Sei Investments Co. Acquires 83,490 Shares of Freeport-McMoRan Inc. (NYSE:FCX)

Sei Investments Co. increased its position in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 11.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 799,649 shares of the natural resource company's stock after acquiring an additional 83,490 shares during the quarter. Sei Investments Co. owned 0.06% of Freeport-McMoRan worth $30,451,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in FCX. Geode Capital Management LLC raised its stake in Freeport-McMoRan by 1.9% during the 3rd quarter. Geode Capital Management LLC now owns 28,891,058 shares of the natural resource company's stock valued at $1,436,455,000 after purchasing an additional 529,099 shares during the period. Franklin Resources Inc. grew its holdings in shares of Freeport-McMoRan by 9.5% during the third quarter. Franklin Resources Inc. now owns 27,310,294 shares of the natural resource company's stock valued at $1,348,522,000 after buying an additional 2,366,187 shares in the last quarter. Amundi raised its position in Freeport-McMoRan by 30.2% during the fourth quarter. Amundi now owns 21,580,960 shares of the natural resource company's stock valued at $857,305,000 after buying an additional 5,001,531 shares during the period. Mountaineer Partners Management LLC lifted its stake in Freeport-McMoRan by 4,767.8% in the 3rd quarter. Mountaineer Partners Management LLC now owns 11,933,126 shares of the natural resource company's stock worth $595,702,000 after acquiring an additional 11,687,982 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Freeport-McMoRan by 3.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,487,881 shares of the natural resource company's stock worth $323,219,000 after acquiring an additional 264,843 shares during the period. Hedge funds and other institutional investors own 80.77% of the company's stock.

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Freeport-McMoRan Stock Down 4.0 %

Shares of NYSE FCX traded down $1.62 during mid-day trading on Friday, reaching $38.36. 20,221,875 shares of the company traded hands, compared to its average volume of 13,413,076. The company's fifty day moving average is $38.14 and its two-hundred day moving average is $41.97. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.18 and a current ratio of 2.42. Freeport-McMoRan Inc. has a fifty-two week low of $33.98 and a fifty-two week high of $55.24. The stock has a market cap of $55.13 billion, a PE ratio of 29.74, a price-to-earnings-growth ratio of 0.87 and a beta of 1.87.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last announced its quarterly earnings results on Thursday, January 23rd. The natural resource company reported $0.31 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.05). Freeport-McMoRan had a net margin of 7.42% and a return on equity of 7.50%. On average, analysts expect that Freeport-McMoRan Inc. will post 1.68 earnings per share for the current year.

Freeport-McMoRan Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Tuesday, April 15th will be issued a $0.15 dividend. The ex-dividend date is Tuesday, April 15th. This represents a $0.60 annualized dividend and a yield of 1.56%. Freeport-McMoRan's dividend payout ratio (DPR) is presently 23.26%.

Analyst Ratings Changes

A number of research firms have recently issued reports on FCX. StockNews.com lowered shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a research report on Thursday, March 20th. Dbs Bank upgraded shares of Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 10th. Jefferies Financial Group raised shares of Freeport-McMoRan from a "hold" rating to a "buy" rating and lifted their target price for the company from $40.00 to $48.00 in a research note on Thursday, February 27th. JPMorgan Chase & Co. raised shares of Freeport-McMoRan from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $48.00 to $52.00 in a research note on Thursday, March 20th. Finally, Scotiabank reduced their price objective on Freeport-McMoRan from $48.00 to $45.00 and set a "sector perform" rating for the company in a research report on Friday, January 24th. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $52.04.

Freeport-McMoRan Profile

Freeport-McMoRan Inc engages in the mining of mineral properties in North America, South America, and Indonesia. It primarily explores for copper, gold, molybdenum, silver, and other metals. The company's assets include the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, and Miami in Arizona; Chino and Tyrone in New Mexico; and Henderson and Climax in Colorado, North America, as well as Cerro Verde in Peru and El Abra in Chile.