Staley Capital Advisers Inc. lowered its position in FMC Corp (NYSE:FMC) by 10.1% during the 4th quarter, HoldingsChannel reports. The fund owned 11,691 shares of the basic materials company’s stock after selling 1,319 shares during the period. Staley Capital Advisers Inc.’s holdings in FMC were worth $865,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the business. Grandview Asset Management LLC bought a new stake in FMC during the fourth quarter worth $262,000. Daiwa Securities Group Inc. lifted its holdings in FMC by 4.1% during the fourth quarter. Daiwa Securities Group Inc. now owns 5,056 shares of the basic materials company’s stock worth $374,000 after acquiring an additional 200 shares during the period. CIBC Private Wealth Group LLC lifted its holdings in FMC by 0.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 231,633 shares of the basic materials company’s stock worth $17,131,000 after acquiring an additional 935 shares during the period. IndexIQ Advisors LLC increased its position in FMC by 10.6% in the fourth quarter. IndexIQ Advisors LLC now owns 8,726 shares of the basic materials company’s stock worth $645,000 after buying an additional 834 shares during the last quarter. Finally, ETF Managers Group LLC increased its position in FMC by 15.7% in the fourth quarter. ETF Managers Group LLC now owns 1,701 shares of the basic materials company’s stock worth $126,000 after buying an additional 231 shares during the last quarter. Institutional investors and hedge funds own 90.89% of the company’s stock.
Shares of NYSE FMC opened at $83.70 on Tuesday. The firm has a market capitalization of $11.39 billion, a PE ratio of 30.88, a P/E/G ratio of 1.01 and a beta of 1.49. FMC Corp has a fifty-two week low of $69.36 and a fifty-two week high of $92.95. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.54 and a quick ratio of 1.10.
FMC announced that its Board of Directors has initiated 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 reacquire up to 9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which was paid on Thursday, January 17th. Investors of record on Friday, December 28th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.91%. This is a boost from FMC’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Thursday, December 27th. FMC’s payout ratio is presently 59.04%.
In other FMC news, Director Eduardo E. Cordeiro bought 3,500 shares of FMC stock in a transaction that occurred on Thursday, December 20th. The stock was acquired at an average cost of $71.90 per share, for a total transaction of $251,650.00. Following the completion of the transaction, the director now directly owns 21,645 shares in the company, valued at $1,556,275.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.20% of the stock is owned by insiders.
A number of research firms have issued reports on FMC. Zacks Investment Research downgraded FMC from a “hold” rating to a “sell” rating in a research report on Monday, February 4th. Credit Suisse Group reiterated a “buy” rating and issued a $114.00 price target on shares of FMC in a research report on Friday, February 1st. Loop Capital set a $118.00 price target on FMC and gave the company a “buy” rating in a research report on Wednesday, December 5th. ValuEngine upgraded FMC from a “sell” rating to a “hold” rating in a research report on Thursday, November 1st. Finally, Citigroup set a $96.00 price target on FMC and gave the company a “buy” rating in a research report on Sunday, November 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the stock. FMC presently has an average rating of “Buy” and a consensus price target of $102.17.
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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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