State Board of Administration of Florida Retirement System Lowers Position in FMC Corp (FMC)
State Board of Administration of Florida Retirement System lowered its position in FMC Corp (NYSE:FMC) by 3.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 186,452 shares of the basic materials company’s stock after selling 7,562 shares during the period. State Board of Administration of Florida Retirement System’s holdings in FMC were worth $16,633,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Fred Alger Management Inc. lifted its stake in FMC by 8,449.8% in the 2nd quarter. Fred Alger Management Inc. now owns 40,184 shares of the basic materials company’s stock valued at $3,585,000 after buying an additional 39,714 shares in the last quarter. Osborne Partners Capital Management LLC lifted its stake in shares of FMC by 25.6% during the 2nd quarter. Osborne Partners Capital Management LLC now owns 42,791 shares of the basic materials company’s stock worth $3,817,000 after purchasing an additional 8,711 shares during the period. KBC Group NV lifted its stake in shares of FMC by 21.9% during the 2nd quarter. KBC Group NV now owns 55,960 shares of the basic materials company’s stock worth $4,992,000 after purchasing an additional 10,066 shares during the period. Chicago Equity Partners LLC purchased a new position in shares of FMC during the 1st quarter worth $225,000. Finally, Natixis Advisors L.P. lifted its stake in shares of FMC by 283.6% during the 1st quarter. Natixis Advisors L.P. now owns 57,415 shares of the basic materials company’s stock worth $4,396,000 after purchasing an additional 42,448 shares during the period. Institutional investors and hedge funds own 87.48% of the company’s stock.
Shares of FMC opened at $84.44 on Monday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.24 and a current ratio of 1.63. The firm has a market capitalization of $11.82 billion, a P/E ratio of 31.16, a PEG ratio of 0.79 and a beta of 1.60. FMC Corp has a twelve month low of $72.73 and a twelve month high of $98.70.
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 18th. Investors of record on Friday, September 28th will be given a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 0.78%. The ex-dividend date is Thursday, September 27th. FMC’s dividend payout ratio (DPR) is currently 24.35%.
A number of research analysts have weighed in on FMC shares. TheStreet raised FMC from a “c” rating to a “b” rating in a research note on Wednesday, May 2nd. Bank of America set a $100.00 price target on FMC and gave the stock a “buy” rating in a research note on Friday, May 4th. Loop Capital increased their price target on FMC to $119.00 and gave the stock a “buy” rating in a research note on Friday, May 4th. Credit Suisse Group set a $107.00 price target on FMC and gave the stock a “buy” rating in a research note on Tuesday, June 12th. Finally, Goldman Sachs Group raised FMC from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $98.70 to $98.00 in a research note on Monday, May 14th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $101.93.
In related news, insider Nicholas Pfeiffer sold 375 shares of the stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $89.15, for a total value of $33,431.25. Following the completion of the sale, the insider now directly owns 8,604 shares in the company, valued at approximately $767,046.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Mark Douglas purchased 4,250 shares of the stock in a transaction that occurred on Tuesday, August 14th. The stock was bought at an average price of $86.13 per share, with a total value of $366,052.50. Following the completion of the acquisition, the chief operating officer now owns 59,943 shares in the company, valued at approximately $5,162,890.59. The disclosure for this purchase can be found here. Company insiders own 1.20% of the company’s stock.
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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