California State Teachers Retirement System Buys 7,591 Shares of FMC Corp (FMC)
California State Teachers Retirement System lifted its stake in FMC Corp (NYSE:FMC) by 3.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 234,338 shares of the basic materials company’s stock after purchasing an additional 7,591 shares during the period. California State Teachers Retirement System owned about 0.17% of FMC worth $17,332,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in FMC. Massey Quick Simon & CO. LLC purchased a new position in FMC in the fourth quarter valued at $27,000. We Are One Seven LLC acquired a new stake in FMC in the fourth quarter valued at $31,000. Lindbrook Capital LLC acquired a new stake in FMC in the fourth quarter valued at $31,000. Riverview Trust Co acquired a new stake in FMC in the fourth quarter valued at $32,000. Finally, Hanseatic Management Services Inc. raised its stake in FMC by 52.1% in the fourth quarter. Hanseatic Management Services Inc. now owns 546 shares of the basic materials company’s stock valued at $40,000 after buying an additional 187 shares in the last quarter. Hedge funds and other institutional investors own 87.70% of the company’s stock.
FMC opened at $77.24 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.98 and a current ratio of 1.35. FMC Corp has a one year low of $69.36 and a one year high of $92.95. The stock has a market cap of $10.15 billion, a PE ratio of 12.28, a PEG ratio of 1.28 and a beta of 1.50.
FMC announced that its board has approved a share buyback program on Monday, December 3rd that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the basic materials company to reacquire up to 9% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Thursday, April 18th. Stockholders of record on Friday, March 29th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date is Thursday, March 28th. FMC’s dividend payout ratio (DPR) is currently 25.44%.
In other news, Director Robert C. Pallash sold 6,992 shares of FMC stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $87.28, for a total transaction of $610,261.76. Following the sale, the director now owns 37,458 shares in the company, valued at $3,269,334.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Andrea E. Utecht sold 30,464 shares of FMC stock in a transaction dated Friday, February 15th. The stock was sold at an average price of $84.39, for a total value of $2,570,856.96. Following the sale, the vice president now owns 104,231 shares in the company, valued at approximately $8,796,054.09. The disclosure for this sale can be found here. Insiders have sold 131,880 shares of company stock worth $11,144,839 in the last quarter. Insiders own 1.20% of the company’s stock.
FMC has been the topic of a number of analyst reports. Credit Suisse Group set a $105.00 price target on FMC and gave the company a “buy” rating in a research note on Monday, December 3rd. Stephens set a $95.00 price target on FMC and gave the company a “buy” rating in a research note on Thursday, February 28th. ValuEngine upgraded FMC from a “hold” rating to a “buy” rating in a research note on Friday, March 1st. Zacks Investment Research upgraded FMC from a “sell” rating to a “hold” rating in a research note on Wednesday, February 13th. Finally, KeyCorp cut their price target on FMC from $112.00 to $105.00 and set a “buy” rating on the stock in a research note on Thursday, February 14th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $97.58.
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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