State Board of Administration of Florida Retirement System Acquires 31,678 Shares of FMC Co. (NYSE:FMC)

State Board of Administration of Florida Retirement System grew its holdings in FMC Co. (NYSE:FMCFree Report) by 21.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 180,571 shares of the basic materials company’s stock after buying an additional 31,678 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in FMC were worth $12,093,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the business. Norges Bank purchased a new stake in FMC during the 4th quarter worth about $215,051,000. Morgan Stanley raised its position in shares of FMC by 80.7% in the fourth quarter. Morgan Stanley now owns 2,557,733 shares of the basic materials company’s stock worth $319,205,000 after buying an additional 1,142,531 shares in the last quarter. Manning & Napier Group LLC raised its stake in FMC by 58.9% in the third quarter. Manning & Napier Group LLC now owns 2,249,633 shares of the basic materials company’s stock valued at $150,658,000 after purchasing an additional 833,845 shares in the last quarter. JPMorgan Chase & Co. raised its stake in FMC by 93.7% in the second quarter. JPMorgan Chase & Co. now owns 1,078,180 shares of the basic materials company’s stock valued at $112,497,000 after purchasing an additional 521,454 shares in the last quarter. Finally, Invesco Ltd. raised its position in FMC by 41.5% during the first quarter. Invesco Ltd. now owns 1,581,629 shares of the basic materials company’s stock valued at $208,094,000 after purchasing an additional 463,542 shares in the last quarter. 86.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the stock. UBS Group lifted their price target on shares of FMC from $59.00 to $61.00 and gave the stock a “neutral” rating in a research note on Thursday, January 11th. Bank of America lowered shares of FMC from a “neutral” rating to an “underperform” rating and lowered their price target for the company from $60.00 to $57.00 in a report on Tuesday, January 16th. KeyCorp reduced their price objective on shares of FMC from $80.00 to $76.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 7th. Mizuho reduced their target price on shares of FMC from $59.00 to $55.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 6th. Finally, Wells Fargo & Company cut their price objective on shares of FMC from $99.00 to $73.00 and set an “equal weight” rating on the stock in a research report on Monday, October 23rd. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $74.53.

Read Our Latest Report on FMC

FMC Stock Up 3.6 %

Shares of FMC stock opened at $53.61 on Tuesday. The company has a market capitalization of $6.69 billion, a price-to-earnings ratio of 5.09, a PEG ratio of 1.63 and a beta of 0.88. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.01. FMC Co. has a one year low of $49.49 and a one year high of $131.77. The company’s fifty day moving average price is $58.55 and its 200-day moving average price is $65.92.

FMC (NYSE:FMCGet Free Report) last issued its quarterly earnings data on Tuesday, February 6th. The basic materials company reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.01). FMC had a return on equity of 12.98% and a net margin of 29.45%. The firm had revenue of $1.15 billion for the quarter, compared to analysts’ expectations of $1.25 billion. During the same period last year, the company earned $2.37 earnings per share. Sell-side analysts expect that FMC Co. will post 3.97 EPS for the current fiscal year.

FMC Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 18th. Investors of record on Friday, December 29th were given a $0.58 dividend. The ex-dividend date was Thursday, December 28th. This represents a $2.32 annualized dividend and a yield of 4.33%. FMC’s dividend payout ratio is currently 22.03%.

Insiders Place Their Bets

In related news, Director Robert C. Pallash bought 3,845 shares of the company’s stock in a transaction dated Monday, November 27th. The stock was purchased at an average price of $52.48 per share, for a total transaction of $201,785.60. Following the acquisition, the director now owns 47,871 shares in the company, valued at $2,512,270.08. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. 0.85% of the stock is currently owned by insiders.

FMC Profile

(Free Report)

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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Institutional Ownership by Quarter for FMC (NYSE:FMC)

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