Dupont Capital Management Corp increased its stake in FMC Technologies, Inc. (NYSE:FTI) by 129.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 110,149 shares of the oil and gas company’s stock after buying an additional 62,077 shares during the period. Dupont Capital Management Corp’s holdings in FMC Technologies were worth $2,996,000 as of its most recent filing with the SEC.
Several other large investors also recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of FMC Technologies by 3,127.8% in the first quarter. BlackRock Inc. now owns 20,159,977 shares of the oil and gas company’s stock valued at $655,198,000 after buying an additional 19,535,400 shares during the last quarter. OppenheimerFunds Inc. raised its stake in shares of FMC Technologies by 5,960.8% in the first quarter. OppenheimerFunds Inc. now owns 13,171,232 shares of the oil and gas company’s stock valued at $428,601,000 after buying an additional 12,953,913 shares during the last quarter. First Eagle Investment Management LLC raised its stake in shares of FMC Technologies by 68.6% in the first quarter. First Eagle Investment Management LLC now owns 19,967,797 shares of the oil and gas company’s stock valued at $648,953,000 after buying an additional 8,122,004 shares during the last quarter. AXA raised its stake in shares of FMC Technologies by 63,654.7% in the first quarter. AXA now owns 7,475,236 shares of the oil and gas company’s stock valued at $242,945,000 after buying an additional 7,463,511 shares during the last quarter. Finally, State Street Corp raised its stake in shares of FMC Technologies by 48.1% in the first quarter. State Street Corp now owns 20,471,445 shares of the oil and gas company’s stock valued at $665,332,000 after buying an additional 6,648,002 shares during the last quarter. Institutional investors own 65.57% of the company’s stock.
FMC Technologies, Inc. (NYSE FTI) opened at 25.57 on Friday. FMC Technologies, Inc. has a 52 week low of $25.57 and a 52 week high of $36.14. The company has a 50-day moving average of $27.48 and a 200 day moving average of $30.24. The firm has a market cap of $11.94 billion, a P/E ratio of 30.92 and a beta of 0.92.
FMC Technologies (NYSE:FTI) last posted its quarterly earnings results on Wednesday, July 26th. The oil and gas company reported $0.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.37 by $0.08. The firm had revenue of $3.85 billion for the quarter, compared to analysts’ expectations 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 has authorized a share buyback 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 repurchase up to 135% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.
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Several equities research analysts have commented on FTI shares. Seaport Global Securities upgraded shares of FMC Technologies from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $35.00 to $40.00 in a research report on Thursday, April 20th. ValuEngine lowered shares of FMC Technologies from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Scotiabank set a $37.00 target price on shares of FMC Technologies and gave the stock a “buy” rating in a research report on Monday, May 1st. Morgan Stanley restated an “overweight” rating and set a $43.00 target price (down from $45.00) on shares of FMC Technologies in a research report on Thursday, June 22nd. Finally, Cowen and Company restated a “buy” rating and set a $32.00 target price on shares of FMC Technologies in a research report on Tuesday, July 11th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $35.29.
In other news, CFO Maryann T. Mannen sold 6,500 shares of the firm’s stock in a transaction dated Monday, June 5th. The stock was 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 of the company’s stock, valued at approximately $9,030,421.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Bradley D. Beitler sold 12,000 shares of the firm’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $32.00, for a total value of $384,000.00. Following the sale, the executive vice president now directly owns 87,886 shares of the company’s stock, valued at $2,812,352. The disclosure for this sale can be found here. 0.86% of the stock is owned by company insiders.
About FMC Technologies
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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