Wells Fargo & Company MN cut its holdings in shares of FMC Corp (NYSE:FMC) by 28.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 277,020 shares of the basic materials company’s stock after selling 111,794 shares during the quarter. Wells Fargo & Company MN owned about 0.21% of FMC worth $24,740,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Third Point LLC lifted its position in FMC by 10.0% during the third quarter. Third Point LLC now owns 2,200,000 shares of the basic materials company’s stock worth $196,482,000 after buying an additional 200,000 shares during the period. Legal & General Group Plc raised its holdings in shares of FMC by 2.3% in the 3rd quarter. Legal & General Group Plc now owns 673,069 shares of the basic materials company’s stock worth $60,107,000 after purchasing an additional 14,836 shares during the period. New York State Common Retirement Fund raised its holdings in shares of FMC by 7.1% in the 2nd quarter. New York State Common Retirement Fund now owns 327,500 shares of the basic materials company’s stock worth $23,924,000 after purchasing an additional 21,799 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of FMC by 134.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 288,014 shares of the basic materials company’s stock worth $25,334,000 after purchasing an additional 165,136 shares during the period. Finally, Nationwide Fund Advisors raised its holdings in shares of FMC by 12.0% in the 3rd quarter. Nationwide Fund Advisors now owns 278,929 shares of the basic materials company’s stock worth $24,911,000 after purchasing an additional 29,858 shares during the period. Hedge funds and other institutional investors own 89.34% of the company’s stock.
In other FMC news, insider Nicholas Pfeiffer sold 375 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $90.33, for a total transaction of $33,873.75. Following the completion of the sale, the insider now owns 6,856 shares in the company, valued at approximately $619,302.48. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.10% of the stock is owned by company insiders.
Shares of FMC Corp (FMC) opened at $92.20 on Friday. The company has a quick ratio of 1.81, a current ratio of 2.19 and a debt-to-equity ratio of 0.70. FMC Corp has a 12 month low of $56.35 and a 12 month high of $95.25. The stock has a market capitalization of $12,064.76, a PE ratio of 36.09, a PEG ratio of 3.01 and a beta of 1.61.
FMC (NYSE:FMC) last posted its earnings results on Monday, November 6th. The basic materials company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. FMC had a return on equity of 16.77% and a net margin of 0.78%. The business had revenue of $646.20 million during the quarter, compared to analyst estimates of $686.21 million. During the same quarter last year, the firm earned $0.67 earnings per share. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year. analysts expect that FMC Corp will post 2.65 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 18th. Shareholders of record on Friday, December 29th will be paid a dividend of $0.165 per share. The ex-dividend date is Thursday, December 28th. This represents a $0.66 dividend on an annualized basis and a yield of 0.72%. FMC’s dividend payout ratio (DPR) is presently 388.24%.
A number of research firms have recently commented on FMC. KeyCorp restated a “buy” rating and issued a $112.00 price objective on shares of FMC in a report on Monday, December 4th. Stephens began coverage on FMC in a report on Monday, December 4th. They issued an “equal weight” rating and a $91.00 price objective on the stock. Loop Capital set a $106.00 price objective on FMC and gave the stock a “buy” rating in a report on Monday, December 11th. Goldman Sachs Group began coverage on FMC in a report on Monday, December 4th. They issued a “neutral” rating and a $98.00 price objective on the stock. Finally, BMO Capital Markets raised their price objective on FMC from $80.00 to $90.00 and gave the stock a “market perform” rating in a report on Wednesday, November 8th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the company. FMC presently has a consensus rating of “Buy” and a consensus target price of $92.80.
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FMC Corporation is a diversified chemical company serving agricultural, consumer and industrial markets. The Company operates in three business segments: FMC Agricultural Solutions, FMC Health and Nutrition, and FMC Lithium. As of December 31, 2016, the FMC Agricultural Solutions segment developed, marketed and sold three classes of crop protection chemicals: insecticides, herbicides and fungicides.
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