Insider Selling: FMC Corp (NYSE:FMC) CEO Sells $17,465,827.40 in Stock

FMC Corp (NYSE:FMC) CEO Pierre R. Brondeau sold 196,466 shares of FMC stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $88.90, for a total value of $17,465,827.40. Following the completion of the transaction, the chief executive officer now owns 368,778 shares in the company, valued at approximately $32,784,364.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of FMC stock opened at $83.54 on Friday. FMC Corp has a fifty-two week low of $69.36 and a fifty-two week high of $92.76. The firm has a market capitalization of $11.16 billion, a price-to-earnings ratio of 13.28, a PEG ratio of 1.43 and a beta of 1.49. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.91 and a current ratio of 1.27. The stock’s 50-day simple moving average is $84.66 and its 200-day simple moving average is $81.02.

FMC (NYSE:FMC) last issued its quarterly earnings results on Tuesday, July 30th. The basic materials company reported $1.66 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.03. FMC had a return on equity of 27.33% and a net margin of 10.65%. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the previous year, the firm earned $1.78 earnings per share. The company’s revenue was up 4.5% on a year-over-year basis. As a group, equities analysts forecast that FMC Corp will post 5.8 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, September 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.92%. FMC’s payout ratio is 25.44%.

Hedge funds have recently modified their holdings of the company. Geode Capital Management LLC raised its holdings 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. Municipal Employees Retirement System of Michigan bought a new stake in shares of FMC in the 4th quarter valued at about $268,000. State of Alaska Department of Revenue raised its holdings in shares of FMC by 1.5% in the 1st quarter. State of Alaska Department of Revenue now owns 24,497 shares of the basic materials company’s stock valued at $1,880,000 after purchasing an additional 366 shares during the period. DNB Asset Management AS raised its holdings in shares of FMC by 35.1% in the 1st quarter. DNB Asset Management AS now owns 30,965 shares of the basic materials company’s stock valued at $2,379,000 after purchasing an additional 8,043 shares during the period. Finally, Retirement Systems of Alabama raised its holdings in shares of FMC by 1.0% in the 1st quarter. Retirement Systems of Alabama now owns 62,702 shares of the basic materials company’s stock valued at $4,817,000 after purchasing an additional 616 shares during the period. Institutional investors and hedge funds own 90.89% of the company’s stock.

FMC has been the topic of several analyst reports. SunTrust Banks lifted their target price on FMC to $98.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Royal Bank of Canada upgraded FMC from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $87.00 to $103.00 in a research note on Friday, August 9th. Morgan Stanley initiated coverage on FMC in a research note on Monday, May 20th. They issued an “equal weight” rating and a $82.00 target price on the stock. Nomura lifted their target price on FMC from $93.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Goldman Sachs Group lowered FMC from a “buy” rating to a “neutral” rating in a research note on Friday, August 2nd. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $96.85.

About FMC

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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Insider Buying and Selling by Quarter for FMC (NYSE:FMC)

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