May 8, 2008 / 7:53 PM / 11 years ago

FMC Technologies chairman sells as stock hits high

NEW YORK, May 8 (Reuters) - The chairman of oilfield services company FMC Technologies Inc (FTI.N) revealed on Thursday that he has sold 50,000 shares of the company, marking his sixth stock sale since the beginning of this year.

Joseph Netherland, in a U.S. Securities and Exchange Commission filing, said he sold the stock on Tuesday for prices ranging from $67.20 per share to $67.41.

Netherland has sold more than 215,000 shares of the company since February, worth nearly $13 million in total, according to filing tracker InsiderScore.com.

FMC Technologies said last month that first-quarter earnings climbed 33 percent as record crude oil prices sparked higher spending by its energy company customers and the stock is up more than 30 percent since the beginning of the year.

Shares of the company were rallying on Thursday, up about 9 percent after hitting an all-time high of $74.59 on the New York Stock Exchange. (Reporting by Emily Chasan; Editing by Brian Moss)

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