Rhumbline Advisers boosted its stake in FMC Corporation (NYSE:FMC) by 7.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 268,991 shares of the basic materials company’s stock after buying an additional 19,430 shares during the period. Rhumbline Advisers owned 0.20% of FMC Corporation worth $19,650,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in FMC Corporation by 4.1% in the first quarter. Vanguard Group Inc. now owns 13,437,788 shares of the basic materials company’s stock valued at $935,135,000 after buying an additional 527,494 shares during the last quarter. Glenview Capital Management LLC increased its position in FMC Corporation by 10.8% in the first quarter. Glenview Capital Management LLC now owns 10,577,624 shares of the basic materials company’s stock valued at $736,097,000 after buying an additional 1,029,806 shares during the last quarter. BlackRock Inc. increased its position in FMC Corporation by 2,944.3% in the first quarter. BlackRock Inc. now owns 8,723,379 shares of the basic materials company’s stock valued at $607,062,000 after buying an additional 8,436,830 shares during the last quarter. King Luther Capital Management Corp increased its position in FMC Corporation by 1.3% in the first quarter. King Luther Capital Management Corp now owns 2,899,596 shares of the basic materials company’s stock valued at $201,783,000 after buying an additional 38,036 shares during the last quarter. Finally, York Capital Management Global Advisors LLC purchased a new position in FMC Corporation during the first quarter valued at approximately $167,824,000. Institutional investors own 93.79% of the company’s stock.
Shares of FMC Corporation (NYSE:FMC) opened at 82.78 on Friday. The firm’s 50-day moving average price is $78.47 and its 200-day moving average price is $70.74. The firm has a market cap of $11.10 billion, a PE ratio of 245.64 and a beta of 1.62. FMC Corporation has a 12 month low of $44.40 and a 12 month high of $85.17.
FMC Corporation (NYSE:FMC) last issued its quarterly earnings data on Tuesday, August 1st. The basic materials company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.01. The company had revenue of $656.80 million for the quarter, compared to analyst estimates of $614.01 million. FMC Corporation had a return on equity of 16.51% and a net margin of 1.58%. The business’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.46 earnings per share. Analysts expect that FMC Corporation will post $2.43 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 19th. Shareholders of record on Friday, September 29th will be issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend is Thursday, September 28th. FMC Corporation’s payout ratio is 188.58%.
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FMC has been the topic of several research reports. Jefferies Group LLC restated a “buy” rating on shares of FMC Corporation in a report on Wednesday, May 24th. Royal Bank Of Canada reiterated a “buy” rating and issued a $83.00 price target on shares of FMC Corporation in a report on Monday, June 5th. BMO Capital Markets lifted their price target on FMC Corporation from $75.00 to $80.00 and gave the company a “market perform” rating in a report on Thursday, August 3rd. Credit Suisse Group set a $85.00 price target on FMC Corporation and gave the company a “buy” rating in a report on Monday, June 26th. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $85.00 price target on shares of FMC Corporation in a report on Thursday, August 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $83.40.
In other FMC Corporation news, insider Mark Douglas sold 12,697 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $75.82, for a total transaction of $962,686.54. Following the transaction, the insider now owns 73,690 shares of the company’s stock, valued at $5,587,175.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 1.10% of the company’s stock.
FMC Corporation Company Profile
FMC Corporation is a diversified chemical company serving agricultural, consumer and industrial markets. The Company operates in three business segments: FMC Agricultural Solutions, FMC Health and Nutrition, and FMC Lithium. As of December 31, 2016, the FMC Agricultural Solutions segment developed, marketed and sold three classes of crop protection chemicals: insecticides, herbicides and fungicides.
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