Qube Research & Technologies Ltd Buys New Holdings in FMC Corp (NYSE:FMC)

Qube Research & Technologies Ltd bought a new stake in shares of FMC Corp (NYSE:FMC) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,082 shares of the basic materials company’s stock, valued at approximately $256,000.

A number of other hedge funds also recently modified their holdings of the stock. Huntington National Bank lifted its holdings in FMC by 754.1% in the 2nd quarter. Huntington National Bank now owns 316 shares of the basic materials company’s stock worth $25,000 after buying an additional 279 shares during the period. Squar Milner Financial Services LLC lifted its holdings in FMC by 51.4% in the 2nd quarter. Squar Milner Financial Services LLC now owns 383 shares of the basic materials company’s stock worth $32,000 after buying an additional 130 shares during the period. Global Retirement Partners LLC lifted its holdings in FMC by 128.6% in the 1st quarter. Global Retirement Partners LLC now owns 455 shares of the basic materials company’s stock worth $35,000 after buying an additional 256 shares during the period. Pennsylvania Trust Co purchased a new stake in FMC in the 1st quarter worth approximately $48,000. Finally, AdvisorNet Financial Inc purchased a new stake in FMC in the 2nd quarter worth approximately $80,000. Institutional investors own 89.79% of the company’s stock.

In other news, insider Nicholas Pfeiffer sold 2,446 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $80.67, for a total value of $197,318.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Pierre R. Brondeau sold 196,466 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $32,784,364.20. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by corporate insiders.

FMC has been the subject of several research analyst reports. Morgan Stanley initiated coverage on FMC in a report on Monday, May 20th. They issued an “equal weight” rating and a $82.00 price objective for the company. Goldman Sachs Group cut FMC from a “buy” rating to a “neutral” rating in a report on Friday, August 2nd. Citigroup reiterated 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. Bank of America cut FMC from a “buy” rating to a “neutral” rating in a report on Thursday, August 1st. Finally, SunTrust Banks increased their price objective on FMC to $98.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. FMC presently has a consensus rating of “Buy” and an average price target of $96.85.

Shares of NYSE:FMC traded up $1.05 during trading on Wednesday, hitting $86.44. The stock had a trading volume of 4,015 shares, compared to its average volume of 1,092,485. FMC Corp has a 12 month low of $69.36 and a 12 month high of $92.76. The company has a market capitalization of $11.14 billion, a PE ratio of 13.67, a PEG ratio of 1.43 and a beta of 1.49. The firm’s fifty day moving average is $84.89 and its 200 day moving average is $81.14. The company has a quick ratio of 0.91, a current ratio of 1.27 and a debt-to-equity ratio of 0.77.

FMC (NYSE:FMC) last announced its earnings results on Tuesday, July 30th. The basic materials company reported $1.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.03. FMC had a return on equity of 27.33% and a net margin of 10.65%. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the prior year, the company earned $1.78 EPS. The business’s revenue was up 4.5% compared to the same quarter last year. Equities research analysts expect that FMC Corp will post 5.8 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Monday, September 30th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.85%. The ex-dividend date is Friday, September 27th. FMC’s dividend payout ratio is currently 25.44%.

FMC 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.

Further Reading: Oversold

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Institutional Ownership by Quarter for FMC (NYSE:FMC)

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