Cove Street Capital Lowers stake in FMC Corp (FMC)

FMC Corp (FMC) : Cove Street Capital reduced its stake in FMC Corp by 1.19% during the most recent quarter end. The investment management company now holds a total of 891,970 shares of FMC Corp which is valued at $41 Million after selling 10,730 shares in FMC Corp , the firm said in a disclosure report filed with the SEC on May 12, 2016.FMC Corp makes up approximately 5.51% of Cove Street Capital’s portfolio.

Other Hedge Funds, Including , Group One Trading sold out all of its stake in FMC during the most recent quarter. The investment firm sold 2,000 shares of FMC which is valued $92,000.Teacher Retirement System Of Texas boosted its stake in FMC in the latest quarter, The investment management firm added 4,021 additional shares and now holds a total of 7,277 shares of FMC Corp which is valued at $334,742. Dubuque Bank Trust Co sold out all of its stake in FMC during the most recent quarter. The investment firm sold 72 shares of FMC which is valued $3,456.Confluence Investment Management reduced its stake in FMC by selling 127 shares or 2.44% in the most recent quarter. The Hedge Fund company now holds 5,071 shares of FMC which is valued at $243,408. FMC Corp makes up approx 0.01% of Confluence Investment Management’s portfolio.Andra Ap-fonden boosted its stake in FMC in the latest quarter, The investment management firm added 18,800 additional shares and now holds a total of 29,700 shares of FMC Corp which is valued at $1.4 Million. FMC Corp makes up approx 0.04% of Andra Ap-fonden’s portfolio.

FMC Corp opened for trading at $46.11 and hit $47.03 on the upside on Friday, eventually ending the session at $46.5, with a gain of 1.73% or 0.79 points. The heightened volatility saw the trading volume jump to 16,26,888 shares. Company has a market cap of $6,219 M.

On the company’s financial health, FMC Corp reported $0.58 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on May 2, 2016. Analyst had a consensus of $0.53. The company had revenue of $798.80 million for the quarter, compared to analysts expectations of $779.88 million. The company’s revenue was up 21.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.62 EPS.

Investors should note that on Apr 26, 2016, FMC Corp announced a cash dividend of $0.1650. The company’s management has announced Jun 28, 2016 as the ex-dividend date and fixed the record date on Jun 30, 2016. The payable date has been fixed on Jul 21, 2016.

Many Wall Street Analysts have commented on FMC Corp. Shares were Downgraded by Credit Suisse on Apr 21, 2016 to ” Neutral” and Lowered the Price Target to $ 43 from a previous price target of $45 .FMC Corp was Initiated by Credit Agricole to “Outperform” on Apr 15, 2016.

FMC Corporation is a diversified chemical company. The Company serves agricultural consumer and industrial markets with solutions applications and products around the world. The Company operates in three business segments: FMC Agricultural Solutions FMC Health and Nutrition and FMC Lithium. The Company’s FMC Agricultural Solutions segment develops markets and sells three classes of crop protection chemicals which include insecticides herbicides and fungicides. The FMC Health and Nutrition segment focuses on food pharmaceutical ingredients nutraceuticals personal care and similar markets. The pharmaceutical additives are used for binding encapsulation and disintegrant applications. The Company’s FMC Lithium segment manufactures lithium products.

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