Twin Capital Management Inc. Sells 24,890 Shares of FMC Corp (NYSE:FMC)

Twin Capital Management Inc. cut its holdings in FMC Corp (NYSE:FMC) by 28.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 63,580 shares of the basic materials company’s stock after selling 24,890 shares during the period. Twin Capital Management Inc.’s holdings in FMC were worth $5,274,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of FMC. Boston Partners increased its position in shares of FMC by 12.4% during the first quarter. Boston Partners now owns 6,486,738 shares of the basic materials company’s stock valued at $498,311,000 after buying an additional 717,477 shares during the period. Northern Trust Corp increased its position in shares of FMC by 11.0% during the first quarter. Northern Trust Corp now owns 2,713,988 shares of the basic materials company’s stock valued at $208,489,000 after buying an additional 268,542 shares during the period. King Luther Capital Management Corp increased its position in shares of FMC by 2.2% during the first quarter. King Luther Capital Management Corp now owns 2,712,671 shares of the basic materials company’s stock valued at $208,387,000 after buying an additional 58,934 shares during the period. Geode Capital Management LLC increased its position in shares of FMC by 8.2% during the fourth quarter. Geode Capital Management LLC now owns 1,701,688 shares of the basic materials company’s stock valued at $125,630,000 after buying an additional 128,306 shares during the period. Finally, Principal Financial Group Inc. increased its position in shares of FMC by 4.2% during the first quarter. Principal Financial Group Inc. now owns 642,705 shares of the basic materials company’s stock valued at $49,372,000 after buying an additional 25,840 shares during the period. 90.89% of the stock is owned by institutional investors and hedge funds.

FMC stock traded down $0.18 during midday trading on Thursday, reaching $83.65. 16,256 shares of the company traded hands, compared to its average volume of 1,064,154. The stock has a market cap of $11.16 billion, a price-to-earnings ratio of 13.34, a price-to-earnings-growth ratio of 1.43 and a beta of 1.49. The company’s 50 day simple moving average is $84.67. FMC Corp has a 12 month low of $69.36 and a 12 month 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.

FMC (NYSE:FMC) last issued its quarterly earnings data on Tuesday, July 30th. The basic materials company reported $1.66 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.63 by $0.03. The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.20 billion. FMC had a net margin of 10.65% and a return on equity of 27.33%. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.78 earnings per share. Sell-side analysts forecast that FMC Corp will post 5.8 earnings per share for the current fiscal year.

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 given 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 yield of 1.91%. FMC’s dividend payout ratio (DPR) is 25.44%.

In other FMC news, insider Nicholas Pfeiffer sold 2,446 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were 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 can be accessed through this hyperlink. Also, CEO Pierre R. Brondeau sold 33,000 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $73.09, for a total transaction of $2,411,970.00. Following the completion of the transaction, the chief executive officer now owns 284,814 shares in the company, valued at $20,817,055.26. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 231,912 shares of company stock worth $20,075,116. 1.50% of the stock is owned by insiders.

Several equities analysts recently issued reports on the stock. Buckingham Research boosted their price target on shares of FMC from $94.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Citigroup restated a “buy” rating and issued a $93.00 price objective (up previously from $91.00) on shares of FMC in a report on Thursday, June 13th. Credit Suisse Group upped their price objective on shares of FMC from $97.00 to $102.00 and gave the stock an “outperform” rating in a report on Thursday, August 1st. Morgan Stanley started coverage on shares of FMC in a report on Monday, May 20th. They issued an “equal weight” rating and a $82.00 price objective on the stock. Finally, Nomura upped their price objective on shares of FMC from $93.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. FMC 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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Institutional Ownership by Quarter for FMC (NYSE:FMC)

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