Schwab Charles Investment Management Inc. Boosts Position in Franks International NV (NYSE:FI)

Schwab Charles Investment Management Inc. increased its position in Franks International NV (NYSE:FI) by 6.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 265,543 shares of the pipeline company’s stock after purchasing an additional 15,234 shares during the period. Schwab Charles Investment Management Inc. owned 0.12% of Franks International worth $2,050,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of FI. Rhumbline Advisers raised its stake in shares of Franks International by 53.0% during the 2nd quarter. Rhumbline Advisers now owns 57,961 shares of the pipeline company’s stock worth $480,000 after buying an additional 20,084 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Franks International by 48.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 287,240 shares of the pipeline company’s stock worth $2,382,000 after buying an additional 93,612 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Franks International by 567.8% during the 2nd quarter. Legal & General Group Plc now owns 14,305 shares of the pipeline company’s stock worth $118,000 after buying an additional 12,163 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Franks International by 437.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 272,012 shares of the pipeline company’s stock worth $2,255,000 after buying an additional 221,442 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake in shares of Franks International by 48.8% during the 2nd quarter. Alliancebernstein L.P. now owns 63,100 shares of the pipeline company’s stock worth $523,000 after buying an additional 20,681 shares in the last quarter. 31.49% of the stock is owned by hedge funds and other institutional investors.

Franks International NV (NYSE:FI) traded down $0.02 during mid-day trading on Friday, hitting $5.98. The stock had a trading volume of 1,119,013 shares, compared to its average volume of 787,327. The firm has a market capitalization of $1,330.00, a PE ratio of -11.28 and a beta of 1.11. Franks International NV has a 1-year low of $5.72 and a 1-year high of $12.82.

A number of equities analysts have recently issued reports on FI shares. Jefferies Group reissued a “hold” rating and set a $8.00 target price on shares of Franks International in a research note on Monday, October 16th. Piper Jaffray Companies restated a “hold” rating on shares of Franks International in a report on Sunday, October 22nd. Scotiabank restated a “hold” rating and issued a $12.00 price target on shares of Franks International in a report on Friday, November 3rd. Credit Suisse Group cut Franks International from a “neutral” rating to an “underperform” rating in a report on Tuesday, November 7th. Finally, Zacks Investment Research upgraded Franks International from a “sell” rating to a “hold” rating in a report on Tuesday, November 7th. Six investment analysts have rated the stock with a sell rating, nine have issued a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $7.61.

In other Franks International news, major shareholder Michael Frank Mosing sold 800,000 shares of the firm’s stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $5.62, for a total value of $4,496,000.00. Following the transaction, the insider now directly owns 803,735 shares of the company’s stock, valued at $4,516,990.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder William Bradford Mosing sold 198,101 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $6.18, for a total value of $1,224,264.18. Following the completion of the transaction, the insider now directly owns 1,311,062 shares in the company, valued at $8,102,363.16. The disclosure for this sale can be found here. Insiders sold a total of 4,401,592 shares of company stock worth $26,909,237 over the last ninety days. Corporate insiders own 77.90% of the company’s stock.

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Franks International Profile

Frank’s International N.V. (FINV) is a provider of engineered tubular services, tubular fabrication and specialty well construction and well intervention solutions to the oil and gas industry. The Company operates through four business segments: International Services, U. S. Services, Tubular Sales and Blackhawk.

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

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