TIAA CREF Investment Management LLC lowered its position in shares of FMC Corp (NYSE:FMC) by 12.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 494,099 shares of the basic materials company’s stock after selling 73,497 shares during the quarter. TIAA CREF Investment Management LLC owned approximately 0.37% of FMC worth $46,771,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the stock. Los Angeles Capital Management & Equity Research Inc. increased its position in FMC by 647.4% in the 4th quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,526,744 shares of the basic materials company’s stock valued at $144,522,000 after acquiring an additional 1,322,470 shares in the last quarter. Victory Capital Management Inc. increased its position in FMC by 225.8% in the 4th quarter. Victory Capital Management Inc. now owns 844,289 shares of the basic materials company’s stock valued at $79,920,000 after acquiring an additional 585,130 shares in the last quarter. American Century Companies Inc. increased its position in FMC by 50.5% in the 4th quarter. American Century Companies Inc. now owns 1,445,616 shares of the basic materials company’s stock valued at $136,842,000 after acquiring an additional 485,379 shares in the last quarter. BlackRock Inc. increased its position in FMC by 3.4% in the 4th quarter. BlackRock Inc. now owns 9,261,241 shares of the basic materials company’s stock valued at $876,668,000 after acquiring an additional 308,432 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. increased its position in FMC by 3,067.8% in the 4th quarter. Old Mutual Global Investors UK Ltd. now owns 317,258 shares of the basic materials company’s stock valued at $30,031,000 after acquiring an additional 307,243 shares in the last quarter. Institutional investors and hedge funds own 90.53% of the company’s stock.
FMC Corp (NYSE FMC) opened at $77.36 on Friday. The company has a quick ratio of 1.20, a current ratio of 1.65 and a debt-to-equity ratio of 1.11. FMC Corp has a one year low of $60.01 and a one year high of $98.70. The firm has a market cap of $10,793.46, a P/E ratio of 29.65, a price-to-earnings-growth ratio of 1.31 and a beta of 1.60.
FMC (NYSE:FMC) last announced its quarterly earnings results on Monday, February 12th. The basic materials company reported $1.10 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.05. FMC had a net margin of 18.61% and a return on equity of 16.82%. The firm had revenue of $979.60 million for the quarter, compared to analyst estimates of $993.57 million. During the same quarter in the previous year, the firm posted $0.88 earnings per share. The business’s revenue was up 42.3% on a year-over-year basis. equities research analysts expect that FMC Corp will post 5.45 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, April 19th. Shareholders of record on Thursday, March 29th will be paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend is Wednesday, March 28th. FMC’s payout ratio is currently 16.54%.
In other FMC news, insider Mark Douglas sold 10,698 shares of FMC stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $84.41, for a total value of $903,018.18. Following the transaction, the insider now owns 63,191 shares of the company’s stock, valued at $5,333,952.31. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.10% of the company’s stock.
Several research firms have weighed in on FMC. Credit Suisse Group set a $111.00 price objective on shares of FMC and gave the company a “buy” rating in a research report on Tuesday, January 16th. Zacks Investment Research lowered shares of FMC from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 4th. Goldman Sachs started coverage on shares of FMC in a research note on Monday, December 4th. They issued a “neutral” rating and a $98.00 target price on the stock. Stephens started coverage on shares of FMC in a research note on Monday, December 4th. They issued an “equal weight” rating and a $91.00 target price on the stock. Finally, KeyCorp reaffirmed a “buy” rating and issued a $112.00 target price on shares of FMC in a research note on Monday, December 4th. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $98.37.
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FMC Company Profile
FMC Corporation is a diversified chemical company serving agricultural, consumer and industrial markets. The Company operates in three business segments: FMC Agricultural Solutions, FMC Health and Nutrition, and FMC Lithium. As of December 31, 2016, the FMC Agricultural Solutions segment developed, marketed and sold three classes of crop protection chemicals: insecticides, herbicides and fungicides.
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