Kanawha Capital Management LLC cut its holdings in shares of FMC Corp (NYSE:FMC) by 1.4% in the 2nd quarter, Holdings Channel reports. The fund owned 14,047 shares of the basic materials company’s stock after selling 200 shares during the period. Kanawha Capital Management LLC’s holdings in FMC were worth $1,165,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the company. Ellevest Inc. lifted its position in shares of FMC by 91.2% during the second quarter. Ellevest Inc. now owns 457 shares of the basic materials company’s stock worth $38,000 after purchasing an additional 218 shares during the last quarter. Barings LLC raised its holdings in shares of FMC by 2.3% during the second quarter. Barings LLC now owns 96,403 shares of the basic materials company’s stock valued at $7,996,000 after buying an additional 2,200 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of FMC by 6.1% during the second quarter. Royal Bank of Canada now owns 279,992 shares of the basic materials company’s stock valued at $23,225,000 after buying an additional 16,218 shares during the last quarter. Verition Fund Management LLC bought a new stake in shares of FMC during the second quarter valued at approximately $505,000. Finally, Amundi Pioneer Asset Management Inc. raised its holdings in shares of FMC by 373.3% during the second quarter. Amundi Pioneer Asset Management Inc. now owns 543,680 shares of the basic materials company’s stock valued at $322,858,000 after buying an additional 428,806 shares during the last quarter. 89.09% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE FMC traded down $2.99 during mid-day trading on Tuesday, reaching $84.69. 37,175 shares of the company traded hands, compared to its average volume of 868,270. FMC Corp has a fifty-two week low of $69.36 and a fifty-two week high of $92.76. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.27 and a quick ratio of 0.91. The firm has a market cap of $11.44 billion, a PE ratio of 13.48, a price-to-earnings-growth ratio of 1.44 and a beta of 1.50. The stock has a fifty day simple moving average of $86.96 and a 200-day simple moving average of $81.65.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Monday, September 30th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, September 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.89%. FMC’s dividend payout ratio is presently 25.44%.
A number of equities research analysts have recently weighed in on the company. BNP Paribas assumed coverage on FMC in a report on Wednesday, September 18th. They set a “buy” rating and a $110.00 price target on the stock. Buckingham Research lifted their price target on FMC from $94.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, August 1st. BMO Capital Markets set a $100.00 price target on FMC and gave the company a “buy” rating in a report on Thursday, September 12th. Zacks Investment Research raised FMC from a “hold” rating to a “buy” rating and set a $77.00 price target on the stock in a report on Monday, June 3rd. Finally, Royal Bank of Canada raised FMC from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $87.00 to $103.00 in a report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. FMC currently has a consensus rating of “Buy” and an average price target of $97.93.
In related news, insider Nicholas Pfeiffer sold 9,218 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $90.88, for a total transaction of $837,731.84. Following the transaction, the insider now owns 17,706 shares in the company, valued at $1,609,121.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Mark Douglas sold 22,390 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $89.83, for a total transaction of $2,011,293.70. Following the transaction, the chief operating officer now owns 60,584 shares in the company, valued at approximately $5,442,260.72. The disclosure for this sale can be found here. Insiders have sold 228,074 shares of company stock worth $20,314,853 in the last quarter. Company insiders own 1.50% 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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