JPMorgan Chase & Co. raised its stake in shares of FMC Corp. (NYSE:FMC) by 55.6% during the second quarter, Holdings Channel reports. The firm owned 152,234 shares of the company’s stock after buying an additional 54,404 shares during the period. JPMorgan Chase & Co. owned 0.11% of FMC Corp. worth $7,049,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of the stock. Seven Eight Capital LLC raised its stake in shares of FMC Corp. by 2.4% in the first quarter. Seven Eight Capital LLC now owns 4,200 shares of the company’s stock valued at $170,000 after buying an additional 100 shares during the period. Pitcairn Co. acquired a new stake in shares of FMC Corp. during the second quarter valued at $214,000. Charter Trust Co. acquired a new stake in shares of FMC Corp. during the second quarter valued at $218,000. Alambic Investment Management L.P. acquired a new stake in shares of FMC Corp. during the second quarter valued at $218,000. Finally, ING Groep NV acquired a new stake in shares of FMC Corp. during the second quarter valued at $219,000. Institutional investors and hedge funds own 94.55% of the company’s stock.
FMC Corp. (NYSE:FMC) traded down 0.73% during midday trading on Friday, hitting $47.70. 648,091 shares of the company were exchanged. The firm’s 50-day moving average price is $47.44 and its 200-day moving average price is $46.13. The stock’s market capitalization is $6.38 billion. FMC Corp. has a one year low of $32.24 and a one year high of $50.57.
FMC Corp. (NYSE:FMC) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.02. The firm had revenue of $810.30 million for the quarter, compared to the consensus estimate of $889.70 million. FMC Corp. had a negative net margin of 2.79% and a positive return on equity of 16.35%. The business’s revenue for the quarter was down 8.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.70 earnings per share. Equities research analysts anticipate that FMC Corp. will post $2.73 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 20th. Shareholders of record on Friday, September 30th will be paid a dividend of $0.165 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.66 dividend on an annualized basis and a yield of 1.38%. FMC Corp.’s payout ratio is -94.29%.
Several brokerages have recently weighed in on FMC. KeyCorp reiterated a “buy” rating on shares of FMC Corp. in a research report on Wednesday, June 29th. Zacks Investment Research lowered shares of FMC Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, August 9th. Credit Suisse Group AG restated a “hold” rating and issued a $44.00 price target on shares of FMC Corp. in a research report on Wednesday, August 3rd. Susquehanna boosted their price target on shares of FMC Corp. from $46.00 to $48.00 and gave the company a “neutral” rating in a research report on Friday, August 26th. Finally, Nomura restated a “hold” rating on shares of FMC Corp. in a research report on Tuesday, July 12th. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the stock. FMC Corp. presently has an average rating of “Hold” and an average target price of $44.07.
FMC Corp. Company Profile
FMC Corporation is a diversified chemical company serving agricultural, consumer and industrial markets. The Company operates through three business segments: FMC Agricultural Solutions, FMC Health and Nutrition, and FMC Lithium. The Company’s FMC Agricultural Solutions segment develops, markets and sells over three classes of crop protection chemicals, including insecticides, herbicides and fungicides.
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