Flotek Industries, Inc. (FTK) Shares Sold by Principal Financial Group Inc.
Principal Financial Group Inc. lessened its stake in Flotek Industries, Inc. (NYSE:FTK) by 1.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 413,715 shares of the oil and gas company’s stock after selling 8,069 shares during the period. Principal Financial Group Inc. owned approximately 0.72% of Flotek Industries worth $3,699,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of FTK. Municipal Employees Retirement System of Michigan grew its position in shares of Flotek Industries by 5.8% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 12,790 shares of the oil and gas company’s stock valued at $114,000 after acquiring an additional 700 shares during the period. KCG Holdings Inc. bought a new stake in shares of Flotek Industries during the 1st quarter valued at $137,000. BNP Paribas Arbitrage SA grew its position in shares of Flotek Industries by 12.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 11,044 shares of the oil and gas company’s stock valued at $141,000 after acquiring an additional 1,209 shares during the period. Mason Street Advisors LLC grew its position in shares of Flotek Industries by 7.6% during the 1st quarter. Mason Street Advisors LLC now owns 12,664 shares of the oil and gas company’s stock valued at $162,000 after acquiring an additional 893 shares during the period. Finally, IPG Investment Advisors LLC bought a new stake in shares of Flotek Industries during the 2nd quarter valued at $175,000. 97.42% of the stock is owned by institutional investors and hedge funds.
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FTK has been the subject of a number of recent research reports. Zacks Investment Research raised shares of Flotek Industries from a “strong sell” rating to a “hold” rating in a research report on Monday, September 4th. BidaskClub downgraded shares of Flotek Industries from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 24th. Finally, Seaport Global Securities reissued a “buy” rating on shares of Flotek Industries in a research report on Thursday, July 20th.
Shares of Flotek Industries, Inc. (NYSE:FTK) opened at 5.04 on Friday. The company’s market cap is $288.95 million. The stock’s 50 day moving average is $5.27 and its 200-day moving average is $8.67. Flotek Industries, Inc. has a 12 month low of $4.48 and a 12 month high of $14.85.
Flotek Industries Company Profile
Flotek Industries, Inc is a technology-driven company. The Company develops and supplies chemistry and services to the oil and gas industries, and compounds to companies that make cleaning products, cosmetics, food and beverages, and other products that are sold in consumer and industrial markets. The Company operates through two segments: Energy Chemistry Technologies (ECT), and Consumer and Industrial Chemistry Technologies (CICT).
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