CAPROCK Group Inc. Sells 3,910 Shares of FMC Corp (FMC)
CAPROCK Group Inc. cut its position in shares of FMC Corp (NYSE:FMC) by 24.8% during the first quarter, Holdings Channel reports. The fund owned 11,835 shares of the basic materials company’s stock after selling 3,910 shares during the period. CAPROCK Group Inc.’s holdings in FMC Corp were worth $824,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in FMC. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of FMC Corp by 4.8% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 386,035 shares of the basic materials company’s stock worth $18,661,000 after buying an additional 17,751 shares during the last quarter. BlackRock Fund Advisors boosted its position in shares of FMC Corp by 3.7% in the third quarter. BlackRock Fund Advisors now owns 2,270,049 shares of the basic materials company’s stock worth $109,734,000 after buying an additional 80,070 shares during the last quarter. Sei Investments Co. boosted its position in shares of FMC Corp by 60.1% in the third quarter. Sei Investments Co. now owns 45,755 shares of the basic materials company’s stock worth $2,212,000 after buying an additional 17,177 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of FMC Corp by 1.1% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 267,618 shares of the basic materials company’s stock worth $12,937,000 after buying an additional 2,811 shares during the last quarter. Finally, BlackRock Japan Co. Ltd boosted its position in shares of FMC Corp by 1.3% in the third quarter. BlackRock Japan Co. Ltd now owns 159,404 shares of the basic materials company’s stock worth $7,706,000 after buying an additional 1,971 shares during the last quarter. 94.35% of the stock is currently owned by hedge funds and other institutional investors.
FMC Corp (NYSE:FMC) traded down 1.01% during midday trading on Friday, reaching $72.67. 1,521,266 shares of the company traded hands. FMC Corp has a 12-month low of $41.80 and a 12-month high of $75.93. The stock has a market capitalization of $9.72 billion, a P/E ratio of 46.67 and a beta of 1.66. The company has a 50 day moving average of $65.40 and a 200-day moving average of $57.73.
FMC Corp (NYSE:FMC) last announced its earnings results on Monday, February 6th. The basic materials company reported $0.88 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by $0.01. The firm earned $865.60 million during the quarter, compared to analysts’ expectations of $915.55 million. FMC Corp had a net margin of 6.37% and a return on equity of 18.60%. The business’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.77 EPS. Equities analysts anticipate that FMC Corp will post $3.41 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, April 20th. Stockholders of record on Friday, March 31st were issued a $0.165 dividend. The ex-dividend date of this dividend was Wednesday, March 29th. This represents a $0.66 annualized dividend and a dividend yield of 0.91%. FMC Corp’s dividend payout ratio is currently 42.31%.
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A number of equities analysts have issued reports on FMC shares. Royal Bank of Canada reaffirmed a “buy” rating and issued a $71.00 price objective on shares of FMC Corp in a research note on Tuesday, March 28th. Vetr cut shares of FMC Corp from a “sell” rating to a “strong sell” rating and set a $50.73 price objective on the stock. in a research note on Thursday, January 5th. Credit Suisse Group AG lifted their price target on shares of FMC Corp from $57.00 to $66.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 25th. Instinet lifted their price target on shares of FMC Corp from $57.00 to $61.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 8th. Finally, Longbow Research raised shares of FMC Corp from a “neutral” rating to a “buy” rating and set a $70.00 price target on the stock in a research report on Wednesday, February 8th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $71.32.
FMC Corp Company Profile
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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