Orbis Allan Gray Ltd adds FMC Technologies (FTI) to its portfolio

FMC Technologies (FTI) : Orbis Allan Gray Ltd added new position in FMC Technologies during the most recent quarter end. The investment management firm now holds 154,050 shares of FMC Technologies which is valued at $4,123,919 , the company said in a statement filed on Aug 15, 2016 with the SEC.FMC Technologies makes up approximately 0.03% of Orbis Allan Gray Ltd’s portfolio.

Other Hedge Funds, Including , Davidson Kempner Capital Management Lp added FTI to its portfolio by purchasing 536,400 company shares during the most recent quarter which is valued at $14,359,428. FMC Technologies makes up approx 0.81% of Davidson Kempner Capital Management Lp’s portfolio.Tredje Ap-fonden boosted its stake in FTI in the latest quarter, The investment management firm added 12,340 additional shares and now holds a total of 13,290 shares of FMC Technologies which is valued at $355,773. FMC Technologies makes up approx 0.01% of Tredje Ap-fonden’s portfolio. Omers Administration Corp sold out all of its stake in FTI during the most recent quarter. The investment firm sold 45,300 shares of FTI which is valued $1,212,681.California Public Employees Retirement System reduced its stake in FTI by selling 700 shares or 0.11% in the most recent quarter. The Hedge Fund company now holds 655,400 shares of FTI which is valued at $16,365,338. FMC Technologies makes up approx 0.03% of California Public Employees Retirement System’s portfolio.

FMC Technologies closed down -0.23 points or -0.81% at $28.21 with 4,033,370 shares getting traded on Wednesday. Post opening the session at $28.45, the shares hit an intraday low of $28.165 and an intraday high of $28.69 and the price fluctuated in this range throughout the day.Shares ended Wednesday 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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