Newbrook Capital Advisors LP lowered its stake in FMC Corp (NYSE:FMC) by 22.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 529,510 shares of the basic materials company’s stock after selling 151,538 shares during the period. FMC makes up approximately 3.4% of Newbrook Capital Advisors LP’s holdings, making the stock its 15th largest holding. Newbrook Capital Advisors LP owned about 0.39% of FMC worth $50,123,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in FMC. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of FMC in the fourth quarter worth about $123,000. Assetmark Inc. increased its holdings in shares of FMC by 212.2% in the fourth quarter. Assetmark Inc. now owns 1,489 shares of the basic materials company’s stock worth $141,000 after buying an additional 1,012 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of FMC by 256.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,732 shares of the basic materials company’s stock worth $164,000 after buying an additional 1,246 shares during the period. Two Sigma Securities LLC purchased a new position in shares of FMC in the fourth quarter worth about $203,000. Finally, Roundview Capital LLC purchased a new position in shares of FMC in the fourth quarter worth about $204,000. Hedge funds and other institutional investors own 90.64% of the company’s stock.
Shares of FMC Corp (FMC) opened at $83.78 on Wednesday. The company has a current ratio of 1.65, a quick ratio of 1.20 and a debt-to-equity ratio of 1.11. The firm has a market capitalization of $11,267.65, a P/E ratio of 21.00, a price-to-earnings-growth ratio of 1.37 and a beta of 1.60. FMC Corp has a 12-month low of $59.26 and a 12-month high of $98.70.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 19th. Shareholders of record on Thursday, March 29th will be given a dividend of $0.165 per share. The ex-dividend date is Wednesday, March 28th. This represents a $0.66 annualized dividend and a yield of 0.79%. FMC’s payout ratio is 16.54%.
In other news, insider Mark Douglas sold 10,698 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $84.41, for a total value of $903,018.18. Following the sale, the insider now directly owns 63,191 shares of the company’s stock, valued at approximately $5,333,952.31. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.10% of the company’s stock.
Several research analysts have recently commented on the company. Piper Jaffray Companies set a $90.00 price objective on FMC and gave the stock a “hold” rating in a report on Thursday, February 15th. TheStreet downgraded FMC from a “b” rating to a “c” rating in a report on Monday, February 12th. KeyCorp reiterated a “buy” rating and issued a $112.00 price objective on shares of FMC in a report on Monday, December 4th. Stephens began coverage on FMC in a report on Monday, December 4th. They issued an “equal weight” rating and a $91.00 price objective on the stock. Finally, Loop Capital set a $106.00 price target on FMC and gave the company a “buy” rating in a report on Monday, December 11th. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. FMC currently has a consensus rating of “Buy” and an average target price of $98.37.
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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