JPMorgan Chase & Co. reduced its stake in FMC Corp (NYSE:FMC) by 27.7% during the first quarter, HoldingsChannel reports. The firm owned 1,285,206 shares of the basic materials company’s stock after selling 491,727 shares during the quarter. JPMorgan Chase & Co.’s holdings in FMC were worth $98,730,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently bought and sold shares of FMC. Vanguard Group Inc boosted its position in FMC by 0.4% during the 3rd quarter. Vanguard Group Inc now owns 14,445,070 shares of the basic materials company’s stock worth $1,259,321,000 after buying an additional 62,905 shares during the period. BlackRock Inc. raised its holdings in FMC by 3.5% during the 4th quarter. BlackRock Inc. now owns 9,284,039 shares of the basic materials company’s stock worth $686,649,000 after purchasing an additional 315,427 shares during the last quarter. Boston Partners raised its holdings in FMC by 12.4% during the 1st quarter. Boston Partners now owns 6,486,738 shares of the basic materials company’s stock worth $498,311,000 after purchasing an additional 717,477 shares during the last quarter. King Luther Capital Management Corp raised its holdings in FMC by 4.2% during the 4th quarter. King Luther Capital Management Corp now owns 2,653,737 shares of the basic materials company’s stock worth $196,270,000 after purchasing an additional 107,078 shares during the last quarter. Finally, Northern Trust Corp raised its holdings in FMC by 3.8% during the 4th quarter. Northern Trust Corp now owns 2,445,446 shares of the basic materials company’s stock worth $180,865,000 after purchasing an additional 89,245 shares during the last quarter. Institutional investors own 89.72% of the company’s stock.
Shares of FMC stock opened at $70.92 on Friday. The firm has a market cap of $9.34 billion, a price-to-earnings ratio of 11.28, a price-to-earnings-growth ratio of 1.19 and a beta of 1.49. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.26 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 company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend is Thursday, June 27th. FMC’s dividend payout ratio is 25.44%.
Several research analysts have issued reports on FMC shares. Loop Capital lowered their price target on shares of FMC from $118.00 to $101.00 and set a “buy” rating for the company in a report on Sunday, March 3rd. ValuEngine upgraded shares of FMC from a “hold” rating to a “buy” rating in a research note on Friday, March 1st. Stephens set a $95.00 price target on shares of FMC and gave the company a “buy” rating in a research note on Thursday, February 28th. KeyCorp decreased their price target on shares of FMC from $112.00 to $105.00 and set a “buy” rating for the company in a research note on Thursday, February 14th. Finally, Citigroup set a $94.00 price target on shares of FMC and gave the company a “buy” rating in a research note on Thursday, February 14th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $95.25.
In related news, CEO Pierre R. Brondeau sold 33,000 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $73.09, for a total value of $2,411,970.00. Following the transaction, the chief executive officer now directly owns 284,814 shares of the company’s stock, valued at approximately $20,817,055.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mark Douglas sold 18,500 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $75.12, for a total transaction of $1,389,720.00. Following the completion of the transaction, the insider now directly owns 47,594 shares in the company, valued at $3,575,261.28. The disclosure for this sale can be found here. 1.50% of the stock is owned by insiders.
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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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