Lapides Asset Management Lowers stake in FMC Corp (FMC)

FMC Corp (FMC) : Lapides Asset Management reduced its stake in FMC Corp by 0.2% during the most recent quarter end. The investment management company now holds a total of 293,900 shares of FMC Corp which is valued at $14,210,065 after selling 600 shares in FMC Corp , the firm said in a disclosure report filed with the SEC on Aug 8, 2016.FMC Corp makes up approximately 2.34% of Lapides Asset Management’s portfolio.

Other Hedge Funds, Including , Janney Montgomery Scott added FMC to its portfolio by purchasing 6,780 company shares during the most recent quarter which is valued at $327,135.Td Asset Management Inc boosted its stake in FMC in the latest quarter, The investment management firm added 670 additional shares and now holds a total of 58,124 shares of FMC Corp which is valued at $2,804,483.Sumitomo Mitsui Asset Management Company Ltd boosted its stake in FMC in the latest quarter, The investment management firm added 176 additional shares and now holds a total of 10,161 shares of FMC Corp which is valued at $483,054. FMC Corp makes up approx 0.01% of Sumitomo Mitsui Asset Management Company Ltd’s portfolio.

FMC Corp opened for trading at $47.95 and hit $48.58 on the upside on Monday, eventually ending the session at $48.29, with a gain of 1.34% or 0.64 points. The heightened volatility saw the trading volume jump to 8,51,425 shares. Company has a market cap of $6,462 M.

On the company’s financial health, FMC Corp reported $0.69 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Aug 2, 2016. Analyst had a consensus of $0.68. The company had revenue of $810.30 million for the quarter, compared to analysts expectations of $894.31 million. The company’s revenue was down -8.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.70 EPS.

Investors should note that on Jul 20, 2016, FMC Corp announced a cash dividend of $0.1650. The company’s management has announced Sep 28, 2016 as the ex-dividend date and fixed the record date on Sep 30, 2016. The payable date has been fixed on Oct 20, 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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