T. Mannen sold 6,500 shares of the stock in a transaction on Monday, June 5th. The shares were sold at an average price of $29.20, for a total value of $189,800.00. Following the sale, the chief financial officer now owns 309,261 shares of the company’s stock, valued at $9,030,421.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Bradley D. Beitler sold 12,000 shares of the stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $32.00, for a total transaction of $384,000.00. Following the completion of the sale, the executive vice president now directly owns 87,886 shares in the company, valued at approximately $2,812,352. 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.

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

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