LMR Partners LLP Invests $2.10 Million in FMC Technologies, Inc. (FTI)

LMR Partners LLP bought a new stake in FMC Technologies, Inc. (NYSE:FTI) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 77,289 shares of the oil and gas company’s stock, valued at approximately $2,098,000.

Other large investors have also bought and sold shares of the company. Perigon Wealth Management LLC increased its stake in shares of 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. purchased a new stake in shares of FMC Technologies during the first quarter worth about $165,000. MAVEN SECURITIES Ltd purchased a new stake in shares of FMC Technologies during the first quarter worth about $174,000. Macquarie Group Ltd. increased its stake in shares of 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. purchased a new stake in shares of FMC Technologies during the first quarter worth about $201,000. 65.57% of the stock is owned by institutional investors.

Shares of FMC Technologies, Inc. (NYSE:FTI) opened at 26.11 on Wednesday. The stock has a market capitalization of $12.19 billion, a PE ratio of 31.57 and a beta of 0.92. FMC Technologies, Inc. has a 52 week low of $25.91 and a 52 week high of $36.14. The company’s 50 day moving average is $27.56 and its 200-day moving average is $30.31.

FMC Technologies (NYSE:FTI) last announced its quarterly earnings results on Wednesday, July 26th. The oil and gas company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08. The company had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.80 billion. On average, equities analysts predict that FMC Technologies, Inc. will post $1.06 earnings per share for the current year.

FMC Technologies announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, April 26th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the oil and gas company to purchase up to 135% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

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A number of equities research analysts have issued reports on the stock. Piper Jaffray Companies set a $32.00 price objective on shares of FMC Technologies and gave the stock a “buy” rating in a research report on Wednesday, July 26th. Scotiabank set a $37.00 price objective on shares of FMC Technologies and gave the stock a “buy” rating in a research report on Monday, May 1st. Sanford C. Bernstein raised shares of FMC Technologies from an “underperform” rating to a “market perform” rating and set a $29.00 price objective for the company in a research report on Tuesday, May 16th. ValuEngine raised shares of FMC Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, July 8th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and issued a $31.00 price objective on shares of FMC Technologies in a research report on Friday, July 14th. 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’s stock. FMC Technologies has a consensus rating of “Hold” and a consensus price target of $34.78.

In related news, CFO Maryann T. Mannen sold 6,500 shares of the business’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $29.20, for a total transaction of $189,800.00. Following the completion of the sale, the chief financial officer now directly owns 309,261 shares in the company, valued at $9,030,421.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Bradley D. Beitler sold 12,000 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now owns 87,886 shares of the company’s stock, valued at $2,812,352. The disclosure for this sale can be found here. 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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