Arizona State Retirement System decreased its position in FMC Corp (NYSE:FMC) by 17.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,667 shares of the basic materials company’s stock after selling 5,702 shares during the quarter. Arizona State Retirement System’s holdings in FMC were worth $2,046,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. boosted its position in FMC by 15.3% during the second quarter. Advisors Asset Management Inc. now owns 43,495 shares of the basic materials company’s stock valued at $3,880,000 after acquiring an additional 5,766 shares during the last quarter. DNB Asset Management AS boosted its position in shares of FMC by 18.4% during the 3rd quarter. DNB Asset Management AS now owns 18,672 shares of the basic materials company’s stock worth $1,628,000 after purchasing an additional 2,900 shares in the last quarter. Bank of Montreal Can boosted its position in shares of FMC by 30.7% during the 3rd quarter. Bank of Montreal Can now owns 65,778 shares of the basic materials company’s stock worth $5,733,000 after purchasing an additional 15,466 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its position in shares of FMC by 684.2% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 149,000 shares of the basic materials company’s stock worth $12,989,000 after purchasing an additional 130,000 shares in the last quarter. Finally, First Hawaiian Bank bought a new position in shares of FMC during the 3rd quarter worth about $878,000. Hedge funds and other institutional investors own 90.89% of the company’s stock.
In other FMC news, Director Eduardo E. Cordeiro purchased 3,500 shares of the company’s stock in a transaction that occurred on Thursday, December 20th. The shares were acquired at an average price of $71.90 per share, with a total value of $251,650.00. Following the transaction, the director now owns 21,645 shares in the company, valued at $1,556,275.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.20% of the stock is currently owned by company insiders.
A number of equities analysts have recently issued reports on the stock. Credit Suisse Group reissued a “buy” rating and set a $114.00 price objective on shares of FMC in a research report on Friday, February 1st. Zacks Investment Research cut shares of FMC from a “hold” rating to a “sell” rating in a research report on Monday, February 4th. ValuEngine cut shares of FMC from a “hold” rating to a “sell” rating in a research report on Wednesday, October 17th. Citigroup set a $94.00 price objective on shares of FMC and gave the stock a “buy” rating in a research report on Thursday. Finally, Nomura increased their price objective on shares of FMC from $90.00 to $93.00 and gave the stock a “buy” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. FMC currently has an average rating of “Buy” and an average target price of $100.75.
Shares of NYSE FMC opened at $84.29 on Thursday. FMC Corp has a fifty-two week low of $69.36 and a fifty-two week high of $92.95. The stock has a market capitalization of $11.39 billion, a P/E ratio of 31.10, a price-to-earnings-growth ratio of 1.01 and a beta of 1.49. The company has a current ratio of 1.54, a quick ratio of 1.10 and a debt-to-equity ratio of 0.84.
FMC (NYSE:FMC) last announced its quarterly earnings results on Monday, February 11th. The basic materials company reported $1.69 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.64 by $0.05. FMC had a net margin of 22.28% and a return on equity of 26.26%. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter last year, the firm earned $1.10 EPS. As a group, sell-side analysts expect that FMC Corp will post 6.05 earnings per share for the current year.
FMC declared that its Board of Directors has authorized a stock buyback plan on Monday, December 3rd that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the basic materials company to buy up to 9% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Thursday, January 17th. Investors of record on Friday, December 28th were given a $0.40 dividend. This is a boost from FMC’s previous quarterly dividend of $0.17. The ex-dividend date was Thursday, December 27th. This represents a $1.60 annualized dividend and a yield of 1.90%. FMC’s dividend payout ratio (DPR) is presently 59.04%.
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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