FMC Co. (NYSE:FMC) Shares Purchased by Synovus Financial Corp

Synovus Financial Corp grew its position in shares of FMC Co. (NYSE:FMC) by 82.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,892 shares of the basic materials company’s stock after purchasing an additional 22,612 shares during the period. Synovus Financial Corp’s holdings in FMC were worth $3,290,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Millburn Ridgefield Corp lifted its stake in FMC by 186.2% during the 3rd quarter. Millburn Ridgefield Corp now owns 498 shares of the basic materials company’s stock worth $33,000 after acquiring an additional 324 shares in the last quarter. First Horizon Advisors Inc. increased its stake in FMC by 90.8% during the third quarter. First Horizon Advisors Inc. now owns 517 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 246 shares during the period. Mather Group LLC. lifted its position in shares of FMC by 250.6% during the third quarter. Mather Group LLC. now owns 554 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 396 shares in the last quarter. UMB Bank n.a. boosted its stake in shares of FMC by 56.9% in the second quarter. UMB Bank n.a. now owns 678 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 246 shares during the period. Finally, Peterson Financial Group Inc. acquired a new position in shares of FMC in the third quarter valued at approximately $51,000. 91.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on FMC. Royal Bank of Canada increased their target price on shares of FMC from $78.00 to $81.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Mizuho increased their price objective on FMC from $64.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Finally, Citigroup initiated coverage on FMC in a report on Wednesday, October 23rd. They issued a “neutral” rating and a $67.00 target price for the company. One analyst has rated the stock with a sell rating, ten have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $68.00.

Insider Transactions at FMC

In related news, VP Jacqueline Scanlan sold 4,529 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $59.67, for a total transaction of $270,245.43. Following the transaction, the vice president now owns 28,649 shares in the company, valued at $1,709,485.83. This trade represents a 13.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.85% of the company’s stock.

FMC Price Performance

FMC stock opened at $53.50 on Friday. The business has a 50 day moving average price of $59.83 and a 200 day moving average price of $60.17. The company has a quick ratio of 1.09, a current ratio of 1.48 and a debt-to-equity ratio of 0.65. The stock has a market cap of $6.68 billion, a price-to-earnings ratio of 4.60, a PEG ratio of 1.48 and a beta of 0.80. FMC Co. has a fifty-two week low of $50.03 and a fifty-two week high of $68.72.

FMC (NYSE:FMC) last issued its quarterly earnings data on Tuesday, October 29th. The basic materials company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.20. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.04 billion. FMC had a net margin of 34.93% and a return on equity of 7.68%. The company’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.44 EPS. Equities research analysts anticipate that FMC Co. will post 3.35 earnings per share for the current fiscal year.

FMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 4.34%. The ex-dividend date is Tuesday, December 31st. FMC’s payout ratio is 19.97%.

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.