Cambridge Trust Co. acquired a new position in shares of FMC Corporation (NYSE:FMC) during the first quarter, Holdings Channel reports. The firm acquired 6,904 shares of the basic materials company’s stock, valued at approximately $480,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Contravisory Investment Management Inc. raised its position in shares of FMC Corporation by 163.4% in the first quarter. Contravisory Investment Management Inc. now owns 1,520 shares of the basic materials company’s stock worth $106,000 after buying an additional 943 shares during the last quarter. Acrospire Investment Management LLC increased its position in FMC Corporation by 522.9% in the first quarter. Acrospire Investment Management LLC now owns 1,906 shares of the basic materials company’s stock worth $133,000 after buying an additional 1,600 shares during the period. United Capital Financial Advisers LLC bought a new position in FMC Corporation during the first quarter worth $202,000. Conning Inc. bought a new position in FMC Corporation during the first quarter worth $220,000. Finally, Norman Fields Gottscho Capital Management LLC bought a new position in FMC Corporation during the first quarter worth $223,000. Hedge funds and other institutional investors own 91.11% of the company’s stock.
Shares of FMC Corporation (NYSE FMC) traded up 0.70% during trading on Friday, hitting $74.78. The stock had a trading volume of 1,136,952 shares. FMC Corporation has a 1-year low of $41.80 and a 1-year high of $77.38. The firm has a 50-day moving average of $74.73 and a 200 day moving average of $65.22. The company has a market capitalization of $10.02 billion, a P/E ratio of 280.07 and a beta of 1.61.
FMC Corporation (NYSE:FMC) last posted its earnings results on Tuesday, May 2nd. The basic materials company reported $0.43 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.56 by $0.13. FMC Corporation had a return on equity of 17.87% and a net margin of 1.19%. The business had revenue of $596 million during the quarter, compared to analyst estimates of $742.50 million. Equities research analysts predict that FMC Corporation will post $2.45 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 20th. Investors of record on Friday, June 30th will be issued a $0.165 dividend. The ex-dividend date is Wednesday, June 28th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.88%. FMC Corporation’s dividend payout ratio is presently 235.72%.
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A number of research firms have recently weighed in on FMC. Jefferies Group LLC increased their price target on FMC Corporation from $75.00 to $84.00 and gave the company a “buy” rating in a research note on Wednesday, April 19th. Wells Fargo & Company raised FMC Corporation from a “market perform” rating to an “outperform” rating and set a $85.00 price target on the stock in a research note on Monday, May 15th. Longbow Research reissued a “buy” rating on shares of FMC Corporation in a research note on Monday, March 13th. Zacks Investment Research downgraded FMC Corporation from a “buy” rating to a “hold” rating in a research note on Monday, May 8th. Finally, BMO Capital Markets reissued a “hold” rating and issued a $75.00 price target on shares of FMC Corporation in a research note on Thursday, May 4th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and ten have given a buy rating to the stock. FMC Corporation currently has a consensus rating of “Buy” and an average price target of $74.87.
In related news, insider Mark Douglas sold 12,697 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $75.82, for a total value of $962,686.54. Following the sale, the insider now owns 73,690 shares in the company, valued at approximately $5,587,175.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Andrea E. Utecht sold 14,434 shares of the company’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $74.62, for a total transaction of $1,077,065.08. Following the completion of the sale, the vice president now owns 131,899 shares in the company, valued at approximately $9,842,303.38. The disclosure for this sale can be found here. Insiders sold a total of 41,489 shares of company stock worth $3,118,310 in the last 90 days. 1.10% of the stock is currently owned by company insiders.
About FMC Corporation
FMC Corporation is a diversified chemical company serving agricultural, consumer and industrial markets. The Company operates in three business segments: FMC Agricultural Solutions, FMC Health and Nutrition, and FMC Lithium. As of December 31, 2016, the FMC Agricultural Solutions segment developed, marketed and sold three classes of crop protection chemicals: insecticides, herbicides and fungicides.
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