Fairpointe Capital LLC lowered its stake in shares of FMC Corporation (NYSE:FMC) by 21.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,574,974 shares of the basic materials company’s stock after selling 418,215 shares during the period. FMC Corporation accounts for about 2.3% of Fairpointe Capital LLC’s investment portfolio, making the stock its 18th largest position. Fairpointe Capital LLC owned about 1.17% of FMC Corporation worth $115,052,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its position in shares of FMC Corporation by 7.7% during the first quarter. Dimensional Fund Advisors LP now owns 515,431 shares of the basic materials company’s stock valued at $35,840,000 after buying an additional 37,011 shares during the last quarter. KCG Holdings Inc. raised its position in shares of FMC Corporation by 3.9% during the first quarter. KCG Holdings Inc. now owns 22,879 shares of the basic materials company’s stock valued at $1,592,000 after buying an additional 860 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of FMC Corporation by 1.3% during the first quarter. Alliancebernstein L.P. now owns 247,449 shares of the basic materials company’s stock valued at $17,220,000 after buying an additional 3,144 shares during the last quarter. Crawford Lake Capital Management LLC bought a new stake in FMC Corporation in the first quarter worth $2,029,000. Finally, Aviance Capital Management LLC bought a new stake in FMC Corporation in the first quarter worth $200,000. Hedge funds and other institutional investors own 90.46% of the company’s stock.
Several equities research analysts recently weighed in on FMC shares. Zacks Investment Research upgraded shares of FMC Corporation from a “hold” rating to a “strong-buy” rating and set a $103.00 price target on the stock in a research report on Tuesday, October 3rd. Piper Jaffray Companies restated a “hold” rating and issued a $85.00 price target on shares of FMC Corporation in a research report on Tuesday, September 5th. KeyCorp reaffirmed a “buy” rating and set a $98.00 price objective on shares of FMC Corporation in a research note on Wednesday, October 4th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $83.00 price objective on shares of FMC Corporation in a research note on Wednesday, July 12th. Finally, Credit Suisse Group set a $93.00 price objective on shares of FMC Corporation and gave the stock a “buy” rating in a research note on Thursday, August 3rd. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $88.24.
In related news, VP Andrea E. Utecht sold 14,174 shares of the firm’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $84.00, for a total value of $1,190,616.00. Following the sale, the vice president now directly owns 131,639 shares in the company, valued at approximately $11,057,676. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.10% of the stock is owned by company insiders.
Shares of FMC Corporation (NYSE FMC) traded down 0.24% during midday trading on Wednesday, reaching $94.19. The company had a trading volume of 286,440 shares. The company’s 50 day moving average price is $89.03 and its 200 day moving average price is $79.26. FMC Corporation has a 52-week low of $45.91 and a 52-week high of $95.08. The stock has a market capitalization of $12.63 billion, a PE ratio of 279.50 and a beta of 1.61.
FMC Corporation (NYSE:FMC) last announced its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.01. FMC Corporation had a return on equity of 16.51% and a net margin of 1.58%. The business had revenue of $656.80 million for the quarter, compared to analysts’ expectations of $614.01 million. During the same period in the prior year, the firm earned $0.46 EPS. The business’s quarterly revenue was up 6.7% on a year-over-year basis. Equities research analysts expect that FMC Corporation will post $2.43 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 19th. Investors of record on Friday, September 29th will be given a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 0.70%. The ex-dividend date of this dividend is Thursday, September 28th. FMC Corporation’s dividend payout ratio is currently 188.58%.
FMC Corporation Company Profile
FMC Corporation is a diversified chemical company serving agricultural, consumer and industrial markets. The Company operates in three business segments: FMC Agricultural Solutions, FMC Health and Nutrition, and FMC Lithium. As of December 31, 2016, the FMC Agricultural Solutions segment developed, marketed and sold three classes of crop protection chemicals: insecticides, herbicides and fungicides.
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