Ieq Capital LLC Reduces Holdings in FMC Co. (NYSE:FMC)

Ieq Capital LLC reduced its stake in shares of FMC Co. (NYSE:FMC) by 37.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,469 shares of the basic materials company’s stock after selling 3,328 shares during the quarter. Ieq Capital LLC’s holdings in FMC were worth $345,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Keybank National Association OH increased its holdings in shares of FMC by 4.3% in the 3rd quarter. Keybank National Association OH now owns 5,088 shares of the basic materials company’s stock valued at $341,000 after acquiring an additional 208 shares during the period. Treasurer of the State of North Carolina increased its holdings in shares of FMC by 0.4% in the third quarter. Treasurer of the State of North Carolina now owns 56,427 shares of the basic materials company’s stock valued at $3,779,000 after purchasing an additional 210 shares during the period. Parkside Financial Bank & Trust raised its stake in shares of FMC by 50.0% during the third quarter. Parkside Financial Bank & Trust now owns 684 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 228 shares during the last quarter. WealthPLAN Partners LLC raised its stake in shares of FMC by 2.5% during the fourth quarter. WealthPLAN Partners LLC now owns 11,917 shares of the basic materials company’s stock worth $751,000 after purchasing an additional 285 shares during the last quarter. Finally, Covestor Ltd lifted its holdings in shares of FMC by 42.0% during the third quarter. Covestor Ltd now owns 984 shares of the basic materials company’s stock worth $66,000 after purchasing an additional 291 shares during the period. 91.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on FMC shares. StockNews.com raised shares of FMC from a “sell” rating to a “hold” rating in a research note on Wednesday, May 8th. Wolfe Research initiated coverage on shares of FMC in a report on Friday, March 1st. They set a “peer perform” rating for the company. Mizuho raised their price objective on shares of FMC from $55.00 to $57.00 and gave the company a “neutral” rating in a research report on Tuesday, May 7th. BNP Paribas downgraded FMC from an “outperform” rating to a “neutral” rating and set a $56.00 target price for the company. in a research note on Wednesday, February 7th. Finally, Loop Capital raised their price target on FMC from $55.00 to $65.00 and gave the company a “hold” rating in a report on Tuesday, March 19th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $70.56.

FMC Stock Performance

NYSE FMC opened at $63.98 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.46 and a debt-to-equity ratio of 0.70. FMC Co. has a fifty-two week low of $49.49 and a fifty-two week high of $111.95. The business has a fifty day moving average of $61.78 and a 200-day moving average of $58.25. The stock has a market cap of $7.99 billion, a price-to-earnings ratio of 7.14, a price-to-earnings-growth ratio of 2.13 and a beta of 0.88.

FMC (NYSE:FMC) last released its earnings results on Monday, May 6th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. The company had revenue of $918.00 million for the quarter, compared to analyst estimates of $1.01 billion. FMC had a net margin of 27.65% and a return on equity of 7.68%. The firm’s quarterly revenue was down 31.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.77 EPS. As a group, analysts predict that FMC Co. will post 3.76 earnings per share for the current fiscal year.

FMC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Friday, June 28th will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date of this dividend is Friday, June 28th. FMC’s payout ratio is 25.89%.

Insider Activity

In related news, CFO Andrew D. Sandifer purchased 2,150 shares of the business’s stock in a transaction on Monday, March 4th. The shares were bought at an average price of $59.22 per share, with a total value of $127,323.00. Following the completion of the purchase, the chief financial officer now directly owns 50,088 shares in the company, valued at approximately $2,966,211.36. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.85% of the company’s stock.

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.