CX Institutional Trims Stock Position in FMC Co. (NYSE:FMC)

CX Institutional lessened its position in FMC Co. (NYSE:FMC) by 57.7% during the first quarter, Holdings Channel reports. The fund owned 2,573 shares of the basic materials company’s stock after selling 3,513 shares during the period. CX Institutional’s holdings in FMC were worth $109,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in FMC. Norges Bank bought a new stake in shares of FMC during the 4th quarter valued at about $49,888,000. Invesco Ltd. lifted its stake in shares of FMC by 37.8% in the 4th quarter. Invesco Ltd. now owns 3,559,107 shares of the basic materials company’s stock worth $173,008,000 after purchasing an additional 977,110 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of FMC by 44.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,286,177 shares of the basic materials company’s stock worth $111,131,000 after buying an additional 707,727 shares during the period. Bank of New York Mellon Corp increased its stake in FMC by 48.9% in the 4th quarter. Bank of New York Mellon Corp now owns 2,088,235 shares of the basic materials company’s stock worth $101,509,000 after buying an additional 685,995 shares in the last quarter. Finally, Balyasny Asset Management L.P. boosted its position in shares of FMC by 762.4% during the fourth quarter. Balyasny Asset Management L.P. now owns 484,040 shares of the basic materials company’s stock worth $23,529,000 after acquiring an additional 427,915 shares during the last quarter. Institutional investors own 91.86% of the company’s stock.

Wall Street Analysts Forecast Growth

FMC has been the subject of several analyst reports. KeyCorp raised their price objective on FMC from $49.00 to $53.00 and gave the company an “overweight” rating in a research note on Friday, May 2nd. Wells Fargo & Company dropped their target price on FMC from $43.00 to $41.00 and set an “equal weight” rating on the stock in a research note on Monday, April 21st. Wall Street Zen upgraded FMC from a “sell” rating to a “hold” rating in a research report on Saturday. UBS Group raised their price target on shares of FMC from $38.00 to $41.00 and gave the company a “neutral” rating in a research report on Thursday, May 1st. Finally, The Goldman Sachs Group initiated coverage on FMC in a report on Thursday, March 13th. They issued a “buy” rating and a $51.00 price objective on the stock. One analyst has rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $49.46.

FMC Stock Performance

Shares of FMC stock opened at $42.75 on Tuesday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.24 and a current ratio of 1.64. The firm has a market cap of $5.34 billion, a P/E ratio of 15.72, a P/E/G ratio of 1.90 and a beta of 0.76. The firm’s 50 day moving average price is $39.38 and its 200-day moving average price is $43.73. FMC Co. has a one year low of $32.83 and a one year high of $68.55.

FMC (NYSE:FMC) last posted its earnings results on Wednesday, April 30th. The basic materials company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.08 by $0.10. FMC had a return on equity of 9.67% and a net margin of 8.03%. The firm had revenue of $791.40 million for the quarter, compared to analyst estimates of $783.70 million. During the same quarter in the prior year, the company posted $0.36 earnings per share. FMC’s revenue for the quarter was down 13.8% compared to the same quarter last year. As a group, equities research analysts predict that FMC Co. will post 3.48 EPS for the current year.

FMC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 17th. Investors of record on Monday, June 30th will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 5.43%. The ex-dividend date is Monday, June 30th. FMC’s dividend payout ratio is presently 88.55%.

FMC Company Profile

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.