Washington Capital Management Inc. lifted its holdings in shares of FMC Corp (NYSE:FMC) by 8.0% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 25,785 shares of the basic materials company’s stock after acquiring an additional 1,920 shares during the quarter. FMC comprises approximately 2.4% of Washington Capital Management Inc.’s portfolio, making the stock its 7th largest holding. Washington Capital Management Inc.’s holdings in FMC were worth $2,139,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also added to or reduced their stakes in the company. Huntington National Bank boosted its position in shares of FMC by 754.1% during the second quarter. Huntington National Bank now owns 316 shares of the basic materials company’s stock valued at $25,000 after buying an additional 279 shares during the last quarter. Squar Milner Financial Services LLC boosted its position in shares of FMC by 51.4% during the second quarter. Squar Milner Financial Services LLC now owns 383 shares of the basic materials company’s stock valued at $32,000 after buying an additional 130 shares during the last quarter. Global Retirement Partners LLC boosted its position in shares of FMC by 128.6% during the first quarter. Global Retirement Partners LLC now owns 455 shares of the basic materials company’s stock valued at $35,000 after buying an additional 256 shares during the last quarter. Parallel Advisors LLC boosted its position in shares of FMC by 46.9% during the second quarter. Parallel Advisors LLC now owns 501 shares of the basic materials company’s stock valued at $42,000 after buying an additional 160 shares during the last quarter. Finally, Pennsylvania Trust Co purchased a new stake in shares of FMC during the first quarter valued at $48,000. 89.79% of the stock is currently owned by institutional investors.
FMC stock traded down $3.24 during trading on Friday, reaching $82.82. The stock had a trading volume of 616,277 shares, compared to its average volume of 1,050,530. FMC Corp has a 52 week low of $69.36 and a 52 week high of $92.76. The stock’s 50 day moving average is $84.95 and its two-hundred day moving average is $81.13. The company has a current ratio of 1.27, a quick ratio of 0.91 and a debt-to-equity ratio of 0.77. The firm has a market cap of $11.23 billion, a PE ratio of 13.17, a PEG ratio of 1.44 and a beta of 1.49.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Monday, September 30th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.93%. The ex-dividend date is Friday, September 27th. FMC’s dividend payout ratio (DPR) is currently 25.44%.
In other news, insider Nicholas Pfeiffer sold 2,446 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $80.67, for a total value of $197,318.82. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Pierre R. Brondeau sold 196,466 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $88.90, for a total value of $17,465,827.40. Following the completion of the transaction, the chief executive officer now directly owns 368,778 shares in the company, valued at approximately $32,784,364.20. The disclosure for this sale can be found here. 1.50% of the stock is owned by company insiders.
A number of research analysts have weighed in on FMC shares. Morgan Stanley started coverage on FMC in a report on Monday, May 20th. They issued an “equal weight” rating and a $82.00 target price on the stock. Citigroup reissued a “buy” rating and issued a $93.00 target price (up previously from $91.00) on shares of FMC in a report on Thursday, June 13th. SunTrust Banks increased their target price on FMC to $98.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Bank of America downgraded FMC from a “buy” rating to a “neutral” rating in a report on Thursday, August 1st. Finally, Nomura increased their target price on FMC from $93.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $96.85.
FMC Company Profile
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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