Nationwide Fund Advisors Lowers Stake in FMC Corp. (FMC)
Nationwide Fund Advisors reduced its stake in FMC Corp. (NYSE:FMC) by 1.7% during the second quarter, Holdings Channel reports. The firm owned 37,907 shares of the company’s stock after selling 643 shares during the period. Nationwide Fund Advisors’ holdings in FMC Corp. were worth $1,755,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the company. TIAA CREF Investment Management LLC boosted its stake in shares of FMC Corp. by 3.9% in the first quarter. TIAA CREF Investment Management LLC now owns 234,545 shares of the company’s stock valued at $9,469,000 after buying an additional 8,776 shares during the period. Teachers Advisors Inc. boosted its stake in shares of FMC Corp. by 6.4% in the first quarter. Teachers Advisors Inc. now owns 176,209 shares of the company’s stock valued at $7,114,000 after buying an additional 10,588 shares during the period. BlackRock Group LTD boosted its stake in shares of FMC Corp. by 0.9% in the first quarter. BlackRock Group LTD now owns 1,592,510 shares of the company’s stock valued at $64,289,000 after buying an additional 13,740 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake 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 valued at $139,209,000 after buying an additional 41,138 shares during the period. Finally, Sentry Investment Management LLC boosted its stake 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 valued at $389,000 after buying an additional 1,757 shares during the period. 94.55% of the stock is currently owned by hedge funds and other institutional investors.
Shares of FMC Corp. (NYSE:FMC) traded up 0.43% during mid-day trading on Friday, hitting $46.56. The company had a trading volume of 895,558 shares. The firm has a 50-day moving average price of $47.36 and a 200 day moving average price of $46.30. FMC Corp. has a 52-week low of $32.24 and a 52-week high of $50.57. The firm’s market capitalization is $6.23 billion.
FMC Corp. (NYSE:FMC) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.02. The firm had revenue of $810.30 million for the quarter, compared to analyst estimates of $889.70 million. FMC Corp. had a negative net margin of 2.79% and a positive return on equity of 16.35%. FMC Corp.’s quarterly revenue was down 8.7% compared to the same quarter last year. During the same period last year, the company posted $0.70 EPS. Analysts expect that FMC Corp. will post $2.73 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 20th. Investors of record on Friday, September 30th will be paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date is Wednesday, September 28th. FMC Corp.’s dividend payout ratio is presently -94.29%.
Several equities research analysts have recently issued reports on FMC shares. Credit Suisse Group AG reaffirmed a “hold” rating on shares of FMC Corp. in a report on Monday, June 27th. KeyCorp reissued a “buy” rating on shares of FMC Corp. in a research note on Wednesday, June 29th. Nomura reissued a “hold” rating on shares of FMC Corp. in a research note on Tuesday, July 12th. Citigroup Inc. boosted their price objective on FMC Corp. from $48.00 to $51.00 and gave the stock a “neutral” rating in a research note on Friday, July 15th. Finally, Zacks Investment Research cut FMC Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, August 9th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $44.17.
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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