Deltec Asset Management LLC Holds Stake in FMC Corp. (FMC)
Deltec Asset Management LLC continued to hold its stake in shares of FMC Corp. (NYSE:FMC) during the second quarter, Holdings Channel reports. The fund owned 6,000 shares of the company’s stock at the end of the second quarter. Deltec Asset Management LLC’s holdings in FMC Corp. were worth $278,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Canada Pension Plan Investment Board boosted its position in shares of FMC Corp. by 78.1% in the first quarter. Canada Pension Plan Investment Board now owns 197,510 shares of the company’s stock worth $7,973,000 after buying an additional 86,600 shares during the period. M&T Bank Corp purchased a new position in shares of FMC Corp. during the first quarter worth approximately $420,000. NN Investment Partners Holdings N.V. purchased a new position in shares of FMC Corp. during the first quarter worth approximately $963,000. Sentry Investment Management LLC boosted its position in shares of FMC Corp. by 22.3% in the first quarter. Sentry Investment Management LLC now owns 9,629 shares of the company’s stock worth $389,000 after buying an additional 1,757 shares during the period. Finally, BlackRock Institutional Trust Company N.A. boosted its position in shares of FMC Corp. by 1.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,448,329 shares of the company’s stock worth $139,209,000 after buying an additional 41,138 shares during the period. 94.55% of the stock is owned by hedge funds and other institutional investors.
FMC Corp. (NYSE:FMC) traded up 0.66% on Thursday, reaching $48.90. The company’s stock had a trading volume of 542,480 shares. The company’s market capitalization is $6.54 billion. FMC Corp. has a 52 week low of $32.24 and a 52 week high of $50.57. The firm’s 50 day moving average price is $47.39 and its 200-day moving average price is $45.50.
FMC Corp. (NYSE:FMC) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.69 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.02. The company earned $810.30 million during the quarter, compared to analyst estimates of $889.70 million. FMC Corp. had a positive return on equity of 16.35% and a negative net margin of 2.79%. The firm’s revenue was down 8.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.70 earnings per share. On average, equities analysts predict that FMC Corp. will post $2.73 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 20th. Shareholders of record on Friday, September 30th will be paid a dividend of $0.165 per share. The ex-dividend date is Wednesday, September 28th. This represents a $0.66 annualized dividend and a yield of 1.35%. FMC Corp.’s dividend payout ratio is presently -94.29%.
A number of brokerages recently commented on FMC. Citigroup Inc. raised their target price on FMC Corp. from $48.00 to $51.00 and gave the company a “neutral” rating in a report on Friday, July 15th. Zacks Investment Research cut FMC Corp. from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. Credit Suisse Group AG restated a “hold” rating and set a $44.00 target price on shares of FMC Corp. in a report on Wednesday, August 3rd. Susquehanna raised their target price on FMC Corp. from $46.00 to $48.00 and gave the company a “neutral” rating in a report on Friday, August 26th. Finally, Nomura reiterated a “hold” rating on shares of FMC Corp. in a research note on Tuesday, July 12th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $44.43.
About FMC Corp.
FMC Corporation is a diversified chemical company serving agricultural, consumer and industrial markets. The Company operates through three business segments: FMC Agricultural Solutions, FMC Health and Nutrition, and FMC Lithium. The Company’s FMC Agricultural Solutions segment develops, markets and sells over three classes of crop protection chemicals, including insecticides, herbicides and fungicides.
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