FMC Technologies, Inc. (FTI) Still Trending Lower Following Weak Results

What does the smart money think about FMC Technologies, Inc. (NYSE:FTI)?

According to hedge fund experts at Insider Monkey, Ken Griffin’s Citadel Investment Group had the number one position in FMC Technologies, Inc. (NYSE:FTI), worth close to $167.6 million, amounting to 0.2% of its total 13F portfolio. The second-most bullish hedge fund manager is Millennium Management, led by Israel Englander, holding a $118.1 million position; 0.2% of its 13F portfolio is allocated to the company. Further peers that hold long positions comprise Steve Cohen’s Point72 Asset Management, Jim Simons‘ Renaissance Technologies and David E. Shaw’s D E Shaw.

With a general bullishness amongst the heavyweights, key money managers were leading the bulls’ herd. Soros Fund Management, managed by George Soros, established the biggest position in FMC Technologies, Inc. (NYSE:FTI). Soros Fund Management had $27.2 million invested in the company at the end of the quarter. Andrew Feldstein and Stephen Siderow’s Blue Mountain Capital also made an $11.5 million investment in the stock during the quarter. The following funds were also among the new FMC investors: David Costen Haley’s HBK Investments, Peter Rathjens, Bruce Clarke, and John Campbell’s Arrowstreet Capital, and Noam Gottesman’s GLG Partners.

Considering hedge fund and insider activity as well as the company’s performance during the second quarter, the stock only appears to be a good investment for those looking at longer-term positions.

Disclosure: None