Teachers Retirement System of The State of Kentucky increased its holdings in shares of FMC Co. (NYSE:FMC – Get Rating) by 290.1% during the first quarter, Holdings Channel.com reports. The fund owned 37,060 shares of the basic materials company’s stock after purchasing an additional 27,560 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in FMC were worth $4,876,000 as of its most recent filing with the SEC.
A number of other hedge funds have also bought and sold shares of the business. Private Advisor Group LLC increased its holdings in FMC by 7.0% in the 4th quarter. Private Advisor Group LLC now owns 5,633 shares of the basic materials company’s stock valued at $619,000 after buying an additional 369 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in FMC by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 886,543 shares of the basic materials company’s stock valued at $97,423,000 after buying an additional 13,422 shares during the period. PEAK6 Investments LLC increased its holdings in FMC by 296.3% in the 4th quarter. PEAK6 Investments LLC now owns 31,991 shares of the basic materials company’s stock valued at $3,515,000 after buying an additional 48,291 shares during the period. Gabelli Funds LLC increased its holdings in FMC by 38.8% in the 4th quarter. Gabelli Funds LLC now owns 69,400 shares of the basic materials company’s stock valued at $7,626,000 after buying an additional 19,400 shares during the period. Finally, Geode Capital Management LLC increased its holdings in FMC by 17.1% in the 4th quarter. Geode Capital Management LLC now owns 2,616,708 shares of the basic materials company’s stock valued at $286,878,000 after buying an additional 382,597 shares during the period. 87.42% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on FMC shares. UBS Group decreased their target price on shares of FMC from $149.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, July 13th. Credit Suisse Group cut their target price on shares of FMC from $109.00 to $105.00 and set an “underperform” rating on the stock in a research report on Wednesday, August 3rd. StockNews.com downgraded shares of FMC from a “buy” rating to a “hold” rating in a research report on Saturday, August 27th. Redburn Partners downgraded shares of FMC from a “buy” rating to a “neutral” rating in a research report on Monday, June 13th. Finally, Bank of America upgraded shares of FMC from an “underperform” rating to a “buy” rating and set a $127.00 price target on the stock in a research report on Tuesday, June 21st. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $132.64.
FMC Stock Down 2.2 %
FMC (NYSE:FMC – Get Rating) last issued its quarterly earnings results on Tuesday, August 2nd. The basic materials company reported $1.93 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.04. FMC had a net margin of 12.80% and a return on equity of 30.64%. During the same quarter in the previous year, the company earned $1.81 EPS. As a group, analysts expect that FMC Co. will post 7.45 EPS for the current fiscal year.
FMC Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 20th. Stockholders of record on Friday, September 30th will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Thursday, September 29th. FMC’s dividend payout ratio (DPR) is presently 38.97%.
FMC Company Profile
FMC Corporation, an agricultural sciences company, provides crop protection, plant health, and professional pest and turf management products. It develops, markets, and sells crop protection chemicals that include insecticides, herbicides, and fungicides; and biologicals, crop nutrition, and seed treatment products, which are used in agriculture to enhance crop yield and quality by controlling a range of insects, weeds, and diseases, as well as in non-agricultural markets for pest control.
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