Wealth Enhancement Advisory Services LLC Buys Shares of 5,603 FMC Corp (FMC)
Wealth Enhancement Advisory Services LLC bought a new position in shares of FMC Corp (NYSE:FMC) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,603 shares of the basic materials company’s stock, valued at approximately $548,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Great West Life Assurance Co. Can increased its stake in FMC by 0.6% during the 3rd quarter. Great West Life Assurance Co. Can now owns 91,917 shares of the basic materials company’s stock worth $8,077,000 after purchasing an additional 572 shares in the last quarter. Gabelli Funds LLC increased its stake in FMC by 1.8% during the 3rd quarter. Gabelli Funds LLC now owns 34,600 shares of the basic materials company’s stock worth $3,090,000 after purchasing an additional 600 shares in the last quarter. Hanseatic Management Services Inc. increased its stake in FMC by 13.3% during the 2nd quarter. Hanseatic Management Services Inc. now owns 14,350 shares of the basic materials company’s stock worth $1,048,000 after purchasing an additional 1,688 shares in the last quarter. Advisor Partners LLC bought a new stake in FMC during the 3rd quarter worth approximately $216,000. Finally, Achmea Investment Management B.V. bought a new stake in FMC during the 3rd quarter worth approximately $246,000. 89.30% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently issued reports on FMC. BMO Capital Markets increased their target price on FMC from $80.00 to $90.00 and gave the stock a “market perform” rating in a research note on Wednesday, November 8th. They noted that the move was a valuation call. Loop Capital initiated coverage on FMC in a research note on Thursday, September 28th. They set a “buy” rating and a $102.00 target price for the company. KeyCorp reaffirmed a “buy” rating and set a $112.00 price target on shares of FMC in a research note on Monday, December 4th. Credit Suisse Group set a $111.00 price target on shares of FMC and gave the stock a “buy” rating in a research note on Tuesday, January 16th. Finally, Zacks Investment Research cut shares of FMC from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 4th. Eight research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. FMC presently has a consensus rating of “Buy” and an average price target of $95.25.
FMC (NYSE:FMC) last released its quarterly earnings data on Monday, November 6th. The basic materials company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.63 by $0.07. The company had revenue of $646.20 million during the quarter, compared to the consensus estimate of $686.21 million. FMC had a return on equity of 16.77% and a net margin of 0.78%. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.67 EPS. equities research analysts predict that FMC Corp will post 2.65 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 18th. Stockholders of record on Friday, December 29th were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend was Thursday, December 28th. FMC’s payout ratio is presently 388.24%.
In other news, insider Nicholas Pfeiffer sold 375 shares of the stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $90.33, for a total value of $33,873.75. Following the completion of the sale, the insider now owns 6,856 shares of the company’s stock, valued at approximately $619,302.48. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.10% of the company’s stock.
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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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