FMC Co. (NYSE:FMC) Shares Sold by Sciencast Management LP

Sciencast Management LP reduced its holdings in shares of FMC Co. (NYSE:FMC) by 40.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,312 shares of the basic materials company’s stock after selling 8,943 shares during the quarter. Sciencast Management LP’s holdings in FMC were worth $848,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. Riverview Trust Co acquired a new stake in shares of FMC during the first quarter worth about $27,000. CVA Family Office LLC acquired a new position in FMC during the fourth quarter worth approximately $31,000. Financial Connections Group Inc. purchased a new stake in FMC in the fourth quarter valued at approximately $31,000. Benjamin F. Edwards & Company Inc. boosted its holdings in shares of FMC by 114.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 568 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 303 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in shares of FMC by 827.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 686 shares of the basic materials company’s stock worth $43,000 after acquiring an additional 612 shares during the last quarter. Hedge funds and other institutional investors own 91.86% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. JPMorgan Chase & Co. reduced their price target on shares of FMC from $53.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, May 13th. UBS Group upgraded shares of FMC from a “neutral” rating to a “buy” rating and increased their target price for the stock from $61.00 to $84.00 in a research note on Wednesday, March 20th. Wells Fargo & Company raised their price target on FMC from $65.00 to $68.00 and gave the stock an “equal weight” rating in a report on Wednesday, May 8th. Barclays began coverage on FMC in a research note on Wednesday, June 26th. They set an “equal weight” rating and a $62.00 price objective for the company. Finally, Mizuho lifted their target price on FMC from $55.00 to $57.00 and gave the company a “neutral” rating in a research note on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $70.06.

FMC Price Performance

Shares of FMC stock traded up $0.71 during midday trading on Friday, reaching $57.41. 1,069,513 shares of the company traded hands, compared to its average volume of 1,969,879. The firm has a market cap of $7.17 billion, a PE ratio of 6.41, a price-to-earnings-growth ratio of 1.14 and a beta of 0.84. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.46 and a quick ratio of 1.02. The firm’s 50 day simple moving average is $59.25 and its two-hundred day simple moving average is $58.98. FMC Co. has a 1-year low of $49.49 and a 1-year high of $97.45.

FMC (NYSE:FMC) last posted its earnings results on Monday, May 6th. The basic materials company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. FMC had a return on equity of 7.68% and a net margin of 27.65%. The company had revenue of $918.00 million for the quarter, compared to the consensus estimate of $1.01 billion. FMC’s quarterly revenue was down 31.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.77 earnings per share. On average, equities research analysts expect that FMC Co. will post 3.6 EPS for the current fiscal year.

FMC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Friday, June 28th will be given a $0.58 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.32 annualized dividend and a dividend yield of 4.04%. FMC’s dividend payout ratio is presently 25.89%.

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.