DekaBank Deutsche Girozentrale boosted its stake in FMC Corp (NYSE:FMC) by 9.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,054 shares of the basic materials company’s stock after purchasing an additional 617 shares during the period. DekaBank Deutsche Girozentrale’s holdings in FMC were worth $658,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the stock. SRS Capital Advisors Inc. bought a new position in shares of FMC during the third quarter valued at $125,000. Piedmont Investment Advisors LLC bought a new position in shares of FMC during the second quarter valued at $139,000. Moneta Group Investment Advisors LLC bought a new position in shares of FMC during the second quarter valued at $157,000. CSat Investment Advisory L.P. bought a new position in shares of FMC during the second quarter valued at $193,000. Finally, Wedbush Securities Inc. bought a new position in shares of FMC during the second quarter valued at $212,000. 90.07% of the stock is owned by institutional investors and hedge funds.
FMC has been the subject of several analyst reports. Credit Suisse Group initiated coverage on shares of FMC in a research note on Monday, November 5th. They set an “outperform” rating and a $103.00 price target for the company. Buckingham Research initiated coverage on shares of FMC in a research note on Wednesday, November 14th. They set a “buy” rating and a $106.00 price target for the company. Citigroup initiated coverage on shares of FMC in a research note on Monday, November 5th. They set a “buy” rating and a $92.00 price target for the company. Loop Capital initiated coverage on shares of FMC in a research note on Friday, November 9th. They set a “buy” rating and a $118.00 price target for the company. Finally, ValuEngine downgraded shares of FMC from a “hold” rating to a “sell” rating in a research note on Wednesday, October 17th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $102.08.
Shares of NYSE FMC opened at $80.08 on Friday. FMC Corp has a twelve month low of $72.73 and a twelve month high of $98.70. The firm has a market cap of $11.21 billion, a P/E ratio of 29.55, a PEG ratio of 0.89 and a beta of 1.63. The company has a quick ratio of 1.10, a current ratio of 1.54 and a debt-to-equity ratio of 0.84.
FMC (NYSE:FMC) last announced its earnings results on Monday, November 5th. The basic materials company reported $0.98 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.06. FMC had a net margin of 22.28% and a return on equity of 26.26%. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the firm earned $0.70 earnings per share. FMC’s quarterly revenue was up 60.4% on a year-over-year basis. On average, research analysts predict that FMC Corp will post 6 EPS for the current fiscal year.
FMC declared that its Board of Directors has authorized a share repurchase program on Monday, December 3rd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the basic materials company to buy up to 9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 17th. Investors of record on Friday, December 28th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Thursday, December 27th. This is an increase from FMC’s previous quarterly dividend of $0.17. FMC’s dividend payout ratio (DPR) is currently 24.35%.
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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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