NuWave Investment Management LLC cut its holdings in FMC Co. (NYSE:FMC) by 48.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 385 shares of the basic materials company’s stock after selling 361 shares during the period. NuWave Investment Management LLC’s holdings in FMC were worth $44,000 as of its most recent filing with the SEC.
Other large investors have also recently modified their holdings of the company. Louisiana State Employees Retirement System increased its position in shares of FMC by 22.7% in the fourth quarter. Louisiana State Employees Retirement System now owns 8,100 shares of the basic materials company’s stock worth $931,000 after acquiring an additional 1,500 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in FMC by 15.8% in the 4th quarter. State of Alaska Department of Revenue now owns 40,276 shares of the basic materials company’s stock valued at $4,628,000 after buying an additional 5,484 shares during the period. Wetherby Asset Management Inc. increased its holdings in FMC by 1.9% in the 3rd quarter. Wetherby Asset Management Inc. now owns 11,152 shares of the basic materials company’s stock valued at $1,181,000 after buying an additional 210 shares during the period. S&CO Inc. bought a new stake in FMC in the 3rd quarter valued at $3,253,000. Finally, Mercer Global Advisors Inc. ADV increased its holdings in FMC by 7.2% in the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 24,615 shares of the basic materials company’s stock valued at $2,607,000 after buying an additional 1,645 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.
In related news, Director Eduardo E. Cordeiro sold 5,625 shares of the stock in a transaction that occurred on Tuesday, December 8th. The shares were sold at an average price of $118.86, for a total value of $668,587.50. Following the sale, the director now directly owns 22,826 shares in the company, valued at approximately $2,713,098.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Nicholas Pfeiffer sold 733 shares of the stock in a transaction that occurred on Wednesday, December 2nd. The shares were sold at an average price of $118.50, for a total transaction of $86,860.50. Following the completion of the sale, the insider now owns 11,547 shares in the company, valued at $1,368,319.50. The disclosure for this sale can be found here. Insiders sold a total of 7,091 shares of company stock worth $842,309 over the last quarter. 0.99% of the stock is currently owned by corporate insiders.
FMC (NYSE:FMC) last released its earnings results on Saturday, November 7th. The basic materials company reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.11. FMC had a net margin of 10.64% and a return on equity of 30.81%. The company had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the company posted $0.94 EPS. The company’s revenue was up 6.9% compared to the same quarter last year. Research analysts forecast that FMC Co. will post 6.55 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 21st. Investors of record on Thursday, December 31st will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.57%. This is an increase from FMC’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Wednesday, December 30th. FMC’s dividend payout ratio (DPR) is currently 31.53%.
Several equities research analysts have issued reports on FMC shares. KeyCorp boosted their price target on shares of FMC from $121.00 to $137.00 and gave the company an “overweight” rating in a report on Wednesday, November 18th. ValuEngine lowered shares of FMC from a “hold” rating to a “sell” rating in a report on Friday, December 11th. Royal Bank of Canada upped their target price on shares of FMC from $125.00 to $134.00 and gave the stock an “outperform” rating in a report on Monday, November 16th. Morgan Stanley upped their target price on shares of FMC from $115.00 to $130.00 and gave the stock an “equal weight” rating in a report on Monday, December 14th. Finally, Sanford C. Bernstein began coverage on shares of FMC in a report on Friday, November 20th. They issued a “market perform” rating on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $121.53.
FMC Corporation, an agricultural sciences company, provides crop protection, plant health, and professional pest and turf management products. The company develop, markets, and sells crop protection chemicals, which include insecticides, herbicides, and fungicides that are used in agriculture to enhance crop yield and quality by controlling a range of insects, weeds, and disease, as well as in non-agricultural markets for pest control.
Read More: Stochastic Momentum Index (SMI)
Want to see what other hedge funds are holding FMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FMC Co. (NYSE:FMC).
Receive News & Ratings for FMC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FMC and related companies with MarketBeat.com's FREE daily email newsletter.