Fairpointe Capital LLC Sells 678,702 Shares of FMC Corp (FMC)
Fairpointe Capital LLC cut its holdings in shares of FMC Corp (NYSE:FMC) by 57.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 507,849 shares of the basic materials company’s stock after selling 678,702 shares during the period. Fairpointe Capital LLC owned 0.38% of FMC worth $45,305,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC bought a new position in shares of FMC during the second quarter valued at approximately $157,000. Millennium Management LLC boosted its stake in shares of FMC by 124.3% during the second quarter. Millennium Management LLC now owns 630,703 shares of the basic materials company’s stock valued at $56,265,000 after purchasing an additional 349,495 shares in the last quarter. Scopus Asset Management L.P. bought a new position in shares of FMC during the second quarter valued at approximately $10,491,000. Worldquant Millennium Quantitative Strategies LLC bought a new position in shares of FMC during the second quarter valued at approximately $3,015,000. Finally, Centaurus Financial Inc. boosted its stake in shares of FMC by 10.3% during the second quarter. Centaurus Financial Inc. now owns 11,376 shares of the basic materials company’s stock valued at $1,015,000 after purchasing an additional 1,058 shares in the last quarter. Hedge funds and other institutional investors own 89.93% of the company’s stock.
NYSE:FMC opened at $85.42 on Monday. FMC Corp has a 12 month low of $72.73 and a 12 month high of $98.70. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.63 and a quick ratio of 1.24. The firm has a market cap of $11.21 billion, a PE ratio of 31.52, a P/E/G ratio of 0.74 and a beta of 1.61.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 18th. Investors of record on Friday, September 28th will be issued a dividend of $0.165 per share. The ex-dividend date is Thursday, September 27th. This represents a $0.66 annualized dividend and a dividend yield of 0.77%. FMC’s dividend payout ratio (DPR) is presently 24.35%.
In other FMC news, Director Dirk A. Kempthorne bought 1,173 shares of FMC stock in a transaction that occurred on Tuesday, August 28th. The stock was purchased at an average price of $86.12 per share, with a total value of $101,018.76. Following the completion of the acquisition, the director now directly owns 35,783 shares in the company, valued at approximately $3,081,631.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Mark Douglas bought 4,250 shares of FMC stock in a transaction that occurred on Tuesday, August 14th. The shares were acquired at an average cost of $86.13 per share, with a total value of $366,052.50. Following the acquisition, the chief operating officer now owns 59,943 shares of the company’s stock, valued at $5,162,890.59. The disclosure for this purchase can be found here. Company insiders own 1.20% of the company’s stock.
A number of research firms have recently issued reports on FMC. Zacks Investment Research downgraded shares of FMC from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 4th. Credit Suisse Group set a $107.00 target price on shares of FMC and gave the company a “buy” rating in a research note on Tuesday, June 12th. Finally, Nomura raised their target price on shares of FMC from $100.00 to $106.00 and gave the company a “buy” rating in a research note on Wednesday, July 11th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $103.07.
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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