Clarus Wealth Advisors decreased its stake in FMC Corp (NYSE:FMC) by 51.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,218 shares of the basic materials company’s stock after selling 1,266 shares during the quarter. Clarus Wealth Advisors’ holdings in FMC were worth $90,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of FMC. Grandview Asset Management LLC acquired a new position in FMC in the 4th quarter worth about $262,000. Daiwa Securities Group Inc. raised its holdings in FMC by 4.1% in the 4th quarter. Daiwa Securities Group Inc. now owns 5,056 shares of the basic materials company’s stock worth $374,000 after purchasing an additional 200 shares during the period. CIBC Private Wealth Group LLC raised its holdings in FMC by 0.4% in the 4th quarter. CIBC Private Wealth Group LLC now owns 231,633 shares of the basic materials company’s stock worth $17,131,000 after purchasing an additional 935 shares during the period. IndexIQ Advisors LLC raised its holdings in FMC by 10.6% in the 4th quarter. IndexIQ Advisors LLC now owns 8,726 shares of the basic materials company’s stock worth $645,000 after purchasing an additional 834 shares during the period. Finally, ETF Managers Group LLC raised its holdings in shares of FMC by 15.7% during the fourth quarter. ETF Managers Group LLC now owns 1,701 shares of the basic materials company’s stock valued at $126,000 after acquiring an additional 231 shares during the last quarter. Hedge funds and other institutional investors own 90.89% of the company’s stock.
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In related news, Director Eduardo E. Cordeiro purchased 3,500 shares of the business’s stock in a transaction that occurred on Thursday, December 20th. The stock was purchased at an average price of $71.90 per share, with a total value of $251,650.00. Following the completion of the acquisition, the director now owns 21,645 shares in the company, valued at $1,556,275.50. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.20% of the stock is currently owned by company insiders.
NYSE:FMC opened at $84.29 on Thursday. FMC Corp has a one year low of $69.36 and a one year high of $92.95. The company has a quick ratio of 1.10, a current ratio of 1.54 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $11.39 billion, a P/E ratio of 31.10, a P/E/G ratio of 1.01 and a beta of 1.49.
FMC (NYSE:FMC) last posted its quarterly earnings results on Monday, February 11th. The basic materials company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.64 by $0.05. FMC had a return on equity of 26.26% and a net margin of 22.28%. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter last year, the firm earned $1.10 earnings per share. As a group, equities research analysts anticipate that FMC Corp will post 6.05 earnings per share for the current year.
FMC announced that its board has approved a stock repurchase plan on Monday, December 3rd that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the basic materials company to reacquire up to 9% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
The business also recently declared a quarterly dividend, which was paid on Thursday, January 17th. Investors of record on Friday, December 28th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.90%. The ex-dividend date was Thursday, December 27th. This is a boost from FMC’s previous quarterly dividend of $0.17. FMC’s dividend payout ratio (DPR) is currently 59.04%.
A number of equities analysts have commented on the company. Citigroup set a $94.00 target price on FMC and gave the company a “buy” rating in a report on Thursday. Zacks Investment Research raised FMC from a “sell” rating to a “hold” rating in a report on Wednesday. Credit Suisse Group set a $112.00 target price on FMC and gave the company a “buy” rating in a report on Wednesday. Nomura increased their target price on FMC from $90.00 to $93.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Loop Capital set a $118.00 target price on FMC and gave the company a “buy” rating in a report on Wednesday, December 5th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. FMC currently has a consensus rating of “Buy” and a consensus price target of $100.75.
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FMC Company Profile
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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