Skandinaviska Enskilda Banken AB publ Boosts Stock Position in FMC Corp (NYSE:FMC)
Skandinaviska Enskilda Banken AB publ raised its stake in FMC Corp (NYSE:FMC) by 2.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 30,945 shares of the basic materials company’s stock after buying an additional 685 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in FMC were worth $2,528,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the business. BlackRock Inc. grew its stake in shares of FMC by 1.2% in the 1st quarter. BlackRock Inc. now owns 9,168,819 shares of the basic materials company’s stock valued at $749,001,000 after buying an additional 107,336 shares during the period. King Luther Capital Management Corp grew its position in FMC by 1.1% in the fourth quarter. King Luther Capital Management Corp now owns 2,945,283 shares of the basic materials company’s stock worth $293,998,000 after acquiring an additional 32,012 shares during the period. Geode Capital Management LLC increased its stake in FMC by 1.5% during the first quarter. Geode Capital Management LLC now owns 2,031,344 shares of the basic materials company’s stock worth $165,619,000 after acquiring an additional 29,554 shares during the last quarter. Frontier Capital Management Co. LLC raised its position in FMC by 1.6% in the first quarter. Frontier Capital Management Co. LLC now owns 1,828,365 shares of the basic materials company’s stock valued at $149,359,000 after purchasing an additional 29,167 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of FMC by 3.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,753,752 shares of the basic materials company’s stock valued at $175,059,000 after purchasing an additional 53,872 shares during the last quarter. Institutional investors own 89.68% of the company’s stock.
A number of brokerages recently issued reports on FMC. Morgan Stanley raised their price objective on FMC from $90.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 2nd. Robert W. Baird lifted their price target on shares of FMC from $87.00 to $100.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. SunTrust Banks decreased their price objective on shares of FMC from $125.00 to $106.00 and set a “buy” rating on the stock in a report on Monday, April 6th. Cfra lifted their target price on shares of FMC from $100.00 to $105.00 and gave the company a “buy” rating in a report on Wednesday, May 6th. Finally, Stephens decreased their price target on FMC from $130.00 to $95.00 and set an “overweight” rating on the stock in a research note on Friday, March 20th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and sixteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $107.83.
FMC (NYSE:FMC) last posted its quarterly earnings results on Tuesday, May 5th. The basic materials company reported $1.84 EPS for the quarter, topping the consensus estimate of $1.81 by $0.03. FMC had a net margin of 10.02% and a return on equity of 30.32%. The company had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter in the previous year, the business posted $1.72 EPS. The firm’s revenue was up 4.9% on a year-over-year basis. On average, sell-side analysts predict that FMC Corp will post 6.28 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 16th. Investors of record on Tuesday, June 30th will be issued a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 1.81%. The ex-dividend date of this dividend is Monday, June 29th. FMC’s dividend payout ratio (DPR) is presently 28.90%.
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.
Further Reading: Diluted Earnings Per Share
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