Price Michael F Lowers stake in FMC Technologies (FTI)

FMC Technologies (FTI) : Price Michael F reduced its stake in FMC Technologies by 34.83% during the most recent quarter end. The investment management company now holds a total of 435,000 shares of FMC Technologies which is valued at $11,644,950 after selling 232,500 shares in FMC Technologies , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.FMC Technologies makes up approximately 1.48% of Price Michael F’s portfolio.

Other Hedge Funds, Including , Johnson Financial Group reduced its stake in FTI by selling 300 shares or 84.51% in the most recent quarter. The Hedge Fund company now holds 55 shares of FTI which is valued at $1,472.Teachers Advisors Inc reduced its stake in FTI by selling 19,658 shares or 6.73% in the most recent quarter. The Hedge Fund company now holds 272,415 shares of FTI which is valued at $7,292,550. FMC Technologies makes up approx 0.01% of Teachers Advisors Inc’s portfolio. Nelson Roberts Investment Advisors added FTI to its portfolio by purchasing 400 company shares during the most recent quarter which is valued at $10,708. Hap Trading sold out all of its stake in FTI during the most recent quarter. The investment firm sold 14,406 shares of FTI which is valued $370,955.

FMC Technologies closed down -0.03 points or -0.11% at $28.03 with 34,37,007 shares getting traded on Monday. Post opening the session at $28, the shares hit an intraday low of $27.96 and an intraday high of $28.4 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, FMC Technologies reported $0.22 EPS for the quarter, missing the analyst consensus estimate by $ -0.07 based on the information available during the earnings call on Jul 20, 2016. Analyst had a consensus of $0.29. The company had revenue of $1150.00 million for the quarter, compared to analysts expectations of $1260.59 million. The company’s revenue was down -32.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.52 EPS.

Many Wall Street Analysts have commented on FMC Technologies. FMC Technologies was Upgraded by CapitalOne to ” Overweight” on Aug 25, 2016. Shares were Reiterated by FBR Capital on Jul 27, 2016 to “Mkt Perform” and Lowered the Price Target to $ 27 from a previous price target of $28 .Shares were Reiterated by Scotia Howard Weil on Jul 25, 2016 to “Sector Outperform” and Lowered the Price Target to $ 32 from a previous price target of $35 .

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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