Kornitzer Capital Management Inc. KS bought a new position in FMC Technologies Inc. (NYSE:FTI) during the second quarter, according to its most recent 13F filing with the SEC. The firm bought 542,186 shares of the company’s stock, valued at approximately $14,460,000. Kornitzer Capital Management Inc. KS owned about 0.24% of FMC Technologies at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. State Street Corp increased its stake in shares of FMC Technologies by 2.9% in the first quarter. State Street Corp now owns 13,060,064 shares of the company’s stock valued at $357,322,000 after buying an additional 363,785 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in shares of FMC Technologies by 4.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 6,214,653 shares of the company’s stock valued at $170,033,000 after buying an additional 249,087 shares during the period. Fairpointe Capital LLC increased its stake in shares of FMC Technologies by 2.8% in the first quarter. Fairpointe Capital LLC now owns 5,831,120 shares of the company’s stock valued at $159,539,000 after buying an additional 157,397 shares during the period. Bank of Montreal Can purchased a new stake in shares of FMC Technologies during the second quarter valued at about $77,891,000. Finally, JPMorgan Chase & Co. increased its stake in shares of FMC Technologies by 725.1% in the first quarter. JPMorgan Chase & Co. now owns 2,796,096 shares of the company’s stock valued at $76,501,000 after buying an additional 2,457,213 shares during the period. 89.64% of the stock is owned by hedge funds and other institutional investors.

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

FMC Technologies Inc. (NYSE:FTI) traded down 0.38% during midday trading on Friday, reaching $31.73. 2,979,631 shares of the company’s stock were exchanged. The stock’s 50-day moving average is $28.85 and its 200-day moving average is $27.70. The stock has a market capitalization of $7.16 billion, a price-to-earnings ratio of 45.39 and a beta of 1.14. FMC Technologies Inc. has a 12-month low of $22.30 and a 12-month high of $35.93.

FMC Technologies (NYSE:FTI) last issued its earnings results on Wednesday, July 20th. The company reported $0.22 EPS for the quarter, missing the Zacks’ consensus estimate of $0.30 by $0.08. The company earned $1.20 billion during the quarter, compared to the consensus estimate of $1.26 billion. FMC Technologies had a return on equity of 13.44% and a net margin of 2.99%. FMC Technologies’s revenue was down 32.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.52 earnings per share. On average, equities analysts forecast that FMC Technologies Inc. will post $0.92 earnings per share for the current year.

Several analysts have issued reports on FTI shares. Citigroup Inc. increased their price objective on shares of FMC Technologies from $29.00 to $31.00 and gave the company a “neutral” rating in a research report on Monday, September 12th. Seaport Global Securities downgraded shares of FMC Technologies from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $29.00 to $28.00 in a research report on Thursday, September 22nd. Capital One Financial Corp. raised shares of FMC Technologies from an “equal weight” rating to an “overweight” rating and set a $36.00 price objective for the company in a research report on Thursday, August 25th. FBR & Co reissued a “hold” rating on shares of FMC Technologies in a research note on Wednesday, July 20th. Finally, Jefferies Group reissued a “hold” rating on shares of FMC Technologies in a research note on Friday, August 5th. Fifteen research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $31.56.

In other FMC Technologies news, VP Sanjay Bhatia sold 2,800 shares of the company’s stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $28.44, for a total value of $79,632.00. Following the transaction, the vice president now directly owns 48,943 shares in the company, valued at approximately $1,391,938.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.86% of the stock is currently owned by company insiders.

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.

5 Day Chart for NYSE:FTI

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