Boston Partners Grows Position in Flotek Industries, Inc. (FTK)
Boston Partners lifted its stake in Flotek Industries, Inc. (NYSE:FTK) by 141.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 916,580 shares of the oil and gas company’s stock after buying an additional 536,940 shares during the period. Boston Partners owned about 1.60% of Flotek Industries worth $4,262,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Piedmont Investment Advisors LLC bought a new position in Flotek Industries during the second quarter worth about $105,000. Stevens Capital Management LP bought a new position in Flotek Industries during the third quarter worth about $110,000. Municipal Employees Retirement System of Michigan lifted its stake in Flotek Industries by 5.8% during the second quarter. Municipal Employees Retirement System of Michigan now owns 12,790 shares of the oil and gas company’s stock worth $114,000 after purchasing an additional 700 shares during the period. KCG Holdings Inc. bought a new position in Flotek Industries during the first quarter worth about $137,000. Finally, Miles Capital Inc. bought a new position in Flotek Industries during the second quarter worth about $146,000. Institutional investors and hedge funds own 96.97% of the company’s stock.
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Flotek Industries, Inc. (FTK) opened at $4.73 on Friday. Flotek Industries, Inc. has a one year low of $4.14 and a one year high of $14.51.
Flotek Industries (NYSE:FTK) last announced its quarterly earnings results on Wednesday, November 8th. The oil and gas company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.05). The business had revenue of $79.46 million for the quarter, compared to the consensus estimate of $85.10 million. Flotek Industries had a negative return on equity of 1.64% and a negative net margin of 10.41%. The firm’s revenue for the quarter was up 23.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.06) EPS. equities analysts anticipate that Flotek Industries, Inc. will post -0.12 earnings per share for the current year.
A number of brokerages have commented on FTK. BidaskClub cut shares of Flotek Industries from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 25th. Zacks Investment Research cut shares of Flotek Industries from a “hold” rating to a “strong sell” rating in a research note on Wednesday, September 20th.
Flotek Industries 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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