M&T Bank Corp decreased its position in FMC Technologies, Inc. (NYSE:FTI) by 39.7% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 9,069 shares of the oil and gas company’s stock after selling 5,973 shares during the period. M&T Bank Corp’s holdings in FMC Technologies were worth $295,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Macquarie Group Ltd. boosted its stake in shares of FMC Technologies by 8.3% in the fourth quarter. Macquarie Group Ltd. now owns 5,200 shares of the oil and gas company’s stock worth $185,000 after buying an additional 400 shares during the last quarter. Johanson Financial Advisors Inc. purchased a new stake in shares of FMC Technologies during the first quarter worth approximately $201,000. Bayesian Capital Management LP purchased a new stake in shares of FMC Technologies during the fourth quarter worth approximately $207,000. Contravisory Investment Management Inc. boosted its stake in shares of FMC Technologies by 33.2% in the first quarter. Contravisory Investment Management Inc. now owns 7,064 shares of the oil and gas company’s stock worth $230,000 after buying an additional 1,761 shares during the last quarter. Finally, Conning Inc. boosted its stake in shares of FMC Technologies by 29.7% in the first quarter. Conning Inc. now owns 7,465 shares of the oil and gas company’s stock worth $243,000 after buying an additional 1,711 shares during the last quarter. 64.18% of the stock is currently owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for FMC Technologies (NYSE:FTI)

FMC Technologies, Inc. (FTI) opened at 27.59 on Friday. The stock’s 50 day moving average price is $30.12 and its 200-day moving average price is $32.66. The firm has a market capitalization of $12.87 billion, a P/E ratio of 16.55 and a beta of 0.88. FMC Technologies, Inc. has a 12 month low of $27.24 and a 12 month high of $36.14.

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A number of research firms recently issued reports on FTI. Scotiabank set a $37.00 price target on shares of FMC Technologies and gave the company a “buy” rating in a research note on Monday, May 1st. Sanford C. Bernstein raised shares of FMC Technologies from an “underperform” rating to a “market perform” rating and set a $29.00 price target on the stock in a research note on Tuesday, May 16th. ValuEngine cut shares of FMC Technologies from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. BMO Capital Markets set a $37.00 price target on shares of FMC Technologies and gave the company a “hold” rating in a research note on Wednesday, April 12th. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $41.00 price target on shares of FMC Technologies in a research note on Wednesday, March 22nd. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $35.18.

In related news, insider Richard G. Alabaster sold 8,000 shares of the firm’s stock in a transaction dated Monday, March 27th. The stock was sold at an average price of $31.29, for a total transaction of $250,320.00. Following the sale, the insider now directly owns 60,418 shares in the company, valued at approximately $1,890,479.22. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Bradley D. Beitler sold 12,000 shares of the firm’s stock in a transaction dated Monday, May 22nd. The shares were sold at an average price of $32.00, for a total value of $384,000.00. Following the sale, the executive vice president now owns 87,886 shares in the company, valued at $2,812,352. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,500 shares of company stock worth $824,120. Company insiders own 0.86% of the company’s stock.

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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