First Trust Advisors LP decreased its position in shares of FMC Corp (NYSE:FMC) by 44.4% in the 2nd quarter, HoldingsChannel reports. The fund owned 86,751 shares of the basic materials company’s stock after selling 69,389 shares during the period. First Trust Advisors LP’s holdings in FMC were worth $8,642,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Liberty Wealth Management LLC bought a new stake in FMC during the first quarter worth $27,000. Valeo Financial Advisors LLC grew its holdings in FMC by 60.7% during the first quarter. Valeo Financial Advisors LLC now owns 905 shares of the basic materials company’s stock worth $81,000 after buying an additional 342 shares in the last quarter. San Francisco Sentry Investment Group CA grew its holdings in FMC by 112.3% during the second quarter. San Francisco Sentry Investment Group CA now owns 981 shares of the basic materials company’s stock worth $98,000 after buying an additional 519 shares in the last quarter. Federated Hermes Inc. grew its holdings in FMC by 142.6% during the first quarter. Federated Hermes Inc. now owns 1,099 shares of the basic materials company’s stock worth $90,000 after buying an additional 646 shares in the last quarter. Finally, WASHINGTON TRUST Co bought a new stake in FMC during the first quarter worth $122,000. Hedge funds and other institutional investors own 89.75% of the company’s stock.
Several research analysts have weighed in on the company. TheStreet raised FMC from a “c+” rating to a “b” rating in a research report on Tuesday, May 5th. KeyCorp boosted their price objective on FMC from $108.00 to $119.00 and gave the stock an “overweight” rating in a research report on Monday, July 13th. Zacks Investment Research raised FMC from a “hold” rating to a “buy” rating and set a $106.00 price objective on the stock in a research report on Wednesday, June 3rd. Morgan Stanley boosted their price objective on FMC from $90.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 2nd. Finally, Citigroup boosted their price objective on FMC from $107.00 to $114.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and fifteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $109.50.
FMC (NYSE:FMC) last issued its quarterly earnings data on Tuesday, May 5th. The basic materials company reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.81 by $0.03. The business had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.25 billion. FMC had a return on equity of 30.32% and a net margin of 10.02%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.72 EPS. On average, research analysts forecast that FMC Corp will post 6.3 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $1.76 dividend on an annualized basis and a yield of 1.66%. FMC’s dividend payout ratio (DPR) is 28.90%.
FMC Corporation, a diversified chemical company, provides solutions, applications, and products for the agricultural, consumer, and industrial markets worldwide. The company operates in two segments, FMC Agricultural Solutions and FMC Lithium. The FMC Agricultural Solutions segment develops, manufactures, markets, and sells crop protection chemicals, including insecticides, herbicides, and fungicides that 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.
Read More: What is a recession?
Want to see what other hedge funds are holding FMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FMC Corp (NYSE:FMC).
Receive News & Ratings for FMC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FMC and related companies with MarketBeat.com's FREE daily email newsletter.