Mercer Global Advisors Inc. ADV Cuts Holdings in FMC Co. (NYSE:FMC)

Posted by MarketBeat News on May 21st, 2023

Mercer Global Advisors Inc. ADV reduced its position in FMC Co. (NYSE:FMC – Get Rating) by 4.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,924 shares of the basic materials company’s stock after selling 243 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in FMC were worth $615,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in FMC by 0.7% in the third quarter. Vanguard Group Inc. now owns 14,253,322 shares of the basic materials company’s stock valued at $1,506,576,000 after purchasing an additional 99,473 shares during the period. BlackRock Inc. increased its position in shares of FMC by 1.8% during the third quarter. BlackRock Inc. now owns 11,561,614 shares of the basic materials company’s stock worth $1,222,062,000 after acquiring an additional 209,813 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of FMC by 14.3% during the third quarter. Price T Rowe Associates Inc. MD now owns 3,085,382 shares of the basic materials company’s stock worth $326,126,000 after acquiring an additional 386,465 shares during the last quarter. Invesco Ltd. increased its position in shares of FMC by 41.5% during the first quarter. Invesco Ltd. now owns 1,581,629 shares of the basic materials company’s stock worth $208,094,000 after acquiring an additional 463,542 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of FMC by 10.0% during the third quarter. Bank of New York Mellon Corp now owns 1,471,168 shares of the basic materials company’s stock worth $155,502,000 after acquiring an additional 133,207 shares during the last quarter. 88.28% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Ronaldo Pereira sold 1,955 shares of FMC stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $129.29, for a total transaction of $252,761.95. Following the sale, the executive vice president now owns 19,478 shares of the company’s stock, valued at $2,518,310.62. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Ronaldo Pereira sold 1,955 shares of FMC stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $129.29, for a total transaction of $252,761.95. Following the sale, the executive vice president now owns 19,478 shares of the company’s stock, valued at $2,518,310.62. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Andrew D. Sandifer sold 5,000 shares of FMC stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $127.77, for a total value of $638,850.00. Following the sale, the chief financial officer now directly owns 39,061 shares in the company, valued at approximately $4,990,823.97. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,376 shares of company stock valued at $1,465,016. Insiders own 0.85% of the company’s stock.

Wall Street Analysts Forecast Growth

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A number of analysts have recently issued reports on the company. Redburn Partners raised FMC from a “neutral” rating to a “buy” rating and set a $155.00 target price on the stock in a research report on Friday, March 17th. BMO Capital Markets lifted their target price on FMC from $140.00 to $145.00 and gave the stock an “outperform” rating in a research report on Thursday, February 9th. Mizuho decreased their price target on FMC from $150.00 to $147.00 in a research note on Wednesday, May 3rd. The Goldman Sachs Group lifted their price target on FMC from $155.00 to $159.00 and gave the stock a “buy” rating in a research note on Tuesday, February 14th. Finally, Credit Suisse Group lifted their price target on FMC from $112.00 to $120.00 and gave the stock an “underperform” rating in a research note on Wednesday, February 8th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $143.38.

FMC Stock Performance

Shares of FMC stock opened at $108.91 on Friday. The company has a quick ratio of 0.88, a current ratio of 1.29 and a debt-to-equity ratio of 0.67. The business has a 50 day moving average of $117.96 and a two-hundred day moving average of $124.11. FMC Co. has a 52 week low of $98.24 and a 52 week high of $134.38. The company has a market cap of $13.62 billion, a P/E ratio of 19.01, a PEG ratio of 1.40 and a beta of 0.82.

FMC (NYSE:FMC – Get Rating) last issued its earnings results on Monday, May 1st. The basic materials company reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.73 by $0.04. FMC had a return on equity of 27.91% and a net margin of 12.51%. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the previous year, the firm posted $1.88 earnings per share. FMC’s quarterly revenue was down .7% compared to the same quarter last year. As a group, analysts anticipate that FMC Co. will post 7.76 EPS for the current year.

FMC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 20th. Stockholders of record on Friday, June 30th will be issued a dividend of $0.58 per share. The ex-dividend date of this dividend is Thursday, June 29th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 2.13%. FMC’s dividend payout ratio (DPR) is presently 40.49%.

FMC Company Profile

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FMC Corp. is an agricultural sciences company, which engages in the provision of solutions to growers and development of pipeline in crop protection, plant health, precision agriculture, and professional pest, and turf management. It offers insect control products under the Rynaxypyr and Cyazypyr brands, herbicides under the Authority, Boral, Centium, Command, and Gamit brands, insecticides under the Talstar and Hero brands, flutriafol-based fungicides, and bionematicides under the Quartzo and Presence brands.