Ferguson Wellman Capital Management Inc. Trims Stock Holdings in FMC Co. (NYSE:FMC)

Ferguson Wellman Capital Management Inc. cut its holdings in shares of FMC Co. (NYSE:FMCFree Report) by 5.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,668 shares of the basic materials company’s stock after selling 420 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in FMC were worth $483,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in FMC during the 4th quarter worth $215,051,000. Wellington Management Group LLP grew its holdings in shares of FMC by 17.7% during the third quarter. Wellington Management Group LLP now owns 10,881,670 shares of the basic materials company’s stock worth $728,745,000 after buying an additional 1,634,535 shares during the last quarter. Morgan Stanley increased its position in FMC by 80.7% in the 4th quarter. Morgan Stanley now owns 2,557,733 shares of the basic materials company’s stock valued at $319,205,000 after acquiring an additional 1,142,531 shares during the period. Manning & Napier Group LLC increased its position in FMC by 58.9% in the 3rd quarter. Manning & Napier Group LLC now owns 2,249,633 shares of the basic materials company’s stock valued at $150,658,000 after acquiring an additional 833,845 shares during the period. Finally, Qube Research & Technologies Ltd raised its stake in FMC by 175.2% during the 3rd quarter. Qube Research & Technologies Ltd now owns 835,871 shares of the basic materials company’s stock valued at $55,978,000 after acquiring an additional 532,158 shares during the last quarter. 86.91% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Andrew D. Sandifer acquired 2,150 shares of FMC stock in a transaction that occurred on Monday, March 4th. The shares were acquired at an average price of $59.22 per share, with a total value of $127,323.00. Following the completion of the purchase, the chief financial officer now owns 50,088 shares of the company’s stock, valued at approximately $2,966,211.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.85% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

FMC has been the topic of several analyst reports. Loop Capital lifted their target price on FMC from $55.00 to $65.00 and gave the company a “hold” rating in a research note on Tuesday. Royal Bank of Canada lowered their price objective on shares of FMC from $61.00 to $59.00 and set an “outperform” rating on the stock in a research report on Thursday, February 8th. Wolfe Research began coverage on shares of FMC in a research report on Friday, March 1st. They set a “peer perform” rating for the company. BMO Capital Markets reduced their target price on shares of FMC from $63.00 to $61.00 and set a “market perform” rating for the company in a research note on Wednesday, February 7th. Finally, BNP Paribas cut FMC from an “outperform” rating to a “neutral” rating and set a $56.00 target price on the stock. in a research report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, FMC currently has a consensus rating of “Hold” and an average target price of $71.56.

Check Out Our Latest Stock Analysis on FMC

FMC Stock Performance

NYSE:FMC opened at $64.91 on Friday. FMC Co. has a twelve month low of $49.49 and a twelve month high of $125.20. The company has a market capitalization of $8.10 billion, a P/E ratio of 6.16, a price-to-earnings-growth ratio of 2.06 and a beta of 0.86. The company has a current ratio of 1.52, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68. The firm has a 50-day moving average price of $57.38 and a two-hundred day moving average price of $60.11.

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 company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the prior year, the firm earned $2.37 earnings per share. As a group, research analysts expect that FMC Co. will post 3.88 earnings per share for the current fiscal year.

FMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 18th. Investors of record on Thursday, March 28th will be paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date of this dividend is Wednesday, March 27th. FMC’s payout ratio is currently 22.03%.

About FMC

(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 includes 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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