Rhumbline Advisers boosted its stake in shares of Franks International NV (NYSE:FI) by 52.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 70,914 shares of the pipeline company’s stock after buying an additional 24,262 shares during the period. Rhumbline Advisers’ holdings in Franks International were worth $553,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Massachusetts Financial Services Co. MA grew its position in Franks International by 4.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 6,979,405 shares of the pipeline company’s stock valued at $54,440,000 after acquiring an additional 316,479 shares during the period. Wedge Capital Management L L P NC grew its position in Franks International by 22.6% in the second quarter. Wedge Capital Management L L P NC now owns 1,647,862 shares of the pipeline company’s stock valued at $12,853,000 after acquiring an additional 304,158 shares during the period. Dimensional Fund Advisors LP grew its position in Franks International by 12.3% in the first quarter. Dimensional Fund Advisors LP now owns 878,010 shares of the pipeline company’s stock valued at $4,768,000 after acquiring an additional 96,478 shares during the period. Silchester International Investors LLP grew its position in Franks International by 52.8% in the first quarter. Silchester International Investors LLP now owns 423,554 shares of the pipeline company’s stock valued at $2,300,000 after acquiring an additional 146,325 shares during the period. Finally, Comerica Bank grew its holdings in shares of Franks International by 19.7% during the second quarter. Comerica Bank now owns 301,848 shares of the pipeline company’s stock worth $2,532,000 after purchasing an additional 49,734 shares during the last quarter. 34.10% of the stock is currently owned by institutional investors.

NYSE:FI traded down $0.07 during mid-day trading on Friday, hitting $8.01. The company had a trading volume of 713,773 shares, compared to its average volume of 855,195. The firm has a market capitalization of $1.95 billion, a price-to-earnings ratio of -13.13 and a beta of 1.20. Franks International NV has a fifty-two week low of $4.93 and a fifty-two week high of $9.75.

Franks International (NYSE:FI) last released its quarterly earnings results on Wednesday, August 8th. The pipeline company reported ($0.12) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.12). The company had revenue of $132.09 million for the quarter, compared to analyst estimates of $121.91 million. Franks International had a negative return on equity of 13.50% and a negative net margin of 36.85%. Franks International’s revenue was up 12.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.12) earnings per share. As a group, sell-side analysts expect that Franks International NV will post -0.47 EPS for the current year.

In other Franks International news, major shareholder Melanie Christine Mosing sold 200,000 shares of the firm’s stock in a transaction that occurred on Monday, September 24th. The stock was sold at an average price of $8.36, for a total value of $1,672,000.00. Following the completion of the transaction, the insider now directly owns 11,340,410 shares in the company, valued at $94,805,827.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder William Bradford Mosing sold 101,302 shares of the firm’s stock in a transaction that occurred on Friday, August 10th. The shares were sold at an average price of $8.85, for a total value of $896,522.70. Following the completion of the transaction, the insider now owns 7,128,464 shares of the company’s stock, valued at $63,086,906.40. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,742,862 shares of company stock worth $47,062,747. 67.60% of the stock is currently owned by insiders.

FI has been the topic of several research analyst reports. Royal Bank of Canada restated a “buy” rating and set a $11.00 target price on shares of Franks International in a report on Thursday, August 9th. Jefferies Financial Group restated a “hold” rating and set a $9.00 target price on shares of Franks International in a report on Thursday, August 9th. ValuEngine upgraded Franks International from a “hold” rating to a “buy” rating in a report on Monday, July 30th. Tudor Pickering cut Franks International from a “buy” rating to a “hold” rating in a report on Tuesday, August 28th. Finally, Barclays reiterated a “hold” rating and issued a $7.00 price target on shares of Franks International in a report on Monday, August 13th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $8.68.

About Franks International

Frank's International N.V. provides various engineered tubular services for the oil and gas exploration and production, and oilfield services companies in the United States, Europe, the Middle East, Africa, Latin America, the Asia Pacific, and internationally. The company operates through four segments: International Services, U.S.

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Institutional Ownership by Quarter for Franks International (NYSE:FI)

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