FMC Technologies, Inc. (NYSE:FTI) was upgraded by stock analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued on Tuesday, August 1st.
FTI has been the subject of several other reports. Piper Jaffray Companies set a $32.00 target price 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 target price on shares of FMC Technologies and gave the stock a “buy” rating in a research report on Monday, May 1st. Sanford C. Bernstein upgraded shares of FMC Technologies from an “underperform” rating to a “market perform” rating and set a $29.00 price target for the company in a research report on Tuesday, May 16th. ValuEngine upgraded shares of FMC Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, July 8th. Finally, Jefferies Group LLC restated a “hold” rating and set a $31.00 price target on shares of FMC Technologies in a research report on Friday, July 14th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $35.29.
Shares of FMC Technologies (NYSE:FTI) opened at 25.75 on Tuesday. FMC Technologies has a one year low of $25.45 and a one year high of $36.14. The firm has a market cap of $12.03 billion, a P/E ratio of 31.14 and a beta of 0.92. The firm has a 50 day moving average price of $27.44 and a 200-day moving average price of $30.19.
FMC Technologies (NYSE:FTI) last announced its earnings results on Wednesday, July 26th. The oil and gas company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.08. The company had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.80 billion. Analysts forecast that FMC Technologies will post $1.06 earnings per share for the current year.
FMC Technologies declared that its Board of Directors has approved a share repurchase program on Wednesday, April 26th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the oil and gas company to repurchase up to 135% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.
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In other FMC Technologies news, EVP Bradley D. Beitler sold 12,000 shares of the business’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $32.00, for a total value of $384,000.00. Following the completion of the sale, the executive vice president now directly owns 87,886 shares of the company’s stock, valued at approximately $2,812,352. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Maryann T. Mannen sold 6,500 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $9,030,421.20. The disclosure for this sale can be found here. Company insiders own 0.86% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Toronto Dominion Bank raised its stake in FMC Technologies by 25.6% in the second quarter. Toronto Dominion Bank now owns 157,776 shares of the oil and gas company’s stock valued at $4,291,000 after buying an additional 32,120 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in FMC Technologies during the second quarter valued at approximately $313,000. Sterling Capital Management LLC raised its position in FMC Technologies by 8.0% in the second quarter. Sterling Capital Management LLC now owns 78,020 shares of the oil and gas company’s stock valued at $2,122,000 after buying an additional 5,790 shares during the period. Nomura Holdings Inc. bought a new stake in FMC Technologies during the second quarter valued at $962,000. Finally, California State Teachers Retirement System acquired a new stake in FMC Technologies during the second quarter valued at approximately $1,553,000. Institutional investors and hedge funds own 65.57% 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.
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