PSquared Asset Management AG Acquires Shares of 402,908 FMC Technologies Inc. (FTI)
PSquared Asset Management AG acquired a new stake in FMC Technologies Inc. (NYSE:FTI) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 402,908 shares of the company’s stock, valued at approximately $10,641,000. FMC Technologies accounts for about 55.2% of PSquared Asset Management AG’s portfolio, making the stock its largest position. PSquared Asset Management AG owned 0.18% of FMC Technologies as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently made changes to their positions in FTI. Mizuho Asset Management Co. Ltd. boosted its position in shares of FMC Technologies by 187.3% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 3,907 shares of the company’s stock valued at $104,000 after buying an additional 2,547 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of FMC Technologies by 25.3% in the second quarter. Pacer Advisors Inc. now owns 4,534 shares of the company’s stock valued at $121,000 after buying an additional 916 shares during the last quarter. Mycio Wealth Partners LLC boosted its position in shares of FMC Technologies by 13.9% in the second quarter. Mycio Wealth Partners LLC now owns 5,742 shares of the company’s stock valued at $153,000 after buying an additional 700 shares during the last quarter. Amica Retiree Medical Trust boosted its position in shares of FMC Technologies by 105.0% in the second quarter. Amica Retiree Medical Trust now owns 5,962 shares of the company’s stock valued at $159,000 after buying an additional 3,053 shares during the last quarter. Finally, Euclid Advisors LLC purchased a new position in shares of FMC Technologies during the second quarter valued at about $160,000. Hedge funds and other institutional investors own 89.61% of the company’s stock.
Shares of FMC Technologies Inc. (NYSE:FTI) traded down 0.91% during midday trading on Monday, hitting $31.44. The stock had a trading volume of 2,836,196 shares. The stock has a market cap of $7.09 billion, a P/E ratio of 44.98 and a beta of 1.14. The stock has a 50-day moving average price of $28.94 and a 200-day moving average price of $27.74. FMC Technologies Inc. has a 12-month low of $22.30 and a 12-month high of $35.93.
FMC Technologies (NYSE:FTI) last announced its earnings results on Wednesday, July 20th. The company reported $0.22 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by $0.08. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.26 billion. FMC Technologies had a net margin of 2.99% and a return on equity of 13.44%. FMC Technologies’s quarterly revenue was down 32.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.52 EPS. Equities analysts forecast that FMC Technologies Inc. will post $0.92 earnings per share for the current year.
Several research analysts have recently issued reports on the company. FBR & Co restated a “hold” rating on shares of FMC Technologies in a research note on Wednesday, July 20th. Seaport Global Securities lowered FMC Technologies from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $29.00 to $28.00 in a report on Thursday, September 22nd. Citigroup Inc. reaffirmed a “neutral” rating and set a $29.00 target price on shares of FMC Technologies in a report on Saturday, June 25th. Nomura set a $26.00 target price on FMC Technologies and gave the stock a “hold” rating in a report on Tuesday, August 16th. Finally, Jefferies Group reaffirmed a “hold” rating on shares of FMC Technologies in a report on Sunday, July 10th. Fifteen research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. FMC Technologies 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 stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $28.44, for a total transaction of $79,632.00. Following the sale, the vice president now owns 48,943 shares in the company, valued at approximately $1,391,938.92. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company 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.
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