Boston Partners raised its position in shares of FMC Corp (NYSE:FMC) by 29.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,220,507 shares of the basic materials company’s stock after buying an additional 953,377 shares during the quarter. Boston Partners’ holdings in FMC were worth $376,511,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of FMC. Wedbush Securities Inc. purchased a new stake in shares of FMC in the second quarter worth approximately $212,000. Capital Analysts LLC purchased a new stake in shares of FMC in the second quarter worth approximately $1,178,000. Thompson Davis & CO. Inc. lifted its position in shares of FMC by 307.1% in the second quarter. Thompson Davis & CO. Inc. now owns 1,425 shares of the basic materials company’s stock worth $127,000 after purchasing an additional 1,075 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of FMC in the second quarter worth approximately $1,260,000. Finally, Sandy Spring Bank lifted its position in shares of FMC by 31.6% in the second quarter. Sandy Spring Bank now owns 12,470 shares of the basic materials company’s stock worth $1,112,000 after purchasing an additional 2,995 shares in the last quarter. 86.62% of the stock is owned by institutional investors.
In other FMC news, insider Paul W. Graves sold 3,615 shares of the stock in a transaction that occurred on Wednesday, June 6th. The stock was sold at an average price of $88.46, for a total transaction of $319,782.90. Following the transaction, the insider now owns 89,612 shares in the company, valued at $7,927,077.52. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.20% of the company’s stock.
FMC (NYSE:FMC) last announced its quarterly earnings results on Wednesday, August 1st. The basic materials company reported $1.78 EPS for the quarter, beating the consensus estimate of $1.72 by $0.06. FMC had a return on equity of 27.12% and a net margin of 23.96%. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.24 billion. During the same quarter last year, the company posted $0.48 earnings per share. The company’s revenue for the quarter was up 92.2% compared to the same quarter last year. sell-side analysts anticipate that FMC Corp will post 6.06 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 18th. Shareholders of record on Friday, September 28th will be issued a dividend of $0.165 per share. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $0.66 annualized dividend and a yield of 0.73%. FMC’s dividend payout ratio (DPR) is presently 24.35%.
A number of analysts have recently issued reports on FMC shares. Goldman Sachs Group raised shares of FMC from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $98.70 to $98.00 in a research report on Monday, May 14th. Credit Suisse Group set a $100.00 price objective on shares of FMC and gave the company a “buy” rating in a research report on Saturday, April 14th. Zacks Investment Research lowered shares of FMC from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 4th. Stephens raised shares of FMC from an “equal weight” rating to an “overweight” rating and set a $100.00 price objective on the stock in a research report on Friday, May 4th. Finally, Nomura raised their price objective on shares of FMC from $100.00 to $106.00 and gave the company a “buy” rating in a research report on Wednesday, July 11th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $101.93.
FMC Company Profile
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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