Is it smart to be bullish on FMC Technologies, Inc. (NYSE:FTI)?
In the financial world, there are tons of methods investors can use to watch stocks. A duo of the best are hedge fund and insider trading movement. At Insider Monkey, our research analyses have shown that, historically, those who follow the best picks of the best money managers can trounce their index-focused peers by a significant amount (see just how much).
Just as useful, optimistic insider trading sentiment is another way to analyze the financial markets. As the old adage goes: there are many stimuli for a bullish insider to cut shares of his or her company, but just one, very simple reason why they would behave bullishly. Plenty of empirical studies have demonstrated the market-beating potential of this tactic if “monkeys” know what to do (learn more here).
What’s more, it’s important to study the latest info surrounding FMC Technologies, Inc. (NYSE:FTI).
What have hedge funds been doing with FMC Technologies, Inc. (NYSE:FTI)?
Heading into Q3, a total of 16 of the hedge funds we track were long in this stock, a change of 14% from the first quarter. With hedge funds’ positions undergoing their usual ebb and flow, there exists a few key hedge fund managers who were increasing their stakes meaningfully.
As aggregate interest spiked, certain bigger names were leading the bulls’ herd. First Pacific Advisors LLC, managed by Robert Rodriguez and Steven Romick, initiated the largest position in FMC Technologies, Inc. (NYSE:FTI). First Pacific Advisors LLC had 40.2 million invested in the company at the end of the quarter. Ken Griffin’s Citadel Investment Group also initiated a $25.9 million position during the quarter. The other funds with brand new FTI positions are Charles Clough’s Clough Capital Partners, Andrew Sandler’s Sandler Capital Management, and Ken Fisher’s Fisher Asset Management.
How are insiders trading FMC Technologies, Inc. (NYSE:FTI)?
Legal insider trading, particularly when it’s bullish, is particularly usable when the company we’re looking at has experienced transactions within the past 180 days. Over the last six-month time period, FMC Technologies, Inc. (NYSE:FTI) has seen zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).
We’ll also take a look at the relationship between both of these indicators in other stocks similar to FMC Technologies, Inc. (NYSE:FTI). These stocks are Core Laboratories N.V. (NYSE:CLB), Oceaneering International (NYSE:OII), Baker Hughes Incorporated (NYSE:BHI), Weatherford International Ltd (NYSE:WFT), and Cameron International Corporation (NYSE:CAM). This group of stocks are in the oil & gas equipment & services industry and their market caps resemble FTI’s market cap.
| Company Name | # of Hedge Funds | # of Insiders Buying | # of Insiders Selling |
| Core Laboratories N.V. (NYSE:CLB) | 11 | 0 | 0 |
| Oceaneering International (NYSE:OII) | 23 | 0 | 0 |
| Baker Hughes Incorporated (NYSE:BHI) | 32 | 0 | 0 |
| Weatherford International Ltd (NYSE:WFT) | 28 | 0 | 0 |
| Cameron International Corporation (NYSE:CAM) | 33 | 0 | 0 |
Using the returns explained by our tactics, regular investors should always pay attention to hedge fund and insider trading sentiment, and FMC Technologies, Inc. (NYSE:FTI) applies perfectly to this mantra.
