A company’s own top management tend to have the best inside view into the business, so when company officers make major buys, investors are wise to take notice. Presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by the ”top brass” over the trailing six month period, one of which was a total of $151.2K by Ronaldo Pereira, EVP, President, FMC Americas at FMC Corp. (Symbol: FMC).
| Purchased | Insider | Title | Shares | Price/Share | Value |
|---|---|---|---|---|---|
| 09/13/2023 | Ronaldo Pereira | EVP, President, FMC Americas | 2,000 | $75.59 | $151,180.00 |
Pereira’s average cost works out to $75.59/share. In trading on Thursday, bargain hunters could buy shares of FMC Corp. (Symbol: FMC) and achieve a cost basis lower than Pereira, with shares changing hands as low as $49.67 per share. It should be noted that Pereira has collected $0.58/share in dividends since the time of their purchase, so they are currently down 33.5% on their purchase from a total return basis. Shares of FMC Corp. were changing hands at $49.80 at last check, trading off about 5.1% on Thursday. The chart below shows the one year performance of FMC shares, versus its 200 day moving average:
Looking at the chart above, FMC’s low point in its 52 week range is $49.56 per share, with $134.38 as the 52 week high point — that compares with a last trade of $49.80.
The current annualized dividend paid by FMC Corp. is $2.32/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 09/28/2023. Below is a long-term dividend history chart for FMC, which can be of good help in judging whether the most recent dividend with approx. 4.4% annualized yield is likely to continue.
Click here to find out which other top insider buys by the ”top brass” you need to know about »
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Image and article originally from www.nasdaq.com. Read the original article here.