NEW YORK (

TheStreet

) --

FMC Technologies

(NYSE:

FTI

) hit a new 52-week high Wednesday as it is currently trading at $51.40, above its previous 52-week high of $50.33 with 142,441 shares traded as of 9:36 a.m. ET. Average volume has been 2.6 million shares over the past 30 days.

FMC has a market cap of $11.05 billion and is part of the

basic materials

sector and

energy

industry. Shares are up 11.3% year to date as of the close of trading on Tuesday.

FMC Technologies, Inc. provides technology solutions for the energy industry worldwide. It operates in two segments, Energy Production Systems and Energy Processing Systems. The company has a P/E ratio of 29.6, below the average energy industry P/E ratio of 31.5 and above the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates FMC as a

buy

. The company's strengths can be seen in multiple areas, such as its growth in earnings per share, increase in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value. You can view the full

FMC Ratings Report

.

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