First Mercantile Trust Co Lowers stake in FMC Technologies (FTI)

FMC Technologies (FTI) : First Mercantile Trust Co reduced its stake in FMC Technologies by 14.52% during the most recent quarter end. The investment management company now holds a total of 59,882 shares of FMC Technologies which is valued at $1,875,504 after selling 10,170 shares in FMC Technologies , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.FMC Technologies makes up approximately 0.25% of First Mercantile Trust Co’s portfolio.

Other Hedge Funds, Including , Advisory Services Network boosted its stake in FTI in the latest quarter, The investment management firm added 112 additional shares and now holds a total of 462 shares of FMC Technologies which is valued at $14,470.Chevy Chase Trust Holdings reduced its stake in FTI by selling 5,086 shares or 2.62% in the most recent quarter. The Hedge Fund company now holds 188,962 shares of FTI which is valued at $5,803,023. FMC Technologies makes up approx 0.03% of Chevy Chase Trust Holdings’s portfolio.Bnp Paribas Arbitrage Sa boosted its stake in FTI in the latest quarter, The investment management firm added 2,245 additional shares and now holds a total of 20,216 shares of FMC Technologies which is valued at $620,833. Washington Trust Bank added FTI to its portfolio by purchasing 25 company shares during the most recent quarter which is valued at $768. Eqis Capital Management added FTI to its portfolio by purchasing 6,780 company shares during the most recent quarter which is valued at $208,214. FMC Technologies makes up approx 0.01% of Eqis Capital Management’s portfolio.

FMC Technologies opened for trading at $31.52 and hit $31.54 on the upside on Friday, eventually ending the session at $31.32, with a gain of 1.20% or 0.37 points. The heightened volatility saw the trading volume jump to 33,63,253 shares. Company has a market cap of $7,067 M.

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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