Weybosset Research & Management LLC lowered its position in shares of FMC Corp (NYSE:FMC) by 1.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 86,288 shares of the basic materials company’s stock after selling 955 shares during the period. FMC comprises about 3.9% of Weybosset Research & Management LLC’s portfolio, making the stock its 10th biggest position. Weybosset Research & Management LLC owned about 0.07% of FMC worth $6,629,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Boston Partners lifted its stake in shares of FMC by 40.9% in the 4th quarter. Boston Partners now owns 5,769,261 shares of the basic materials company’s stock valued at $426,695,000 after purchasing an additional 1,673,988 shares during the period. Massachusetts Financial Services Co. MA bought a new position in shares of FMC in the fourth quarter valued at approximately $89,432,000. Millennium Management LLC grew its holdings in shares of FMC by 548.6% in the fourth quarter. Millennium Management LLC now owns 866,479 shares of the basic materials company’s stock valued at $64,085,000 after acquiring an additional 1,059,618 shares in the last quarter. Norges Bank bought a new position in shares of FMC in the fourth quarter valued at approximately $64,447,000. Finally, Locust Wood Capital Advisers LLC bought a new position in shares of FMC in the fourth quarter valued at approximately $25,056,000. Institutional investors and hedge funds own 90.64% of the company’s stock.
In other FMC news, VP Andrea E. Utecht sold 30,464 shares of the firm’s stock in a transaction dated 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 sale, the vice president now owns 104,231 shares in the company, valued at $8,796,054.09. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert C. Pallash sold 6,992 shares of the firm’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $87.28, for a total value of $610,261.76. Following the sale, the director now owns 37,458 shares in the company, valued at approximately $3,269,334.24. The disclosure for this sale can be found here. Insiders have sold 131,880 shares of company stock worth $11,144,839 in the last 90 days. Company insiders own 1.50% 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 earnings per share for the quarter, beating 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 the consensus estimate of $1.20 billion. During the same quarter last year, the business posted $1.10 earnings per share. On average, equities analysts expect that FMC Corp will post 5.67 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 18th. Shareholders of record on Friday, March 29th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $1.60 dividend on an annualized basis and a yield of 2.01%. FMC’s payout ratio is 25.44%.
Several equities analysts have weighed in on FMC shares. Stephens set a $95.00 price objective on FMC and gave the company a “buy” rating in a report on Thursday, February 28th. ValuEngine upgraded FMC from a “hold” rating to a “buy” rating in a research report on Friday, March 1st. Zacks Investment Research upgraded FMC from a “sell” rating to a “hold” rating in a research report on Wednesday, February 13th. Loop Capital set a $102.00 target price on FMC and gave the stock a “buy” rating in a research report on Friday. Finally, KeyCorp dropped their target price on FMC from $112.00 to $105.00 and set a “buy” rating on the stock in a research report on Thursday, February 14th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. FMC presently has a consensus rating of “Buy” and an average price target of $98.00.
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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