Price Michael F buys $25,159,050 stake in FMC Technologies (FTI)

FMC Technologies (FTI) : Price Michael F scooped up 300,000 additional shares in FMC Technologies during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 735,000 shares of FMC Technologies which is valued at $25,159,050.FMC Technologies makes up approximately 3.36% of Price Michael F’s portfolio.

Other Hedge Funds, Including , Hbk Investments L P sold out all of its stake in FTI during the most recent quarter. The investment firm sold 423,128 shares of FTI which is valued $14,483,671.Credit Agricole S A reduced its stake in FTI by selling 112,998 shares or 29.87% in the most recent quarter. The Hedge Fund company now holds 265,239 shares of FTI which is valued at $9,145,441. FMC Technologies makes up approx 0.03% of Credit Agricole S A’s portfolio.Blackrock Fund Advisors boosted its stake in FTI in the latest quarter, The investment management firm added 119,127 additional shares and now holds a total of 4,413,965 shares of FMC Technologies which is valued at $145,484,286. FMC Technologies makes up approx 0.03% of Blackrock Fund Advisors’s portfolio.Regentatlantic Capital reduced its stake in FTI by selling 1,230 shares or 1.6% in the most recent quarter. The Hedge Fund company now holds 75,511 shares of FTI which is valued at $2,447,312. FMC Technologies makes up approx 0.26% of Regentatlantic Capital’s portfolio.

FMC Technologies closed down -0.66 points or -1.89% at $34.26 with 30,18,042 shares getting traded on Monday. Post opening the session at $34.41, the shares hit an intraday low of $34.09 and an intraday high of $34.51 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, FMC Technologies reported $0.35 EPS for the quarter, beating the analyst consensus estimate by $ 0.12 according to the earnings call on Oct 19, 2016. Analyst had a consensus of $0.23. The company had revenue of $1091.20 million for the quarter, compared to analysts expectations of $1145.75 million. The company’s revenue was down -29.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.61 EPS.

Many Wall Street Analysts have commented on FMC Technologies. Company shares were Upgraded by UBS on Oct 20, 2016 to ” Buy”, Firm has raised the Price Target to $ 38 from a previous price target of $32 .FMC Technologies was Upgraded by CapitalOne to ” Overweight” on Aug 25, 2016.

FMC Technologies Inc. is a provider of technology solutions for the energy industry. The Company’s segments include Subsea Technologies Surface Technologies and Energy Infrastructure. Subsea Technologies designs and manufactures products and systems and provides services used by oil and gas companies involved in deepwater exploration and production of crude oil and natural gas. Surface Technologies designs and manufactures systems and provides services used by oil and gas companies involved in land and offshore exploration and production of crude oil and gas; designs manufactures and supplies high pressure valves and fittings for oilfield service companies and also provides flowback and wireline services for exploration companies. Energy Infrastructure manufactures and supplies liquid and gas measurement and transportation equipment and systems for the production transportation and processing of crude oil natural gas and petroleum-based refined products and the mining industry.

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