Brandywine Global Investment Management LLC raised its position in FMC Corp (NYSE:FMC) by 67.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 86,223 shares of the basic materials company’s stock after acquiring an additional 34,844 shares during the period. Brandywine Global Investment Management LLC owned about 0.06% of FMC worth $6,378,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the business. Mackay Shields LLC grew its stake in shares of FMC by 13.6% in the 4th quarter. Mackay Shields LLC now owns 24,396 shares of the basic materials company’s stock valued at $1,805,000 after purchasing an additional 2,924 shares during the period. LMR Partners LLP bought a new stake in shares of FMC in the 4th quarter valued at approximately $402,000. American International Group Inc. grew its stake in shares of FMC by 1.3% in the 4th quarter. American International Group Inc. now owns 47,700 shares of the basic materials company’s stock valued at $3,528,000 after purchasing an additional 605 shares during the period. Geode Capital Management LLC grew its stake in shares of FMC by 8.2% in the 4th quarter. Geode Capital Management LLC now owns 1,701,688 shares of the basic materials company’s stock valued at $125,630,000 after purchasing an additional 128,306 shares during the period. Finally, Fort L.P. bought a new stake in shares of FMC in the 4th quarter valued at approximately $96,000. 83.20% of the stock is owned by hedge funds and other institutional investors.
In other FMC news, VP Andrea E. Utecht sold 30,464 shares of the company’s stock in a transaction 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 transaction, the vice president now owns 104,231 shares of the company’s stock, valued at approximately $8,796,054.09. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Pierre R. Brondeau sold 94,424 shares of the company’s stock in a transaction on Friday, February 15th. The stock was sold at an average price of $84.34, for a total value of $7,963,720.16. Following the transaction, the chief executive officer now directly owns 312,861 shares in the company, valued at approximately $26,386,696.74. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 131,880 shares of company stock worth $11,144,839. Company insiders own 1.20% of the company’s stock.
FMC (NYSE:FMC) last released its quarterly earnings results on Monday, February 11th. The basic materials company reported $1.69 EPS for the quarter, topping the Zacks’ 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 business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period in the prior year, the company earned $1.10 EPS. Analysts forecast that FMC Corp will post 5.67 earnings per share for the current fiscal year.
FMC declared that its board has initiated a stock repurchase program on Monday, December 3rd that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the basic materials company to buy up to 9% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 18th. Shareholders of record on Friday, March 29th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 2.06%. The ex-dividend date is Thursday, March 28th. FMC’s dividend payout ratio is 25.44%.
FMC has been the topic of a number of research analyst reports. Zacks Investment Research lowered FMC from a “hold” rating to a “sell” rating in a research report on Thursday, January 3rd. Loop Capital set a $118.00 price target on FMC and gave the stock a “buy” rating in a research report on Wednesday, December 5th. Credit Suisse Group set a $105.00 price target on FMC and gave the stock a “buy” rating in a research report on Monday, November 26th. Nomura increased their price target on FMC from $90.00 to $93.00 and gave the stock a “buy” rating in a research report on Wednesday, February 13th. Finally, Goldman Sachs Group restated a “neutral” rating and set a $81.00 price target on shares of FMC in a research report on Friday, March 8th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $98.69.
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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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