Oregon Public Employees Retirement Fund Acquires Shares of 14,608 FMC Corp (FMC)
Oregon Public Employees Retirement Fund purchased a new stake in FMC Corp (NYSE:FMC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 14,608 shares of the basic materials company’s stock, valued at approximately $1,303,000.
Several other hedge funds also recently bought and sold shares of FMC. North Star Investment Management Corp. acquired a new position in shares of FMC in the 2nd quarter valued at $116,000. Thompson Davis & CO. Inc. lifted its stake in shares of FMC by 307.1% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 1,425 shares of the basic materials company’s stock valued at $127,000 after purchasing an additional 1,075 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of FMC by 221.1% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,525 shares of the basic materials company’s stock valued at $136,000 after purchasing an additional 1,050 shares during the period. Piedmont Investment Advisors LLC acquired a new position in shares of FMC in the 2nd quarter valued at $139,000. Finally, Exane Derivatives acquired a new position in shares of FMC in the 2nd quarter valued at $141,000. 89.73% of the stock is currently owned by institutional investors.
FMC has been the topic of a number of analyst reports. Zacks Investment Research downgraded 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 price target on FMC and gave the company a “buy” rating in a research note on Tuesday, June 12th. Finally, Nomura increased their price target on 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 stock. The stock has an average rating of “Buy” and a consensus target price of $103.07.
FMC (NYSE:FMC) last issued its quarterly earnings data on Wednesday, August 1st. The basic materials company reported $1.78 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.72 by $0.06. The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $1.24 billion. FMC had a return on equity of 27.12% and a net margin of 23.96%. The firm’s revenue was up 92.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.48 EPS. analysts expect that FMC Corp will post 6.07 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 18th. Investors of record on Friday, September 28th will be paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend is Thursday, September 27th. FMC’s payout ratio is presently 24.35%.
In other news, Director Dirk A. Kempthorne bought 1,173 shares of the stock in a transaction on Tuesday, August 28th. The stock was purchased at an average price of $86.12 per share, for a total transaction of $101,018.76. Following the acquisition, the director now owns 35,783 shares in the company, valued at $3,081,631.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Nicholas Pfeiffer sold 375 shares of the stock in a transaction dated Thursday, August 9th. The stock was sold at an average price of $89.15, for a total value of $33,431.25. Following the transaction, the insider now owns 8,604 shares of the company’s stock, valued at approximately $767,046.60. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.
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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