BlackRock Inc. Decreases Stake in FMC Co. (FMC)
BlackRock Inc. decreased its position in FMC Co. (NYSE:FMC) by 4.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,892,391 shares of the basic materials company’s stock after selling 368,850 shares during the quarter. BlackRock Inc. owned 6.61% of FMC worth $680,890,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Los Angeles Capital Management & Equity Research Inc. grew its position in shares of FMC by 647.4% in the 4th quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,526,744 shares of the basic materials company’s stock worth $144,522,000 after acquiring an additional 1,322,470 shares in the last quarter. Synovus Financial Corp grew its position in shares of FMC by 21.3% in the 4th quarter. Synovus Financial Corp now owns 41,219 shares of the basic materials company’s stock worth $3,903,000 after acquiring an additional 7,232 shares in the last quarter. Candriam Luxembourg S.C.A. grew its position in shares of FMC by 15.6% in the 4th quarter. Candriam Luxembourg S.C.A. now owns 9,919 shares of the basic materials company’s stock worth $939,000 after acquiring an additional 1,335 shares in the last quarter. Amundi Pioneer Asset Management Inc. grew its position in shares of FMC by 83.3% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 353,808 shares of the basic materials company’s stock worth $33,491,000 after acquiring an additional 160,780 shares in the last quarter. Finally, Roundview Capital LLC acquired a new position in shares of FMC in the 4th quarter worth approximately $204,000. Institutional investors own 86.45% of the company’s stock.
Shares of FMC opened at $87.09 on Friday, MarketBeat.com reports. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.23 and a current ratio of 1.61. The firm has a market cap of $11.75 billion, a price-to-earnings ratio of 32.14, a price-to-earnings-growth ratio of 1.00 and a beta of 1.62. FMC Co. has a 1-year low of $71.43 and a 1-year high of $98.70.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 19th. Shareholders of record on Friday, June 29th will be paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 0.76%. The ex-dividend date is Thursday, June 28th. FMC’s payout ratio is currently 24.35%.
Several research analysts have recently commented on FMC shares. Credit Suisse Group lifted their target price on FMC from $100.00 to $107.00 and gave the stock an “outperform” rating in a research report on Friday, May 4th. Seaport Global Securities raised FMC from a “neutral” rating to a “buy” rating in a report on Thursday, February 15th. Goldman Sachs Group raised FMC from a “neutral” rating to a “buy” rating and cut their price target for the stock from $98.70 to $98.00 in a report on Monday, May 14th. Bank of America set a $100.00 price target on FMC and gave the stock a “buy” rating in a report on Friday, May 4th. Finally, SunTrust Banks reissued a “buy” rating and issued a $98.00 price target on shares of FMC in a report on Thursday, February 15th. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $99.72.
In other FMC news, CEO Pierre R. Brondeau sold 72,992 shares of FMC stock in a transaction on Monday, May 7th. The stock was sold at an average price of $87.19, for a total transaction of $6,364,172.48. Following the sale, the chief executive officer now owns 407,487 shares of the company’s stock, valued at approximately $35,528,791.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.20% of the stock is owned by insiders.
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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