FMC Corp (FMC) Holdings Lessened by Sentry Investment Management LLC
Sentry Investment Management LLC reduced its holdings in FMC Corp (NYSE:FMC) by 8.2% in the 1st quarter, HoldingsChannel reports. The fund owned 7,681 shares of the basic materials company’s stock after selling 682 shares during the quarter. Sentry Investment Management LLC’s holdings in FMC were worth $590,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the business. Legal & General Group Plc increased its stake in FMC by 1.5% during the 3rd quarter. Legal & General Group Plc now owns 617,584 shares of the basic materials company’s stock worth $53,841,000 after acquiring an additional 8,963 shares during the period. Vanguard Group Inc increased its stake in shares of FMC by 0.4% in the 3rd quarter. Vanguard Group Inc now owns 14,445,070 shares of the basic materials company’s stock valued at $1,259,321,000 after purchasing an additional 62,905 shares during the last quarter. IFM Investors Pty Ltd increased its stake in shares of FMC by 10.1% in the 4th quarter. IFM Investors Pty Ltd now owns 8,593 shares of the basic materials company’s stock valued at $636,000 after purchasing an additional 791 shares during the last quarter. We Are One Seven LLC bought a new position in shares of FMC in the 4th quarter valued at $31,000. Finally, Weybosset Research & Management LLC increased its stake in shares of FMC by 1.0% in the 4th quarter. Weybosset Research & Management LLC now owns 87,243 shares of the basic materials company’s stock valued at $6,452,000 after purchasing an additional 837 shares during the last quarter. Institutional investors own 89.72% of the company’s stock.
FMC has been the topic of several recent research reports. Loop Capital cut their price objective on FMC from $118.00 to $101.00 and set a “buy” rating on the stock in a report on Sunday, March 3rd. KeyCorp cut their price objective on FMC from $112.00 to $105.00 and set a “buy” rating on the stock in a report on Thursday, February 14th. Royal Bank of Canada downgraded FMC from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $100.00 to $87.00 in a report on Thursday, April 18th. They noted that the move was a valuation call. Credit Suisse Group reissued a “buy” rating and set a $114.00 price objective on shares of FMC in a report on Friday, February 1st. Finally, Goldman Sachs Group reissued a “neutral” rating and set a $81.00 price objective on shares of FMC in a report on Friday, March 8th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. FMC presently has a consensus rating of “Buy” and an average target price of $95.25.
FMC (NYSE:FMC) last released its earnings results on Monday, May 6th. The basic materials company reported $1.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.62 by $0.10. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.19 billion. FMC had a return on equity of 27.53% and a net margin of 9.57%. FMC’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.84 earnings per share. Analysts expect that FMC Corp will post 5.76 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Friday, June 28th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $1.60 annualized dividend and a yield of 2.26%. FMC’s payout ratio is 25.44%.
In other news, insider Mark Douglas sold 18,500 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $75.12, for a total value of $1,389,720.00. Following the transaction, the insider now owns 47,594 shares of the company’s stock, valued at $3,575,261.28. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Pierre R. Brondeau sold 33,000 shares of the company’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $73.09, for a total transaction of $2,411,970.00. Following the completion of the transaction, the chief executive officer now directly owns 284,814 shares in the company, valued at approximately $20,817,055.26. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by corporate insiders.
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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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