Is FMC Technologies, Inc. (NYSE:FTI) a good investment right now? We check hedge fund and billionaire investor sentiment before delving into hours of research. Hedge funds spend millions of dollars on Ivy League graduates, expert networks, and get tips from industry insiders. They fail miserably sometimes, but historically their consensus stock picks outperformed the market after adjusting for known risk factors.
FMC Technologies, Inc. has experienced a decrease in activity from the world’s largest hedge funds of late. FTI was in 32 hedge funds’ portfolios at the end of the third quarter of 2015. There were 37 hedge funds in our database with FTI positions at the end of the previous quarter. At the end of this article we will also compare FTI to other stocks, including Splunk Inc (NASDAQ:SPLK), Pinnacle West Capital Corporation (NYSE:PNW), and Aramark (NYSE:ARMK) to get a better sense of its popularity.
In the 21st century investor’s toolkit there are dozens of tools investors employ to size up stocks. A pair of the most underrated tools are hedge fund and insider trading moves. Our researchers have shown that, historically, those who follow the best picks of the elite hedge fund managers can outperform the market by a healthy margin (see the details here).
Now, we’re going to analyze the recent action surrounding FMC Technologies, Inc. (NYSE:FTI).
How are hedge funds trading FMC Technologies, Inc. (NYSE:FTI)?
Heading into Q4, a total of 32 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of -14% from the second quarter. With hedgies’ capital changing hands, there exists an “upper tier” of notable hedge fund managers who were upping their stakes significantly (or already accumulated large positions).
When looking at the institutional investors followed by Insider Monkey, Citadel Investment Group, managed by Ken Griffin, holds the largest position in FMC Technologies, Inc. (NYSE:FTI). Citadel Investment Group has a $197 million position in the stock, comprising 0.2% of its 13F portfolio. Coming in second is Millennium Management, managed by Israel Englander, which holds a $157.4 million position; 0.3% of its 13F portfolio is allocated to the company. Other professional money managers that hold long positions contain D. E. Shaw’s D E Shaw, Dmitry Balyasny’s Balyasny Asset Management and Anand Parekh’s Alyeska Investment Group.