Rhumbline Advisers trimmed its stake in shares of FMC Corp (NYSE:FMC) by 0.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 243,092 shares of the basic materials company’s stock after selling 289 shares during the quarter. Rhumbline Advisers’ holdings in FMC were worth $17,979,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. First Hawaiian Bank bought a new position in shares of FMC in the third quarter valued at approximately $878,000. SRS Capital Advisors Inc. bought a new position in shares of FMC in the third quarter valued at approximately $125,000. DNB Asset Management AS raised its stake in shares of FMC by 18.4% in the third quarter. DNB Asset Management AS now owns 18,672 shares of the basic materials company’s stock valued at $1,628,000 after acquiring an additional 2,900 shares during the last quarter. US Bancorp DE raised its stake in shares of FMC by 5.5% in the third quarter. US Bancorp DE now owns 21,348 shares of the basic materials company’s stock valued at $1,861,000 after acquiring an additional 1,110 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its stake in shares of FMC by 2.3% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 513,810 shares of the basic materials company’s stock valued at $44,794,000 after acquiring an additional 11,485 shares during the last quarter. 90.89% of the stock is currently owned by institutional investors.
FMC has been the subject of a number of research analyst reports. Credit Suisse Group set a $105.00 target price on shares of FMC and gave the company a “buy” rating in a research note on Monday, December 3rd. Loop Capital started coverage on shares of FMC in a research report on Friday, November 9th. They issued a “buy” rating and a $118.00 price objective for the company. Buckingham Research started coverage on shares of FMC in a research report on Wednesday, November 14th. They issued a “buy” rating and a $106.00 price objective for the company. ValuEngine cut shares of FMC from a “hold” rating to a “sell” rating in a research report on Wednesday, October 17th. Finally, Citigroup started coverage on shares of FMC in a research report on Monday, November 5th. They issued a “buy” rating and a $92.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $102.17.
In related news, Director Eduardo E. Cordeiro acquired 3,500 shares of the company’s stock in a transaction that occurred on Thursday, December 20th. The stock was purchased at an average price of $71.90 per share, for a total transaction of $251,650.00. Following the transaction, the director now directly owns 21,645 shares of the company’s stock, valued at approximately $1,556,275.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.20% of the company’s stock.
FMC stock opened at $84.55 on Monday. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.54 and a quick ratio of 1.10. FMC Corp has a fifty-two week low of $69.36 and a fifty-two week high of $92.95. The company has a market capitalization of $11.39 billion, a P/E ratio of 31.20, a P/E/G ratio of 1.01 and a beta of 1.49.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 17th. Investors of record on Friday, December 28th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.89%. The ex-dividend date was Thursday, December 27th. This is a boost from FMC’s previous quarterly dividend of $0.17. FMC’s payout ratio is 59.04%.
FMC announced that its Board of Directors has approved a stock repurchase plan on Monday, December 3rd that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the basic materials company to reacquire up to 9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.
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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