New York State Teachers Retirement System Sells 1,504 Shares of FMC Co. (NYSE:FMC)

New York State Teachers Retirement System lessened its stake in shares of FMC Co. (NYSE:FMC) by 1.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 122,711 shares of the basic materials company’s stock after selling 1,504 shares during the quarter. New York State Teachers Retirement System owned 0.10% of FMC worth $7,737,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Steward Partners Investment Advisory LLC raised its position in FMC by 68.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 228 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 93 shares during the last quarter. CVA Family Office LLC bought a new position in FMC in the 4th quarter valued at $31,000. Quintet Private Bank Europe S.A. bought a new position in FMC in the 3rd quarter valued at $33,000. Spire Wealth Management raised its position in FMC by 143.1% in the 3rd quarter. Spire Wealth Management now owns 508 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 299 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its position in FMC by 50.0% in the 3rd quarter. Parkside Financial Bank & Trust now owns 684 shares of the basic materials company’s stock valued at $46,000 after purchasing an additional 228 shares during the last quarter. Institutional investors own 91.86% of the company’s stock.

Analysts Set New Price Targets

FMC has been the subject of several research analyst reports. UBS Group upgraded FMC from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $61.00 to $84.00 in a research report on Wednesday, March 20th. Roth Mkm assumed coverage on FMC in a research note on Thursday, January 4th. They issued a “buy” rating and a $74.00 target price for the company. StockNews.com raised FMC from a “sell” rating to a “hold” rating in a research note on Wednesday. Wolfe Research assumed coverage on FMC in a research note on Friday, March 1st. They issued a “peer perform” rating for the company. Finally, 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, March 19th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, FMC presently has a consensus rating of “Hold” and an average price target of $71.75.

Insider Activity

In other news, CFO Andrew D. Sandifer purchased 2,150 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were bought at an average cost of $59.22 per share, for a total transaction of $127,323.00. Following the completion of the acquisition, the chief financial officer now directly owns 50,088 shares in the company, valued at approximately $2,966,211.36. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.81% of the company’s stock.

FMC Stock Down 1.1 %

NYSE:FMC opened at $61.55 on Friday. FMC Co. has a 1 year low of $49.49 and a 1 year high of $125.20. 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 stock has a market cap of $7.68 billion, a price-to-earnings ratio of 5.85, a PEG ratio of 1.94 and a beta of 0.87. The stock has a 50-day moving average price of $58.70 and a two-hundred day moving average price of $58.67.

FMC (NYSE:FMC) last posted its earnings results on Tuesday, February 6th. The basic materials company reported $1.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.01). FMC had a net margin of 29.45% and a return on equity of 12.98%. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period in the previous year, the firm posted $2.37 earnings per share. As a group, equities analysts expect that FMC Co. will post 3.88 earnings per share for the current year.

FMC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 18th. Shareholders of record on Thursday, March 28th will be paid a $0.58 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $2.32 dividend on an annualized basis and a yield of 3.77%. FMC’s payout ratio is 22.03%.

About FMC

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.