State of Alaska Department of Revenue increased its position in shares of FMC Corp (NYSE:FMC) by 0.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,673 shares of the basic materials company’s stock after acquiring an additional 176 shares during the quarter. State of Alaska Department of Revenue’s holdings in FMC were worth $2,046,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Strategic Advisors LLC purchased a new stake in FMC during the second quarter worth about $467,000. Weybosset Research & Management LLC increased its stake in FMC by 0.7% during the second quarter. Weybosset Research & Management LLC now owns 86,887 shares of the basic materials company’s stock worth $7,207,000 after purchasing an additional 599 shares during the period. Cerebellum GP LLC purchased a new stake in FMC during the second quarter worth about $360,000. Robeco Institutional Asset Management B.V. increased its stake in FMC by 97.4% during the second quarter. Robeco Institutional Asset Management B.V. now owns 58,754 shares of the basic materials company’s stock worth $4,875,000 after purchasing an additional 28,997 shares during the period. Finally, Moors & Cabot Inc. increased its stake in FMC by 8.1% during the second quarter. Moors & Cabot Inc. now owns 6,393 shares of the basic materials company’s stock worth $532,000 after purchasing an additional 477 shares during the period. 89.74% of the stock is currently owned by hedge funds and other institutional investors.
Shares of FMC stock traded up $0.86 during trading hours on Friday, reaching $85.92. 1,034,948 shares of the stock were exchanged, compared to its average volume of 873,219. The stock has a fifty day moving average price of $83.53. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.27 and a quick ratio of 0.92. FMC Corp has a 12-month low of $69.36 and a 12-month high of $92.76. The stock has a market cap of $11.09 billion, a price-to-earnings ratio of 13.66, a P/E/G ratio of 1.37 and a beta of 1.49.
FMC (NYSE:FMC) last released its earnings results on Tuesday, July 30th. The basic materials company reported $1.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.03. FMC had a net margin of 10.65% and a return on equity of 27.33%. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period in the prior year, the firm earned $1.78 earnings per share. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. As a group, research analysts predict that FMC Corp will post 5.79 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Monday, September 30th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend is Friday, September 27th. FMC’s dividend payout ratio (DPR) is 25.44%.
A number of analysts have issued reports on FMC shares. Zacks Investment Research upgraded shares of FMC from a “hold” rating to a “buy” rating and set a $77.00 price target on the stock in a research note on Monday, June 3rd. SunTrust Banks boosted their price target on shares of FMC to $98.00 and gave the stock a “buy” rating in a research note on Thursday. Morgan Stanley assumed coverage on shares of FMC in a research note on Monday, May 20th. They set an “equal weight” rating and a $82.00 price target on the stock. Goldman Sachs Group lowered shares of FMC from a “buy” rating to a “neutral” rating in a research note on Friday. Finally, Credit Suisse Group upped their target price on shares of FMC from $97.00 to $102.00 and gave the stock an “outperform” rating in a research note on Thursday. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $95.62.
In related news, insider Nicholas Pfeiffer sold 2,446 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $80.67, for a total value of $197,318.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mark Douglas sold 18,500 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $75.12, for a total value of $1,389,720.00. Following the completion of the transaction, the insider now directly owns 47,594 shares of the company’s stock, valued at $3,575,261.28. The disclosure for this sale can be found here. Insiders sold 53,946 shares of company stock valued at $3,999,009 over the last ninety days. 1.50% of the stock is currently owned by corporate insiders.
FMC Company Profile
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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