Intech Investment Management LLC Cuts Stock Holdings in FMC Co. (NYSE:FMC)

Intech Investment Management LLC decreased its holdings in shares of FMC Co. (NYSE:FMC) by 53.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,754 shares of the basic materials company’s stock after selling 64,140 shares during the quarter. Intech Investment Management LLC’s holdings in FMC were worth $3,452,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. North Point Portfolio Managers Corp OH boosted its stake in FMC by 67.3% in the fourth quarter. North Point Portfolio Managers Corp OH now owns 118,531 shares of the basic materials company’s stock worth $7,473,000 after buying an additional 47,697 shares in the last quarter. Raymond James & Associates boosted its stake in FMC by 0.5% in the fourth quarter. Raymond James & Associates now owns 115,182 shares of the basic materials company’s stock worth $7,262,000 after buying an additional 610 shares in the last quarter. Invesco Ltd. boosted its stake in FMC by 37.9% in the third quarter. Invesco Ltd. now owns 1,764,469 shares of the basic materials company’s stock worth $118,166,000 after buying an additional 484,500 shares in the last quarter. Nordea Investment Management AB boosted its stake in FMC by 15.4% in the third quarter. Nordea Investment Management AB now owns 14,195 shares of the basic materials company’s stock worth $950,000 after buying an additional 1,889 shares in the last quarter. Finally, Exencial Wealth Advisors LLC purchased a new stake in FMC in the third quarter worth approximately $664,000. Hedge funds and other institutional investors own 91.86% of the company’s stock.

Insider Activity at FMC

In other FMC news, CFO Andrew D. Sandifer acquired 2,150 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were bought at an average cost of $59.22 per share, with a total value of $127,323.00. Following the completion of the transaction, the chief financial officer now directly owns 50,088 shares of the company’s stock, valued at approximately $2,966,211.36. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.81% of the stock is currently owned by insiders.

FMC Stock Up 2.8 %

FMC traded up $1.71 during trading on Monday, reaching $61.76. The stock had a trading volume of 1,435,500 shares, compared to its average volume of 1,931,538. FMC Co. has a one year low of $49.49 and a one year high of $111.95. The company has a current ratio of 1.46, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. The stock’s 50 day moving average is $61.59 and its two-hundred day moving average is $58.64. The company has a market capitalization of $7.71 billion, a price-to-earnings ratio of 6.89, a P/E/G ratio of 1.22 and a beta of 0.88.

FMC (NYSE:FMC) last issued its quarterly earnings results on Monday, May 6th. The basic materials company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.01. FMC had a return on equity of 7.68% and a net margin of 27.65%. The firm had revenue of $918.00 million during the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the company earned $1.77 earnings per share. The company’s revenue was down 31.7% on a year-over-year basis. As a group, analysts expect that FMC Co. will post 3.76 earnings per share for the current year.

FMC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Friday, June 28th will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.32 annualized dividend and a dividend yield of 3.76%. FMC’s dividend payout ratio (DPR) is presently 25.89%.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Wells Fargo & Company upped their target price on FMC from $65.00 to $68.00 and gave the stock an “equal weight” rating in a research note on Wednesday, May 8th. UBS Group raised FMC from a “neutral” rating to a “buy” rating and increased their price objective for the company from $61.00 to $84.00 in a research note on Wednesday, March 20th. BNP Paribas lowered FMC from an “outperform” rating to a “neutral” rating and set a $56.00 price objective for the company. in a research note on Wednesday, February 7th. Loop Capital increased their price objective on FMC from $55.00 to $65.00 and gave the company a “hold” rating in a research note on Tuesday, March 19th. Finally, Royal Bank of Canada increased their price objective on FMC from $65.00 to $81.00 and gave the company an “outperform” rating in a research note on Friday, May 10th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $70.56.

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.