abrdn plc Has $21.56 Million Position in FMC Co. (NYSE:FMC)

abrdn plc lifted its position in shares of FMC Co. (NYSE:FMC) by 5.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 341,968 shares of the basic materials company’s stock after acquiring an additional 18,335 shares during the period. abrdn plc owned approximately 0.27% of FMC worth $21,561,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. WP Advisors LLC acquired a new stake in shares of FMC in the 4th quarter valued at $312,000. Greenleaf Trust grew its position in FMC by 19.8% in the fourth quarter. Greenleaf Trust now owns 11,973 shares of the basic materials company’s stock valued at $755,000 after acquiring an additional 1,980 shares during the last quarter. Western Wealth Management LLC acquired a new position in FMC during the fourth quarter worth about $987,000. Daiwa Securities Group Inc. lifted its holdings in shares of FMC by 6.8% in the fourth quarter. Daiwa Securities Group Inc. now owns 11,053 shares of the basic materials company’s stock worth $697,000 after acquiring an additional 699 shares during the last quarter. Finally, SVB Wealth LLC acquired a new stake in shares of FMC in the 4th quarter valued at approximately $366,000. 91.86% of the stock is owned by institutional investors.

Insider Transactions at FMC

In related news, CFO Andrew D. Sandifer bought 2,150 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were bought at an average price of $59.22 per share, for a total transaction of $127,323.00. Following the transaction, the chief financial officer now directly owns 50,088 shares of the company’s stock, valued at $2,966,211.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on FMC shares. Bank of America downgraded shares of FMC from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $60.00 to $57.00 in a research note on Tuesday, January 16th. Royal Bank of Canada dropped their price target on FMC from $61.00 to $59.00 and set an “outperform” rating for the company in a research note on Thursday, February 8th. Roth Mkm began coverage on FMC in a research report on Thursday, January 4th. They set a “buy” rating and a $74.00 price objective on the stock. Mizuho dropped their target price on FMC from $59.00 to $55.00 and set a “neutral” rating for the company in a research report on Tuesday, February 6th. Finally, BMO Capital Markets cut their price target on FMC from $63.00 to $61.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 7th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $71.75.

FMC Trading Up 0.7 %

FMC opened at $58.65 on Wednesday. FMC Co. has a twelve month low of $49.49 and a twelve month high of $124.61. The company has a fifty day moving average of $59.06 and a 200-day moving average of $58.10. The stock has a market cap of $7.32 billion, a PE ratio of 5.57, a price-to-earnings-growth ratio of 1.86 and a beta of 0.87. The company has a quick ratio of 1.01, a current ratio of 1.52 and a debt-to-equity ratio of 0.68.

FMC (NYSE:FMC) last issued its quarterly earnings results on Tuesday, February 6th. The basic materials company reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.01). The business had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.25 billion. FMC had a return on equity of 12.98% and a net margin of 29.45%. During the same quarter in the previous year, the business posted $2.37 earnings per share. On average, sell-side analysts predict that FMC Co. will post 3.88 EPS for the current year.

FMC Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date was Wednesday, March 27th. FMC’s payout ratio is 22.03%.

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.