Toronto Dominion Bank Boosts Stake in FMC Corp (FMC)
Toronto Dominion Bank raised its stake in shares of FMC Corp (NYSE:FMC) by 13.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 57,827 shares of the basic materials company’s stock after acquiring an additional 6,952 shares during the period. Toronto Dominion Bank’s holdings in FMC were worth $5,474,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of FMC. Oakbrook Investments LLC increased its position in shares of FMC by 27.9% during the 3rd quarter. Oakbrook Investments LLC now owns 13,290 shares of the basic materials company’s stock valued at $1,187,000 after purchasing an additional 2,900 shares during the last quarter. Nationwide Fund Advisors increased its position in shares of FMC by 12.0% during the 3rd quarter. Nationwide Fund Advisors now owns 278,929 shares of the basic materials company’s stock valued at $24,911,000 after purchasing an additional 29,858 shares during the last quarter. Aperio Group LLC increased its position in shares of FMC by 6.4% during the 3rd quarter. Aperio Group LLC now owns 49,289 shares of the basic materials company’s stock valued at $4,402,000 after purchasing an additional 2,960 shares during the last quarter. Canada Pension Plan Investment Board increased its position in shares of FMC by 4.2% during the 3rd quarter. Canada Pension Plan Investment Board now owns 228,373 shares of the basic materials company’s stock valued at $20,396,000 after purchasing an additional 9,303 shares during the last quarter. Finally, Gabelli Funds LLC increased its position in shares of FMC by 1.8% during the 3rd quarter. Gabelli Funds LLC now owns 34,600 shares of the basic materials company’s stock valued at $3,090,000 after purchasing an additional 600 shares during the last quarter. Institutional investors and hedge funds own 90.64% of the company’s stock.
In other FMC news, insider Mark Douglas sold 10,698 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $84.41, for a total value of $903,018.18. Following the completion of the transaction, the insider now directly owns 63,191 shares in the company, valued at approximately $5,333,952.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.10% of the company’s stock.
FMC (NYSE:FMC) last posted its quarterly earnings results on Monday, February 12th. The basic materials company reported $1.10 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.05. FMC had a return on equity of 16.82% and a net margin of 18.61%. The business had revenue of $979.60 million during the quarter, compared to the consensus estimate of $993.57 million. During the same period in the prior year, the company posted $0.88 EPS. The firm’s revenue for the quarter was up 42.3% compared to the same quarter last year. equities analysts anticipate that FMC Corp will post 5.45 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 19th. Shareholders of record on Thursday, March 29th will be paid a $0.165 dividend. The ex-dividend date is Wednesday, March 28th. This represents a $0.66 annualized dividend and a yield of 0.81%. FMC’s payout ratio is 38.82%.
Several equities research analysts have recently commented on FMC shares. Seaport Global Securities raised shares of FMC from a “neutral” rating to a “buy” rating in a research report on Thursday, February 15th. Credit Suisse Group set a $111.00 price target on shares of FMC and gave the company a “buy” rating in a research report on Tuesday, January 16th. SunTrust Banks reaffirmed a “buy” rating and set a $98.00 price target on shares of FMC in a research report on Thursday, February 15th. Goldman Sachs Group started coverage on shares of FMC in a research report on Monday, December 4th. They set a “neutral” rating and a $98.00 price target for the company. Finally, Stephens started coverage on shares of FMC in a report on Monday, December 4th. They issued an “equal weight” rating and a $91.00 target price for the company. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. FMC currently has an average rating of “Buy” and a consensus target price of $98.37.
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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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