Freeport-McMoRan Inc. $FCX Shares Purchased by Barrow Hanley Mewhinney & Strauss LLC

Barrow Hanley Mewhinney & Strauss LLC grew its holdings in Freeport-McMoRan Inc. (NYSE:FCX - Free Report) by 1.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,970,872 shares of the natural resource company's stock after acquiring an additional 141,738 shares during the period. Freeport-McMoRan comprises approximately 1.9% of Barrow Hanley Mewhinney & Strauss LLC's holdings, making the stock its 10th biggest holding. Barrow Hanley Mewhinney & Strauss LLC owned about 0.69% of Freeport-McMoRan worth $627,068,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Strategic Investment Solutions Inc. IL acquired a new stake in Freeport-McMoRan during the 4th quarter valued at approximately $25,000. Steph & Co. grew its holdings in Freeport-McMoRan by 43.7% during the 1st quarter. Steph & Co. now owns 493 shares of the natural resource company's stock worth $29,000 after acquiring an additional 150 shares in the last quarter. Cassaday & Co Wealth Management LLC bought a new stake in shares of Freeport-McMoRan in the 1st quarter worth about $29,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Freeport-McMoRan in the 4th quarter valued at about $29,000. Finally, SHP Wealth Management bought a new position in shares of Freeport-McMoRan during the fourth quarter worth about $30,000. Hedge funds and other institutional investors own 80.77% of the company's stock.

Insider Activity

In other Freeport-McMoRan news, CAO Ellie L. Mikes sold 4,773 shares of the company's stock in a transaction dated Wednesday, August 5th. The shares were sold at an average price of $70.00, for a total value of $334,110.00. Following the completion of the sale, the chief accounting officer directly owned 36,000 shares of the company's stock, valued at approximately $2,520,000. This represents a 11.71% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Stephen T. Higgins sold 14,277 shares of Freeport-McMoRan stock in a transaction that occurred on Wednesday, August 5th. The stock was sold at an average price of $69.50, for a total transaction of $992,251.50. Following the completion of the transaction, the chief accounting officer directly owned 54,618 shares in the company, valued at $3,795,951. This represents a 20.72% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 26,600 shares of company stock worth $1,802,012. 0.73% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the company. The Goldman Sachs Group cut their price objective on Freeport-McMoRan from $75.00 to $74.00 and set a "buy" rating on the stock in a research note on Wednesday, July 8th. Weiss Ratings raised shares of Freeport-McMoRan from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, July 31st. Morgan Stanley raised their target price on shares of Freeport-McMoRan from $66.00 to $70.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 8th. Wells Fargo & Company upped their target price on Freeport-McMoRan from $68.00 to $70.00 and gave the company an "overweight" rating in a report on Friday, July 24th. Finally, CICC Research reduced their price objective on Freeport-McMoRan from $64.40 to $63.40 and set an "outperform" rating for the company in a research report on Tuesday, April 28th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Freeport-McMoRan presently has a consensus rating of "Moderate Buy" and a consensus target price of $70.27.

Freeport-McMoRan Price Performance

NYSE FCX opened at $76.68 on Monday. Freeport-McMoRan Inc. has a 12 month low of $35.15 and a 12 month high of $77.33. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.07 and a quick ratio of 0.92. The firm has a market capitalization of $110.11 billion, a PE ratio of 37.77, a P/E/G ratio of 0.76 and a beta of 1.37. The company's 50 day simple moving average is $64.55 and its 200 day simple moving average is $63.44.

Freeport-McMoRan (NYSE:FCX - Get Free Report) last released its earnings results on Thursday, July 23rd. The natural resource company reported $0.74 earnings per share for the quarter, topping analysts' consensus estimates of $0.62 by $0.12. The firm had revenue of $7.03 billion during the quarter, compared to the consensus estimate of $6.62 billion. Freeport-McMoRan had a return on equity of 10.63% and a net margin of 11.39%.The firm's revenue for the quarter was down 7.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.54 earnings per share. As a group, equities research analysts forecast that Freeport-McMoRan Inc. will post 2.79 EPS for the current fiscal year.

Freeport-McMoRan Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Wednesday, July 15th were issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Wednesday, July 15th. Freeport-McMoRan's payout ratio is presently 14.78%.

Freeport-McMoRan Profile

Freeport-McMoRan Inc is a U.S.-based natural resources company primarily engaged in the exploration, mining and processing of copper, gold and molybdenum. Its operations encompass large-scale open-pit and underground mining as well as associated concentrator and milling facilities. The company produces copper in the form of concentrates and cathodes, and also recovers gold and molybdenum as co-products; its business model includes exploration, development, mining, beneficiation and the sale of bulk commodities to smelters and industrial customers.

Freeport-McMoRan conducts operations and development activities across multiple geographies, with substantial assets in the Americas and Indonesia.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source