CoreCommodity Management LLC trimmed its holdings in FMC Corp (NYSE:FMC) by 27.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,800 shares of the basic materials company’s stock after selling 9,030 shares during the quarter. FMC comprises approximately 1.5% of CoreCommodity Management LLC’s portfolio, making the stock its 13th biggest position. CoreCommodity Management LLC’s holdings in FMC were worth $1,760,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc boosted its holdings in FMC by 0.4% in the third quarter. Vanguard Group Inc now owns 14,445,070 shares of the basic materials company’s stock valued at $1,259,321,000 after purchasing an additional 62,905 shares in the last quarter. BlackRock Inc. boosted its holdings in FMC by 3.5% in the fourth quarter. BlackRock Inc. now owns 9,284,039 shares of the basic materials company’s stock valued at $686,649,000 after purchasing an additional 315,427 shares in the last quarter. FMR LLC boosted its holdings in FMC by 2.6% in the third quarter. FMR LLC now owns 6,171,637 shares of the basic materials company’s stock valued at $538,044,000 after purchasing an additional 154,747 shares in the last quarter. Boston Partners boosted its holdings in FMC by 40.9% in the fourth quarter. Boston Partners now owns 5,769,261 shares of the basic materials company’s stock valued at $426,695,000 after purchasing an additional 1,673,988 shares in the last quarter. Finally, King Luther Capital Management Corp boosted its holdings in FMC by 4.2% in the fourth quarter. King Luther Capital Management Corp now owns 2,653,737 shares of the basic materials company’s stock valued at $196,270,000 after purchasing an additional 107,078 shares in the last quarter. 87.70% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Robert C. Pallash sold 6,992 shares of the company’s stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $87.28, for a total transaction of $610,261.76. Following the completion of the sale, the director now owns 37,458 shares in the company, valued at $3,269,334.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eduardo E. Cordeiro purchased 3,500 shares of the business’s stock in a transaction dated Thursday, December 20th. The shares were bought at an average price of $71.90 per share, with a total value of $251,650.00. Following the purchase, the director now directly owns 21,645 shares of the company’s stock, valued at $1,556,275.50. The disclosure for this purchase can be found here. Insiders have sold 131,880 shares of company stock valued at $11,144,839 in the last 90 days. Company insiders own 1.20% of the company’s stock.
Shares of NYSE FMC opened at $77.16 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.35 and a quick ratio of 0.98. FMC Corp has a twelve month low of $69.36 and a twelve month high of $92.95. The company has a market capitalization of $10.33 billion, a price-to-earnings ratio of 12.27, a PEG ratio of 1.28 and a beta of 1.50.
FMC (NYSE:FMC) last issued its quarterly earnings data on Monday, February 11th. The basic materials company reported $1.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.64 by $0.05. FMC had a return on equity of 27.73% and a net margin of 10.62%. The company had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the previous year, the business earned $1.10 earnings per share. As a group, sell-side analysts anticipate that FMC Corp will post 5.67 earnings per share for the current year.
FMC announced that its board has approved a stock buyback program on Monday, December 3rd that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the basic materials company to reacquire up to 9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Thursday, April 18th. Stockholders of record on Friday, March 29th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Thursday, March 28th. FMC’s dividend payout ratio (DPR) is presently 25.44%.
A number of equities research analysts have weighed in on the company. Credit Suisse Group set a $105.00 price objective on FMC and gave the company a “buy” rating in a research note on Monday, December 3rd. Stephens set a $95.00 price objective on FMC and gave the company a “buy” rating in a research note on Thursday, February 28th. ValuEngine upgraded FMC from a “hold” rating to a “buy” rating in a research note on Friday, March 1st. Zacks Investment Research upgraded FMC from a “sell” rating to a “hold” rating in a research note on Wednesday, February 13th. Finally, KeyCorp reduced their price objective on FMC from $112.00 to $105.00 and set a “buy” rating for the company in a research note on Thursday, February 14th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $97.58.
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FMC Corporation, a diversified chemical company, provides solutions, applications, and products for the agricultural, consumer, and industrial markets worldwide. The company operates in two segments, FMC Agricultural Solutions and FMC Lithium. The FMC Agricultural Solutions segment develops, manufactures, markets, and sells crop protection chemicals, including insecticides, herbicides, and fungicides that are used in agriculture to enhance crop yield and quality by controlling a range of insects, weeds, and diseases, as well as in non-agricultural markets for pest control.
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