Kanawha Capital Management LLC lowered its stake in shares of FMC Corp. (NYSE:FMC) by 4.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,775 shares of the company’s stock after selling 900 shares during the period. Kanawha Capital Management LLC’s holdings in FMC Corp. were worth $962,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in FMC. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of FMC Corp. by 6.1% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 368,284 shares of the company’s stock valued at $17,055,000 after buying an additional 21,328 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its position in shares of FMC Corp. by 1.8% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 10,161 shares of the company’s stock valued at $470,000 after buying an additional 176 shares during the last quarter. Quantitative Systematic Strategies LLC acquired a new position in shares of FMC Corp. during the second quarter valued at approximately $226,000. ING Groep NV acquired a new position in shares of FMC Corp. during the second quarter valued at approximately $219,000. Finally, Bartlett & Co. LLC acquired a new position in shares of FMC Corp. during the second quarter valued at approximately $424,000. 94.50% of the stock is owned by institutional investors and hedge funds.
Shares of FMC Corp. (NYSE:FMC) traded up 1.79% on Tuesday, reaching $47.24. The company had a trading volume of 653,667 shares. FMC Corp. has a 1-year low of $32.24 and a 1-year high of $50.57. The company’s 50 day moving average price is $47.35 and its 200-day moving average price is $46.42. The stock’s market capitalization is $6.32 billion.
FMC Corp. (NYSE:FMC) last announced its earnings results on Tuesday, August 2nd. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.02. FMC Corp. had a negative net margin of 2.79% and a positive return on equity of 16.35%. The business earned $810.30 million during the quarter, compared to analysts’ expectations of $889.70 million. During the same period in the prior year, the company earned $0.70 earnings per share. The business’s revenue was down 8.7% compared to the same quarter last year. Equities analysts predict that FMC Corp. will post $2.73 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 20th. Stockholders of record on Friday, September 30th will be issued a $0.165 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.42%. FMC Corp.’s payout ratio is -94.29%.
A number of equities research analysts recently commented on the company. Jefferies Group reiterated a “buy” rating and issued a $58.00 target price on shares of FMC Corp. in a research report on Thursday, September 29th. Susquehanna boosted their target price on FMC Corp. from $46.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday, August 26th. Zacks Investment Research downgraded FMC Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, August 9th. Credit Suisse Group AG reiterated a “hold” rating and issued a $44.00 target price on shares of FMC Corp. in a research report on Wednesday, August 3rd. Finally, Citigroup Inc. boosted their target price on FMC Corp. from $48.00 to $51.00 and gave the stock a “neutral” rating in a research report on Friday, July 15th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the stock. FMC Corp. presently has an average rating of “Hold” and an average target price of $44.17.
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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