Crossmark Global Holdings Inc. Purchases 8,013 Shares of Freeport-McMoRan Inc. $FCX

Crossmark Global Holdings Inc. grew its position in shares of Freeport-McMoRan Inc. (NYSE:FCX) by 15.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 60,957 shares of the natural resource company’s stock after acquiring an additional 8,013 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Freeport-McMoRan were worth $3,096,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FCX. Wellington Management Group LLP boosted its position in shares of Freeport-McMoRan by 190.9% during the 3rd quarter. Wellington Management Group LLP now owns 36,494,793 shares of the natural resource company’s stock valued at $1,431,326,000 after acquiring an additional 23,950,557 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Freeport-McMoRan by 205.0% during the 2nd quarter. AQR Capital Management LLC now owns 4,186,621 shares of the natural resource company’s stock valued at $181,490,000 after acquiring an additional 2,813,845 shares during the last quarter. Amundi boosted its position in shares of Freeport-McMoRan by 43.7% during the 3rd quarter. Amundi now owns 7,018,624 shares of the natural resource company’s stock valued at $282,991,000 after acquiring an additional 2,132,708 shares during the last quarter. Kirkoswald Asset Management LLC bought a new position in shares of Freeport-McMoRan during the 3rd quarter valued at approximately $82,754,200,000. Finally, Schroder Investment Management Group boosted its position in shares of Freeport-McMoRan by 87.6% during the 3rd quarter. Schroder Investment Management Group now owns 4,115,008 shares of the natural resource company’s stock valued at $152,749,000 after acquiring an additional 1,921,792 shares during the last quarter. 80.77% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Maree E. Robertson sold 48,500 shares of the firm’s stock in a transaction on Friday, February 13th. The stock was sold at an average price of $61.55, for a total value of $2,985,175.00. Following the completion of the sale, the chief financial officer directly owned 79,894 shares in the company, valued at $4,917,475.70. This trade represents a 37.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Richard C. Adkerson sold 152,960 shares of Freeport-McMoRan stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $64.65, for a total value of $9,888,864.00. Following the sale, the chairman owned 3,356,159 shares of the company’s stock, valued at approximately $216,975,679.35. This trade represents a 4.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 317,114 shares of company stock valued at $20,263,571 over the last 90 days. 0.79% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on FCX. Wall Street Zen downgraded Freeport-McMoRan from a “buy” rating to a “hold” rating in a research report on Saturday, February 14th. Citigroup lowered their target price on Freeport-McMoRan from $67.00 to $66.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Jefferies Financial Group set a $75.00 target price on Freeport-McMoRan in a research report on Thursday, April 23rd. Freedom Capital upgraded Freeport-McMoRan from a “hold” rating to a “strong-buy” rating in a research report on Saturday, February 21st. Finally, JPMorgan Chase & Co. lowered their target price on Freeport-McMoRan from $76.00 to $73.00 and set an “overweight” rating for the company in a research report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $65.14.

Freeport-McMoRan Stock Up 4.4%

Shares of FCX opened at $64.38 on Tuesday. The company has a market cap of $92.52 billion, a PE ratio of 34.24, a P/E/G ratio of 0.74 and a beta of 1.32. The business has a fifty day moving average of $61.56 and a 200 day moving average of $55.09. Freeport-McMoRan Inc. has a 52-week low of $35.15 and a 52-week high of $70.96. The company has a quick ratio of 1.13, a current ratio of 2.39 and a debt-to-equity ratio of 0.28.

Freeport-McMoRan (NYSE:FCX) last issued its quarterly earnings results on Thursday, April 23rd. The natural resource company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.10. The company had revenue of $6.23 billion during the quarter, compared to the consensus estimate of $5.73 billion. Freeport-McMoRan had a return on equity of 9.88% and a net margin of 10.34%.Freeport-McMoRan’s revenue was up 8.8% on a year-over-year basis. During the same period last year, the company earned $0.24 earnings per share. On average, sell-side analysts expect that Freeport-McMoRan Inc. will post 2.56 EPS for the current year.

Freeport-McMoRan Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 1st. Investors of record on Wednesday, April 15th were given a $0.075 dividend. The ex-dividend date was Wednesday, April 15th. This represents a $0.30 dividend on an annualized basis and a yield of 0.5%. Freeport-McMoRan’s dividend payout ratio (DPR) is currently 15.96%.

Freeport-McMoRan Profile

Freeport-McMoRan Inc is a U.S.-based natural resources company primarily engaged in the exploration, mining and processing of copper, gold and molybdenum. Its operations encompass large-scale open-pit and underground mining as well as associated concentrator and milling facilities. The company produces copper in the form of concentrates and cathodes, and also recovers gold and molybdenum as co-products; its business model includes exploration, development, mining, beneficiation and the sale of bulk commodities to smelters and industrial customers.

Freeport-McMoRan conducts operations and development activities across multiple geographies, with substantial assets in the Americas and Indonesia.