BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in shares of FMC Corp (NYSE:FMC) by 14.6% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 33,910 shares of the basic materials company’s stock after acquiring an additional 4,332 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in FMC were worth $2,508,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of the company. Nomura Asset Management Co. Ltd. raised its stake in shares of FMC by 11.6% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 20,640 shares of the basic materials company’s stock worth $1,527,000 after buying an additional 2,150 shares during the period. Great West Life Assurance Co. Can raised its stake in shares of FMC by 0.4% during the 4th quarter. Great West Life Assurance Co. Can now owns 82,793 shares of the basic materials company’s stock worth $5,825,000 after buying an additional 328 shares during the period. King Luther Capital Management Corp raised its stake in shares of 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 buying an additional 107,078 shares during the period. New South Capital Management Inc. raised its stake in shares of FMC by 22.2% during the 4th quarter. New South Capital Management Inc. now owns 1,239,530 shares of the basic materials company’s stock worth $91,676,000 after buying an additional 224,793 shares during the period. Finally, Precocity Capital LP raised its stake in shares of FMC by 100.0% during the 4th quarter. Precocity Capital LP now owns 100,000 shares of the basic materials company’s stock worth $7,396,000 after buying an additional 50,000 shares during the period. Institutional investors and hedge funds own 87.70% of the company’s stock.
Shares of FMC opened at $77.24 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.35 and a quick ratio of 0.98. FMC Corp has a one year low of $69.36 and a one year high of $92.95. The company has a market cap of $10.15 billion, a P/E ratio of 12.28, a PEG ratio of 1.28 and a beta of 1.50.
FMC (NYSE:FMC) last issued its quarterly earnings results on Monday, February 11th. The basic materials company reported $1.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.64 by $0.05. FMC had a return on equity of 27.73% and a net margin of 10.62%. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the previous year, the business earned $1.10 earnings per share. As a group, equities analysts predict that FMC Corp will post 5.67 EPS for the current year.
FMC announced that its Board of Directors has approved a stock buyback program on Monday, December 3rd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the basic materials company to purchase up to 9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 18th. Investors of record on Friday, March 29th will be given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Thursday, March 28th. FMC’s payout ratio is 25.44%.
In related news, VP Andrea E. Utecht sold 30,464 shares of the business’s stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $84.39, for a total transaction of $2,570,856.96. Following the completion of the sale, the vice president now directly owns 104,231 shares in the company, valued at $8,796,054.09. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Eduardo E. Cordeiro purchased 3,500 shares of the company’s stock in a transaction that occurred on Thursday, December 20th. The shares were purchased at an average price of $71.90 per share, with a total value of $251,650.00. Following the completion of the transaction, the director now directly owns 21,645 shares of the company’s stock, valued at approximately $1,556,275.50. The disclosure for this purchase can be found here. Insiders have sold 131,880 shares of company stock valued at $11,144,839 over the last quarter. 1.20% of the stock is owned by company insiders.
FMC has been the subject of several research analyst reports. Credit Suisse Group set a $105.00 target price on FMC and gave the stock a “buy” rating in a research note on Monday, November 26th. Loop Capital set a $118.00 target price on FMC and gave the stock a “buy” rating in a research note on Wednesday, December 5th. Zacks Investment Research downgraded FMC from a “hold” rating to a “sell” rating in a research note on Thursday, January 3rd. Nomura upped their target price on FMC from $90.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, February 13th. Finally, Citigroup set a $94.00 target price on FMC and gave the stock a “buy” rating in a research note on Thursday, February 14th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. FMC presently has an average rating of “Buy” and an average price target of $97.58.
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.
Featured Article: What is a back-end load?
Receive News & Ratings for FMC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FMC and related companies with MarketBeat.com's FREE daily email newsletter.