Baker Tilly Wealth Management LLC increased its stake in shares of FMC Co. (NYSE:FMC – Get Rating) by 22.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,574 shares of the basic materials company’s stock after purchasing an additional 1,377 shares during the quarter. Baker Tilly Wealth Management LLC’s holdings in FMC were worth $832,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC boosted its position in shares of FMC by 59.8% during the third quarter. Commonwealth Equity Services LLC now owns 11,491 shares of the basic materials company’s stock worth $1,052,000 after purchasing an additional 4,299 shares in the last quarter. Nordea Investment Management AB raised its stake in FMC by 218.4% in the third quarter. Nordea Investment Management AB now owns 20,956 shares of the basic materials company’s stock valued at $1,960,000 after buying an additional 14,375 shares during the period. AE Wealth Management LLC raised its stake in FMC by 22.9% in the third quarter. AE Wealth Management LLC now owns 3,241 shares of the basic materials company’s stock valued at $297,000 after buying an additional 604 shares during the period. Asset Management One Co. Ltd. raised its stake in FMC by 0.9% in the third quarter. Asset Management One Co. Ltd. now owns 56,645 shares of the basic materials company’s stock valued at $5,186,000 after buying an additional 518 shares during the period. Finally, New York State Common Retirement Fund increased its stake in shares of FMC by 1.6% during the third quarter. New York State Common Retirement Fund now owns 200,711 shares of the basic materials company’s stock worth $18,377,000 after purchasing an additional 3,200 shares during the period. 88.63% of the stock is currently owned by institutional investors and hedge funds.
FMC has been the topic of a number of analyst reports. Citigroup increased their price target on FMC from $137.00 to $152.00 and gave the stock a “buy” rating in a research report on Tuesday, March 22nd. Seaport Res Ptn reissued a “buy” rating on shares of FMC in a research note on Tuesday, February 8th. Mizuho upped their price objective on FMC from $126.00 to $136.00 and gave the company a “buy” rating in a research note on Thursday, February 10th. Wells Fargo & Company upped their price objective on FMC from $130.00 to $150.00 and gave the company an “overweight” rating in a research note on Wednesday, April 6th. Finally, StockNews.com started coverage on shares of FMC in a research report on Thursday, March 31st. They set a “buy” rating for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $129.47.
FMC (NYSE:FMC – Get Rating) last issued its earnings results on Tuesday, February 8th. The basic materials company reported $2.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.02 by $0.14. FMC had a return on equity of 29.16% and a net margin of 14.60%. The business had revenue of $1.41 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same quarter in the previous year, the firm earned $1.42 EPS. FMC’s revenue was up 22.4% on a year-over-year basis. On average, equities research analysts anticipate that FMC Co. will post 7.74 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 21st. Investors of record on Thursday, March 31st were paid a dividend of $0.53 per share. The ex-dividend date of this dividend was Wednesday, March 30th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.57%. FMC’s dividend payout ratio (DPR) is presently 37.19%.
FMC announced that its board has authorized a share buyback program on Tuesday, February 8th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the basic materials company to reacquire up to 7.1% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.
In other news, CFO Andrew D. Sandifer sold 1,500 shares of the firm’s stock in a transaction on Friday, March 4th. The stock was sold at an average price of $119.36, for a total transaction of $179,040.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Nicholas Pfeiffer sold 2,181 shares of the firm’s stock in a transaction on Friday, March 11th. The shares were sold at an average price of $123.65, for a total value of $269,680.65. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,096 shares of company stock worth $1,306,961. 0.57% of the stock is currently owned by insiders.
About FMC (Get Rating)
FMC Corporation, an agricultural sciences company, provides crop protection, plant health, and professional pest and turf management products. It develops, markets, and sells crop protection chemicals that include insecticides, herbicides, and fungicides; and biologicals, crop nutrition, and seed treatment products, which 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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