Jacqueline Scanlan, Executive Vice President and Chief Human Resources Officer at FMC Corp (NYSE:FMC), recently sold 4,529 shares of common stock. The shares were sold at a price of $59.67 each, resulting in a total transaction value of $270,245. Following this transaction on November 11, 2024, Scanlan now holds 28,649 shares directly. This transaction was filed with the SEC under the standard reporting requirements for corporate insiders.
In other recent news, FMC Corporation (NYSE:FMC) reported a strong financial performance in its third quarter of 2024, featuring a 9% increase in sales growth and a 12% rise in organic sales growth. Notably, the North American market outperformed, while Latin America faced weather and economic challenges. Looking ahead, FMC projects a 19% increase in sales and a 32% rise in EBITDA for the fourth quarter. The company also plans to introduce four new active ingredients and targets $125 million to $150 million in cost savings from restructuring in 2024.
Additionally, FMC Corporation is planning to sell its Global Specialty Solutions business for $350 million, which will impact its revenue and EBITDA. The company's EPS is projected to grow by 54% at the midpoint and aims to reduce leverage and improve credit ratings through disciplined cash management. For 2025, FMC is targeting around 6% revenue growth, with cost favorability potentially reaching $200 million.
Despite some regional challenges and competitive market dynamics, FMC Corporation remains confident in its strategy and outlook. The company's disciplined approach to cost management and innovation is expected to drive continued growth and shareholder value. These are just a few of the recent developments concerning FMC Corporation.
InvestingPro Insights
The recent insider sale by Jacqueline Scanlan at FMC Corp (NYSE:FMC) comes at a time when the company's stock appears to be facing some headwinds. According to InvestingPro data, FMC's stock has experienced a 1-week price total return of -8.19% and a year-to-date return of -8.72%, suggesting recent market pressure.
Despite these short-term challenges, FMC maintains a strong dividend profile. An InvestingPro Tip highlights that the company has raised its dividend for 6 consecutive years, with a current dividend yield of 4.15%. This commitment to shareholder returns may provide some stability for investors during market fluctuations.
From a valuation perspective, FMC's P/E ratio stands at 4.84, which is relatively low compared to industry averages. This could indicate that the stock is undervalued, especially considering another InvestingPro Tip that suggests the valuation implies a strong free cash flow yield.
It's worth noting that InvestingPro offers 9 additional tips for FMC, providing a more comprehensive analysis for investors looking to deepen their understanding of the company's financial health and market position.
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