First Eagle Investment Management LLC raised its holdings in shares of FMC Technologies, Inc. (NYSE:FTI) by 10.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,933,562 shares of the oil and gas company’s stock after purchasing an additional 3,347,874 shares during the period. FMC Technologies accounts for approximately 2.1% of First Eagle Investment Management LLC’s investment portfolio, making the stock its 12th biggest holding. First Eagle Investment Management LLC owned about 7.27% of FMC Technologies worth $947,425,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. Sei Investments Co. increased its position in shares of FMC Technologies by 6.0% during the third quarter. Sei Investments Co. now owns 79,015 shares of the oil and gas company’s stock worth $2,207,000 after purchasing an additional 4,507 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in shares of FMC Technologies by 29.4% during the third quarter. BNP Paribas Arbitrage SA now owns 239,248 shares of the oil and gas company’s stock worth $6,680,000 after purchasing an additional 54,317 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of FMC Technologies by 8.8% during the third quarter. Bessemer Group Inc. now owns 92,264 shares of the oil and gas company’s stock valued at $2,576,000 after buying an additional 7,476 shares during the last quarter. Swiss National Bank grew its holdings in shares of FMC Technologies by 1.1% during the third quarter. Swiss National Bank now owns 1,633,104 shares of the oil and gas company’s stock valued at $45,596,000 after buying an additional 18,000 shares during the last quarter. Finally, Stoneridge Investment Partners LLC purchased a new stake in FMC Technologies in the third quarter valued at $1,825,000. 66.88% of the stock is currently owned by institutional investors and hedge funds.
Shares of FMC Technologies, Inc. (FTI) traded down $0.44 on Monday, reaching $28.92. 2,322,500 shares of the company were exchanged, compared to its average volume of 4,142,293. FMC Technologies, Inc. has a 12-month low of $24.53 and a 12-month high of $37.09. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.22 and a quick ratio of 1.14.
FMC Technologies (NYSE:FTI) last announced its earnings results on Wednesday, October 25th. The oil and gas company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.07). The business had revenue of $4.14 billion for the quarter, compared to the consensus estimate of $3.87 billion. FMC Technologies’s revenue for the quarter was up 74.3% on a year-over-year basis. During the same period last year, the firm posted $0.22 EPS. equities research analysts expect that FMC Technologies, Inc. will post 1.61 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Tuesday, November 21st will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date is Monday, November 20th.
Several equities research analysts have commented on FTI shares. ValuEngine lowered shares of FMC Technologies from a “buy” rating to a “hold” rating in a report on Friday, September 1st. UBS AG reiterated a “buy” rating and issued a $36.00 price objective (down previously from $40.00) on shares of FMC Technologies in a research report on Monday, July 31st. Goldman Sachs Group, Inc. (The) downgraded shares of FMC Technologies from a “buy” rating to a “neutral” rating in a research report on Monday. Barclays PLC set a $28.00 price objective on shares of FMC Technologies and gave the company a “hold” rating in a report on Thursday, October 26th. Finally, Royal Bank Of Canada set a $45.00 price objective on shares of FMC Technologies and gave the company a “buy” rating in a report on Saturday, October 7th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $34.58.
FMC Technologies Company Profile
FMC Technologies, Inc is a global provider of technology solutions for the energy industry. The Company designs, manufactures and services a range of systems and products, including subsea production and processing systems, surface wellhead production systems, high pressure fluid control equipment, measurement solutions and marine loading systems.
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