Tandem Investment Advisors Inc. Has $346,000 Stake in FMC Corp (FMC)
Tandem Investment Advisors Inc. cut its stake in FMC Corp (NYSE:FMC) by 36.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,509 shares of the basic materials company’s stock after selling 2,600 shares during the period. Tandem Investment Advisors Inc.’s holdings in FMC were worth $346,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently bought and sold shares of FMC. Virtu Financial LLC purchased a new position in FMC in the third quarter worth approximately $239,000. Dimensional Fund Advisors LP grew its position in FMC by 9.8% in the third quarter. Dimensional Fund Advisors LP now owns 525,873 shares of the basic materials company’s stock worth $45,847,000 after acquiring an additional 47,121 shares during the period. Franklin Resources Inc. grew its position in FMC by 5.2% in the third quarter. Franklin Resources Inc. now owns 15,575 shares of the basic materials company’s stock worth $1,358,000 after acquiring an additional 775 shares during the period. Riverhead Capital Management LLC grew its position in FMC by 12.2% in the third quarter. Riverhead Capital Management LLC now owns 7,514 shares of the basic materials company’s stock worth $655,000 after acquiring an additional 817 shares during the period. Finally, LPL Financial LLC grew its position in FMC by 2.0% in the third quarter. LPL Financial LLC now owns 50,842 shares of the basic materials company’s stock worth $4,432,000 after acquiring an additional 988 shares during the period. Institutional investors and hedge funds own 90.64% of the company’s stock.
Several research firms have recently commented on FMC. Loop Capital set a $102.00 price target on FMC and gave the stock a “buy” rating in a research report on Friday. KeyCorp lowered their price target on FMC from $105.00 to $95.00 and set an “overweight” rating for the company in a research report on Friday. Jefferies Financial Group restated a “buy” rating and set a $112.00 price target (up from $108.00) on shares of FMC in a research report on Thursday, March 21st. Goldman Sachs Group restated a “neutral” rating and set a $81.00 price target on shares of FMC in a research report on Friday, March 8th. Finally, ValuEngine upgraded FMC from a “hold” rating to a “buy” rating in a research report on Friday, March 1st. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. FMC has an average rating of “Buy” and a consensus target price of $98.00.
FMC (NYSE:FMC) last announced its quarterly earnings data on Monday, February 11th. The basic materials company reported $1.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.64 by $0.05. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.20 billion. FMC had a return on equity of 27.73% and a net margin of 10.62%. During the same period last year, the firm earned $1.10 earnings per share. Sell-side analysts expect that FMC Corp will post 5.67 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 18th. Stockholders of record on Friday, March 29th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Thursday, March 28th. FMC’s payout ratio is currently 25.44%.
In other news, VP Andrea E. Utecht sold 30,464 shares of the stock in a transaction on Friday, February 15th. The stock was sold at an average price of $84.39, for a total value of $2,570,856.96. Following the sale, the vice president now directly owns 104,231 shares in the company, valued at $8,796,054.09. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert C. Pallash sold 6,992 shares of the stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $87.28, for a total value of $610,261.76. Following the completion of the sale, the director now owns 37,458 shares in the company, valued at $3,269,334.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 131,880 shares of company stock worth $11,144,839. Insiders own 1.50% of the company’s stock.
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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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