First Mercantile Trust Co. lowered its position in FMC Corp. (NYSE:FMC) by 8.0% during the second quarter, Holdings Channel reports. The fund owned 12,245 shares of the company’s stock after selling 1,059 shares during the period. First Mercantile Trust Co.’s holdings in FMC Corp. were worth $567,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board increased its stake in FMC Corp. by 78.1% in the first quarter. Canada Pension Plan Investment Board now owns 197,510 shares of the company’s stock worth $7,973,000 after buying an additional 86,600 shares during the last quarter. M&T Bank Corp purchased a new stake in FMC Corp. during the first quarter worth approximately $420,000. NN Investment Partners Holdings N.V. purchased a new stake in FMC Corp. during the first quarter worth approximately $963,000. Sentry Investment Management LLC increased its stake in FMC Corp. by 22.3% in the first quarter. Sentry Investment Management LLC now owns 9,629 shares of the company’s stock worth $389,000 after buying an additional 1,757 shares during the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its stake in FMC Corp. by 1.2% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,448,329 shares of the company’s stock worth $139,209,000 after buying an additional 41,138 shares during the last quarter. Institutional investors and hedge funds own 94.55% of the company’s stock.
FMC Corp. (NYSE:FMC) opened at 48.90 on Friday. The company’s market cap is $6.54 billion. FMC Corp. has a 12 month low of $32.24 and a 12 month high of $50.57. The stock’s 50 day moving average is $47.39 and its 200 day moving average is $45.50.
FMC Corp. (NYSE:FMC) last issued its earnings results on Tuesday, August 2nd. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.02. The company earned $810.30 million during the quarter, compared to analyst estimates of $889.70 million. FMC Corp. had a negative net margin of 2.79% and a positive return on equity of 16.35%. The company’s revenue for the quarter was down 8.7% on a year-over-year basis. During the same quarter last year, the business posted $0.70 EPS. Equities analysts predict that FMC Corp. will post $2.73 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 20th. Shareholders of record on Friday, September 30th will be paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.35%. The ex-dividend date is Wednesday, September 28th. FMC Corp.’s dividend payout ratio (DPR) is currently -94.29%.
A number of analysts recently weighed in on FMC shares. Susquehanna upped their price target on shares of FMC Corp. from $46.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday, August 26th. Credit Suisse Group AG reaffirmed a “hold” rating on shares of FMC Corp. in a research report on Monday, June 27th. Nomura reaffirmed a “hold” rating on shares of FMC Corp. in a research report on Tuesday, July 12th. KeyCorp reaffirmed a “buy” rating on shares of FMC Corp. in a research report on Wednesday, June 29th. Finally, Citigroup Inc. upped their price target on shares of FMC Corp. from $48.00 to $51.00 and gave the stock a “neutral” rating in a research report on Friday, July 15th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. FMC Corp. has an average rating of “Hold” and a consensus target price of $44.43.
About FMC Corp.
FMC Corporation is a diversified chemical company serving agricultural, consumer and industrial markets. The Company operates through three business segments: FMC Agricultural Solutions, FMC Health and Nutrition, and FMC Lithium. The Company’s FMC Agricultural Solutions segment develops, markets and sells over three classes of crop protection chemicals, including insecticides, herbicides and fungicides.
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