Manatuck Hill Partners LLC Takes Position in TechnipFMC plc $FTI

Manatuck Hill Partners LLC purchased a new stake in TechnipFMC plc (NYSE:FTI) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 7,000 shares of the oil and gas company’s stock, valued at approximately $464,000.

Several other large investors have also recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new position in shares of TechnipFMC in the 1st quarter valued at $26,000. Newbridge Financial Services Group Inc. acquired a new position in shares of TechnipFMC during the 3rd quarter worth about $32,000. Geneos Wealth Management Inc. increased its position in shares of TechnipFMC by 45.3% in the first quarter. Geneos Wealth Management Inc. now owns 1,090 shares of the oil and gas company’s stock valued at $35,000 after acquiring an additional 340 shares during the last quarter. Ascentis Independent Advisors bought a new stake in TechnipFMC during the first quarter worth about $37,000. Finally, Keating Financial Advisory Services Inc. bought a new stake in TechnipFMC during the second quarter worth about $37,000. Institutional investors and hedge funds own 96.58% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on FTI. Barclays boosted their price target on TechnipFMC from $70.00 to $87.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Jefferies Financial Group reissued a “buy” rating on shares of TechnipFMC in a research note on Sunday, May 31st. Weiss Ratings upgraded shares of TechnipFMC from a “buy (b)” rating to a “buy (a-)” rating in a report on Thursday, August 13th. UBS Group set a $80.00 price target on shares of TechnipFMC in a research report on Wednesday, June 3rd. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of TechnipFMC in a research report on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, TechnipFMC presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.64.

TechnipFMC Stock Performance

Shares of NYSE FTI opened at $75.26 on Wednesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.08 and a quick ratio of 0.85. The firm has a market cap of $29.52 billion, a price-to-earnings ratio of 26.13, a P/E/G ratio of 1.55 and a beta of 0.72. The stock’s fifty day moving average price is $71.45 and its two-hundred day moving average price is $69.56. TechnipFMC plc has a one year low of $35.29 and a one year high of $80.55.

TechnipFMC (NYSE:FTI) last posted its earnings results on Thursday, July 30th. The oil and gas company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.80 by $0.11. TechnipFMC had a return on equity of 36.54% and a net margin of 11.28%.The company had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.67 billion. During the same quarter last year, the firm earned $0.68 earnings per share. The company’s revenue was up 9.0% on a year-over-year basis. On average, equities analysts forecast that TechnipFMC plc will post 3.09 EPS for the current year.

TechnipFMC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 2nd. Shareholders of record on Tuesday, August 18th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Tuesday, August 18th. TechnipFMC’s dividend payout ratio is presently 6.94%.

Insider Activity at TechnipFMC

In other TechnipFMC news, Director Eric D. Mullins bought 6,365 shares of the stock in a transaction dated Friday, August 14th. The shares were bought at an average cost of $78.55 per share, with a total value of $499,970.75. Following the completion of the acquisition, the director owned 8,070 shares of the company’s stock, valued at $633,898.50. This trade represents a 373.31% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 1.40% of the company’s stock.

TechnipFMC Profile

TechnipFMC is an integrated oilfield services and technology company that designs, manufactures and delivers systems and services for the energy industry. The company’s activities span the full lifecycle of oil and gas projects, with capabilities in subsea production systems, surface wellhead and intervention equipment, and onshore/offshore engineering and construction. TechnipFMC combines engineering and project management with fabrication, installation and maintenance services to help operators develop and produce hydrocarbon resources.

Its product and service portfolio includes subsea hardware such as trees, manifolds, umbilicals, risers and flowlines, as well as surface equipment for drilling, completions and well intervention.