Employees Retirement System of Texas Has $56.69 Million Holdings in Freeport-McMoRan Inc. (NYSE:FCX)

Employees Retirement System of Texas increased its stake in shares of Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 24.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,488,802 shares of the natural resource company's stock after buying an additional 297,172 shares during the quarter. Employees Retirement System of Texas owned 0.10% of Freeport-McMoRan worth $56,694,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of FCX. Wellington Management Group LLP increased its holdings in Freeport-McMoRan by 237.4% during the 4th quarter. Wellington Management Group LLP now owns 9,218,518 shares of the natural resource company's stock valued at $351,041,000 after purchasing an additional 6,486,011 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Freeport-McMoRan by 21.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 31,885,531 shares of the natural resource company's stock worth $1,214,203,000 after purchasing an additional 5,735,171 shares in the last quarter. Amundi grew its holdings in shares of Freeport-McMoRan by 30.2% during the fourth quarter. Amundi now owns 21,580,960 shares of the natural resource company's stock worth $857,305,000 after purchasing an additional 5,001,531 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Freeport-McMoRan by 38.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 16,273,162 shares of the natural resource company's stock valued at $619,682,000 after buying an additional 4,488,210 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Freeport-McMoRan by 8.0% in the fourth quarter. Franklin Resources Inc. now owns 29,502,220 shares of the natural resource company's stock valued at $1,123,445,000 after buying an additional 2,191,926 shares during the last quarter. Institutional investors and hedge funds own 80.77% of the company's stock.

Freeport-McMoRan Trading Down 1.5%

Shares of Freeport-McMoRan stock traded down $0.57 during trading on Friday, reaching $38.46. 17,234,796 shares of the company were exchanged, compared to its average volume of 16,254,985. The business has a 50-day moving average price of $36.36 and a 200-day moving average price of $38.48. The firm has a market capitalization of $55.27 billion, a price-to-earnings ratio of 29.81, a P/E/G ratio of 0.87 and a beta of 1.65. The company has a quick ratio of 1.18, a current ratio of 2.42 and a debt-to-equity ratio of 0.31. Freeport-McMoRan Inc. has a twelve month low of $27.66 and a twelve month high of $53.29.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last issued its earnings results on Thursday, April 24th. The natural resource company reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.23 by $0.01. The firm had revenue of $5.73 billion for the quarter, compared to analysts' expectations of $5.36 billion. Freeport-McMoRan had a return on equity of 7.50% and a net margin of 7.42%. The company's revenue was down 9.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.32 earnings per share. Sell-side analysts anticipate that Freeport-McMoRan Inc. will post 1.68 EPS for the current fiscal year.

Freeport-McMoRan Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Tuesday, April 15th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date was Tuesday, April 15th. Freeport-McMoRan's dividend payout ratio is currently 24.79%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on FCX shares. Raymond James reissued an "outperform" rating and set a $52.00 price objective on shares of Freeport-McMoRan in a report on Friday, April 25th. Argus cut shares of Freeport-McMoRan from a "buy" rating to a "hold" rating in a research note on Friday, January 31st. Deutsche Bank Aktiengesellschaft raised shares of Freeport-McMoRan from a "hold" rating to a "buy" rating and set a $47.00 price target for the company in a report on Thursday, March 6th. Dbs Bank upgraded Freeport-McMoRan from a "hold" rating to a "strong-buy" rating in a research report on Monday, March 10th. Finally, Jefferies Financial Group reissued a "buy" rating and issued a $50.00 target price (up from $48.00) on shares of Freeport-McMoRan in a research note on Friday, April 25th. Five equities research analysts have rated the stock with a hold rating, eight have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $48.36.

Freeport-McMoRan Company 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.