FMC Corp (FMC) Stake Increased by Verition Fund Management LLC
Verition Fund Management LLC lifted its position in shares of FMC Corp (NYSE:FMC) by 779.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,599 shares of the basic materials company’s stock after acquiring an additional 24,461 shares during the period. Verition Fund Management LLC’s holdings in FMC were worth $2,462,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also recently modified their holdings of the company. Argent Trust Co bought a new stake in shares of FMC during the 2nd quarter worth approximately $305,000. Moneta Group Investment Advisors LLC bought a new stake in shares of FMC during the 2nd quarter worth approximately $157,000. Millennium Management LLC lifted its holdings in shares of FMC by 124.3% during the 2nd quarter. Millennium Management LLC now owns 630,703 shares of the basic materials company’s stock worth $56,265,000 after acquiring an additional 349,495 shares during the period. Scopus Asset Management L.P. bought a new stake in shares of FMC during the 2nd quarter worth approximately $10,491,000. Finally, Worldquant Millennium Quantitative Strategies LLC bought a new stake in shares of FMC during the 2nd quarter worth approximately $3,015,000. 89.73% of the stock is owned by institutional investors.
Shares of NYSE:FMC opened at $86.23 on Tuesday. The company has a market capitalization of $11.50 billion, a P/E ratio of 31.82, a P/E/G ratio of 0.76 and a beta of 1.62. The company has a quick ratio of 1.24, a current ratio of 1.63 and a debt-to-equity ratio of 0.96. FMC Corp has a one year low of $72.73 and a one year high of $98.70.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 18th. Investors of record on Friday, September 28th will be paid a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 0.77%. The ex-dividend date is Thursday, September 27th. FMC’s payout ratio is 24.35%.
In other FMC news, COO Mark Douglas purchased 4,250 shares of the firm’s stock in a transaction on Tuesday, August 14th. The stock was purchased at an average cost of $86.13 per share, for a total transaction of $366,052.50. Following the transaction, the chief operating officer now owns 59,943 shares in the company, valued at approximately $5,162,890.59. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Dirk A. Kempthorne purchased 1,173 shares of the firm’s stock in a transaction on Tuesday, August 28th. The stock was acquired at an average price of $86.12 per share, with a total value of $101,018.76. Following the completion of the transaction, the director now owns 35,783 shares in the company, valued at approximately $3,081,631.96. The disclosure for this purchase can be found here. 1.20% of the stock is owned by corporate insiders.
A number of brokerages have recently weighed in on FMC. Nomura upped their price target on shares of FMC from $100.00 to $106.00 and gave the stock a “buy” rating in a report on Wednesday, July 11th. Zacks Investment Research raised shares of FMC from a “hold” rating to a “buy” rating and set a $100.00 price target for the company in a report on Friday, July 6th. Finally, Credit Suisse Group set a $107.00 price objective on shares of FMC and gave the company a “buy” rating in a research note on Tuesday, June 12th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $103.07.
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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