Addison Capital Co reduced its position in shares of FMC Corp (NYSE:FMC) by 2.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,473 shares of the basic materials company’s stock after selling 627 shares during the period. FMC accounts for approximately 1.2% of Addison Capital Co’s portfolio, making the stock its 24th largest position. Addison Capital Co’s holdings in FMC were worth $1,781,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of the company. Millennium Management LLC lifted its holdings in FMC by 548.6% in the fourth quarter. Millennium Management LLC now owns 866,479 shares of the basic materials company’s stock worth $64,085,000 after buying an additional 1,059,618 shares during the period. Norges Bank purchased a new stake in FMC in the fourth quarter worth about $64,447,000. Boston Partners lifted its holdings in FMC by 12.4% in the first quarter. Boston Partners now owns 6,486,738 shares of the basic materials company’s stock worth $498,311,000 after buying an additional 717,477 shares during the period. Northern Trust Corp lifted its holdings in FMC by 11.0% in the first quarter. Northern Trust Corp now owns 2,713,988 shares of the basic materials company’s stock worth $208,489,000 after buying an additional 268,542 shares during the period. Finally, Retirement Systems of Alabama lifted its holdings in FMC by 387.4% in the second quarter. Retirement Systems of Alabama now owns 305,610 shares of the basic materials company’s stock worth $25,350,000 after buying an additional 242,908 shares during the period. Institutional investors own 89.93% of the company’s stock.
In related news, insider Mark Douglas sold 18,500 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $75.12, for a total value of $1,389,720.00. Following the sale, the insider now owns 47,594 shares in the company, valued at $3,575,261.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Nicholas Pfeiffer sold 2,446 shares of the firm’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $80.67, for a total transaction of $197,318.82. The disclosure for this sale can be found here. Insiders have sold 53,946 shares of company stock valued at $3,999,009 in the last three months. 1.50% of the stock is owned by insiders.
Shares of FMC traded up $0.51 on Tuesday, hitting $84.89. 666,587 shares of the stock traded hands, compared to its average volume of 1,048,371. The stock has a market cap of $11.22 billion, a P/E ratio of 13.50, a PEG ratio of 1.34 and a beta of 1.51. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.26 and a quick ratio of 0.92. The firm has a 50 day simple moving average of $82.12. FMC Corp has a one year low of $69.36 and a one year high of $92.76.
FMC (NYSE:FMC) last announced its quarterly earnings results on Monday, May 6th. The basic materials company reported $1.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.62 by $0.10. The company had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.19 billion. FMC had a net margin of 9.57% and a return on equity of 27.53%. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the firm earned $1.84 earnings per share. On average, equities research analysts forecast that FMC Corp will post 5.75 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Monday, September 30th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.88%. The ex-dividend date is Friday, September 27th. FMC’s dividend payout ratio (DPR) is currently 25.44%.
A number of equities analysts have weighed in on FMC shares. Royal Bank of Canada reaffirmed a “neutral” rating and set a $145.00 target price on shares of Travelers Companies in a research note on Thursday, April 18th. Citigroup started coverage on shares of Charter Communications in a research note on Thursday, June 13th. They set a “buy” rating and a $480.00 target price for the company. Loop Capital set a $102.00 target price on shares of FMC and gave the company a “buy” rating in a research note on Friday, April 12th. Morgan Stanley raised their target price on shares of United Technologies from $155.00 to $164.00 and gave the company an “overweight” rating in a research note on Monday, May 20th. Finally, KeyCorp set a $37.00 target price on shares of SeaWorld Entertainment and gave the company a “buy” rating in a research note on Friday, April 12th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $93.25.
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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