Strategic Blueprint LLC Sells 13,893 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Strategic Blueprint LLC cut its holdings in Freeport-McMoRan Inc. (NYSE:FCX – Get Rating) by 10.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 120,830 shares of the natural resource company’s stock after selling 13,893 shares during the quarter. Strategic Blueprint LLC’s holdings in Freeport-McMoRan were worth $3,302,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Diamond Hill Capital Management Inc. boosted its stake in Freeport-McMoRan by 6.5% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 13,835,095 shares of the natural resource company’s stock worth $378,113,000 after purchasing an additional 848,024 shares during the period. Fisher Asset Management LLC lifted its holdings in shares of Freeport-McMoRan by 2.1% in the third quarter. Fisher Asset Management LLC now owns 53,167,066 shares of the natural resource company’s stock valued at $1,453,056,000 after purchasing an additional 1,099,150 shares in the last quarter. NBT Bank N A NY boosted its position in shares of Freeport-McMoRan by 7.0% during the third quarter. NBT Bank N A NY now owns 8,055 shares of the natural resource company’s stock worth $220,000 after buying an additional 527 shares during the period. LeJeune Puetz Investment Counsel LLC grew its holdings in shares of Freeport-McMoRan by 10.7% during the third quarter. LeJeune Puetz Investment Counsel LLC now owns 33,919 shares of the natural resource company’s stock worth $927,000 after buying an additional 3,275 shares in the last quarter. Finally, Signaturefd LLC raised its position in Freeport-McMoRan by 15.7% in the 3rd quarter. Signaturefd LLC now owns 23,844 shares of the natural resource company’s stock valued at $652,000 after buying an additional 3,239 shares during the last quarter. 77.12% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on FCX shares. Royal Bank of Canada raised their price target on shares of Freeport-McMoRan from $40.00 to $47.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 26th. Citigroup raised their target price on shares of Freeport-McMoRan from $44.00 to $46.00 and gave the company a “neutral” rating in a research report on Thursday, January 26th. Barclays cut their price target on shares of Freeport-McMoRan to $23.00 in a research report on Thursday, October 20th. BNP Paribas downgraded Freeport-McMoRan from an “outperform” rating to a “neutral” rating and set a $29.00 target price on the stock. in a research report on Thursday, October 6th. Finally, TheStreet raised Freeport-McMoRan from a “c” rating to a “b” rating in a research report on Wednesday, January 25th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Freeport-McMoRan currently has a consensus rating of “Hold” and a consensus price target of $41.00.

Freeport-McMoRan Stock Performance

NYSE FCX traded down $1.29 during trading on Thursday, reaching $43.52. The company’s stock had a trading volume of 5,625,479 shares, compared to its average volume of 13,087,840. The firm has a 50 day moving average price of $40.80 and a 200 day moving average price of $34.34. Freeport-McMoRan Inc. has a 12 month low of $24.80 and a 12 month high of $51.99. The firm has a market capitalization of $62.20 billion, a price-to-earnings ratio of 18.91 and a beta of 2.01. The company has a current ratio of 2.46, a quick ratio of 1.64 and a debt-to-equity ratio of 0.39.

Freeport-McMoRan (NYSE:FCX – Get Rating) last issued its quarterly earnings results on Wednesday, January 25th. The natural resource company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.12. The business had revenue of $5.75 billion for the quarter, compared to the consensus estimate of $5.42 billion. Freeport-McMoRan had a return on equity of 14.59% and a net margin of 15.22%. The firm’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.96 earnings per share. As a group, equities analysts anticipate that Freeport-McMoRan Inc. will post 2.04 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 1st. Stockholders of record on Friday, January 13th were given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.38%. The ex-dividend date was Thursday, January 12th. Freeport-McMoRan’s payout ratio is presently 12.66%.

Insider Activity

In related news, VP Douglas N. Currault II sold 75,000 shares of the stock in a transaction that occurred on Friday, December 2nd. The shares were sold at an average price of $40.25, for a total transaction of $3,018,750.00. Following the sale, the vice president now owns 136,432 shares in the company, valued at approximately $5,491,388. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.72% of the company’s stock.

Freeport-McMoRan Profile

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Freeport-McMoRan, Inc engages in the mining of copper, gold, and molybdenum. It operates through the following segments: North America Copper Mines, South America Mining, Indonesia Mining, Molybdenum Mines, Rod and Refining, Atlantic Copper Smelting and Refining and Corporate, Other and Eliminations.