Fairpointe Capital buys $160.8 Million stake in FMC Technologies (FTI)

FMC Technologies (FTI) : Fairpointe Capital scooped up 157,397 additional shares in FMC Technologies during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 5,831,120 shares of FMC Technologies which is valued at $160.8 Million.FMC Technologies makes up approximately 3.48% of Fairpointe Capital’s portfolio.

Other Hedge Funds, Including , Meeder Asset Management Inc added FTI to its portfolio by purchasing 19,814 company shares during the most recent quarter which is valued at $546,272. FMC Technologies makes up approx 0.05% of Meeder Asset Management Inc’s portfolio.Norinchukin Bank The boosted its stake in FTI in the latest quarter, The investment management firm added 994 additional shares and now holds a total of 11,645 shares of FMC Technologies which is valued at $321,053. FMC Technologies makes up approx 0.01% of Norinchukin Bank The’s portfolio. Sandy Spring Bank sold out all of its stake in FTI during the most recent quarter. The investment firm sold 55 shares of FTI which is valued $1,576.Tci Wealth Advisors boosted its stake in FTI in the latest quarter, The investment management firm added 289 additional shares and now holds a total of 409 shares of FMC Technologies which is valued at $12,470. FMC Technologies makes up approx 0.01% of Tci Wealth Advisors’s portfolio.

FMC Technologies opened for trading at $27.23 and hit $27.49 on the upside on Wednesday, eventually ending the session at $27.29, with a gain of 1.22% or 0.33 points. The heightened volatility saw the trading volume jump to 58,41,074 shares. Company has a market cap of $6,177 M.

On the company’s financial health, FMC Technologies reported $0.22 EPS for the quarter, missing the analyst consensus estimate by $ -0.08 based on the information available during the earnings call on Apr 26, 2016. Analyst had a consensus of $0.30. The company had revenue of $1208.70 million for the quarter, compared to analysts expectations of $1278.48 million. The company’s revenue was down -28.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.63 EPS.

Many Wall Street Analysts have commented on FMC Technologies. Shares were Downgraded by Barclays on May 20, 2016 to ” Equal Weight” and Lowered the Price Target to $ 33 from a previous price target of $37 .Company shares were Reiterated by Cowen on Apr 28, 2016 to “Outperform”, Firm has raised the Price Target to $ 35 from a previous price target of $29 .Company shares were Reiterated by RBC Capital Mkts on Apr 28, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 32 from a previous price target of $29 .

FMC Technologies Inc. is a provider of technology solutions for the energy industry. The Company’s segments include Subsea Technologies Surface Technologies and Energy Infrastructure. Subsea Technologies designs and manufactures products and systems and provides services used by oil and gas companies involved in deepwater exploration and production of crude oil and natural gas. Surface Technologies designs and manufactures systems and provides services used by oil and gas companies involved in land and offshore exploration and production of crude oil and gas; designs manufactures and supplies high pressure valves and fittings for oilfield service companies and also provides flowback and wireline services for exploration companies. Energy Infrastructure manufactures and supplies liquid and gas measurement and transportation equipment and systems for the production transportation and processing of crude oil natural gas and petroleum-based refined products and the mining industry.

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