Principal Financial Group Inc. boosted its position in shares of FMC Corp (NYSE:FMC) by 33.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 570,384 shares of the basic materials company’s stock after acquiring an additional 141,393 shares during the period. Principal Financial Group Inc.’s holdings in FMC were worth $43,675,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of FMC. Vaughan Nelson Investment Management L.P. purchased a new position in FMC during the first quarter valued at approximately $54,754,000. BlackRock Inc. grew its stake in FMC by 3.4% during the fourth 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. Old Mutual Global Investors UK Ltd. grew its stake in FMC by 3,067.8% during the fourth 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. Allianz Asset Management GmbH grew its stake in FMC by 86.7% during the fourth quarter. Allianz Asset Management GmbH now owns 478,401 shares of the basic materials company’s stock valued at $45,286,000 after acquiring an additional 222,191 shares in the last quarter. Finally, Guggenheim Capital LLC grew its stake in FMC by 50.4% during the fourth quarter. Guggenheim Capital LLC now owns 618,052 shares of the basic materials company’s stock valued at $58,506,000 after acquiring an additional 207,213 shares in the last quarter. 86.52% of the stock is owned by institutional investors.
Several brokerages recently commented on FMC. BMO Capital Markets raised shares of FMC from a “market perform” rating to an “outperform” rating and set a $90.00 price objective for the company in a research note on Thursday, April 12th. Stephens raised shares of FMC from an “equal weight” rating to an “overweight” rating and set a $100.00 price objective for the company in a research note on Friday, May 4th. Piper Jaffray Companies set a $90.00 price target on shares of FMC and gave the stock a “hold” rating in a research note on Thursday, February 15th. Loop Capital reissued a “positive” rating and issued a $111.00 price target (up previously from $108.00) on shares of FMC in a research note on Wednesday, February 14th. Finally, Seaport Global Securities raised shares of FMC from a “neutral” rating to a “buy” rating in a research note on Thursday, February 15th. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $99.72.
FMC (NYSE:FMC) last announced its quarterly earnings data on Wednesday, May 2nd. The basic materials company reported $1.84 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.21. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.17 billion. FMC had a net margin of 26.54% and a return on equity of 22.69%. The business’s quarterly revenue was up 103.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.64 EPS. equities research analysts expect that FMC Corp will post 6.11 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 19th. Stockholders of record on Friday, June 29th will be issued a $0.165 dividend. The ex-dividend date is Thursday, June 28th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.73%. FMC’s payout ratio is 24.35%.
In other news, insider Paul W. Graves sold 3,615 shares of the business’s stock in a transaction that occurred on Wednesday, June 6th. The shares were sold at an average price of $88.46, for a total value of $319,782.90. Following the completion of the sale, the insider now directly owns 89,612 shares in the company, valued at approximately $7,927,077.52. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Pierre R. Brondeau sold 72,992 shares of the business’s stock in a transaction that occurred on Monday, May 7th. The stock was sold at an average price of $87.19, for a total transaction of $6,364,172.48. Following the completion of the sale, the chief executive officer now owns 407,487 shares of the company’s stock, valued at $35,528,791.53. The disclosure for this sale can be found here. 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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