On June 1, 2023, Ameritas Advisory Services LLC announced that it had acquired a new stake in FMC Co. This move comes after the institutional investor acquired 1,892 shares of the basic materials company’s stock during the fourth quarter of 2022. The value of this deal stands at approximately $236,000.
FMC Co is well known for its leading role in providing essential products and solutions to customers worldwide. They have been able to leverage their expertise in science and innovation to create high-performing agricultural technologies, lithium technologies as well as solutions for pest control.
In addition, FMC Co recently declared a quarterly dividend which will be paid on July 20th. Stockholders who are eligible will receive a payment of $0.58 per share of stock held if they are listed on the register by June 30th. Shareholders who purchase shares between June 29th and July 20th will not be entitled to receive this dividend.
Furthermore, in related news, CEO Mark Douglas bought 4,121 shares of FMC stock in a transaction that occurred on May 3rd. He purchased these shares at an average cost of $115.53 per share, with a total transaction cost totalling $476,099.13. Following the acquisition, the Chief Executive Officer now directly owns an additional set of stocks representing his interest in this enterprise.
This recent development is good news for shareholders who are looking for stability and growth opportunities moving forward. According to insiders’ reports filed with the Securities & Exchange Commission (SEC), there hasn’t been much trading activity among executives at FMC Co., indicating that management has faith in their financial position.
The data surrounding these transactions shows that insiders possess less than one percent ownership collectively; however, it is important to note that some insiders may hold higher stakes than others. The move by Ameritas Advisory Services LLC and CEO Mark Douglas buying additional stocks points towards a potential uptick in FMC’s business prospects and suggests that shareholder value may soon be elevated.
In conclusion, the latest news on FMC Co. is positive for investors, with Ameritas Advisory Services LLC acquiring new shares and CEO Mark Douglas buying more stock, solidifying management’s confidence in their strategy going forward. Additionally, the company’s payment of dividends presents an opportunity for investors to not only see a return on their investment but also reinvested gains as well.
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FMC Corporation: A Mixed Picture for Investors
FMC Corporation’s stock has been attracting the interest of investors and research firms alike in recent months. Several large investors have either added to or reduced their stakes in FMC, as evidenced by General Partner Inc., TCI Wealth Advisors Inc., Parkside Financial Bank & Trust, Edge Capital Group LLC, and High Net Worth Advisory Group LLC. Consequently, institutional investors now own 88.28% of the basic materials company.
Research firms have also been analyzing FMC recently. BMO Capital Markets gave the stock an “outperform” rating and increased its target price to $145.00 from $140.00 in a report published on February 9th. The Goldman Sachs Group’s report, also published in mid-February, upgraded FMC to “buy” from “neutral” and increased the targeted price from $155.00 to $159.00.
On the other hand, Royal Bank of Canada downgraded their recommendation on FMC recently and cut their price target from $140.00 to $136.00 in a report released on May 4th, citing weaker-than-expected first-quarter fundamentals.
As for dividends paid out by FMC Corporation, it has declared a quarterly dividend of $0.58 per share that will be distributed on Thursday, July 20th. Shareholders who were listed as owners on Friday June 30th would receive this dividend payment as long as they had not already sold or transferred their shares before June 29th’s ex-dividend date . This will yield an annualized dividend of $2.32 per share while representing a payout ratio thus far around 40%.
FMC Corporation is currently trading at a market capitalization worth approximately $13 billion with a PE ratio at about 18x along with having a debt-to-equity ratio of 0.67% and beta rate of .82%. Its reported last quarter earnings exceeded expectations slightly at $1.77 per share, which surpassed projections by $0.04 per share and beat last year’s earnings for the same period of time. Meanwhile, FMC Corp’s current revenues are down around 0.7% year over year at approximately $1.34 billion while a moderate buy sentiment seems to emanate from a consensus as its ratings suggest.
Overall, investors appear to hold mixed opinions about FMC Corporation’s prospects in the short term due to its first-quarter fundamentals not meeting expectations; however, other experts have viewed this as a buying opportunity due to the moderate dividend distribution and put a “buy” rating towards FMC’s current financial state.
