Nationwide Fund Advisors lowered its stake in FMC Corporation (NYSE:FMC) by 1.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 249,071 shares of the basic materials company’s stock after selling 2,721 shares during the period. Nationwide Fund Advisors owned about 0.19% of FMC Corporation worth $18,195,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of FMC. UBS Asset Management Americas Inc. raised its position in FMC Corporation by 8.7% in the 1st quarter. UBS Asset Management Americas Inc. now owns 340,055 shares of the basic materials company’s stock valued at $23,664,000 after purchasing an additional 27,137 shares in the last quarter. Gabelli Funds LLC raised its position in FMC Corporation by 30.8% in the 1st quarter. Gabelli Funds LLC now owns 34,000 shares of the basic materials company’s stock valued at $2,366,000 after purchasing an additional 8,000 shares in the last quarter. Karp Capital Management Corp acquired a new stake in FMC Corporation in the 1st quarter valued at about $3,051,000. Sei Investments Co. raised its position in FMC Corporation by 7.9% in the 1st quarter. Sei Investments Co. now owns 73,537 shares of the basic materials company’s stock valued at $5,118,000 after purchasing an additional 5,365 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in FMC Corporation by 3.6% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 9,917 shares of the basic materials company’s stock valued at $690,000 after purchasing an additional 345 shares in the last quarter. 90.35% of the stock is currently owned by institutional investors.
FMC Corporation (NYSE:FMC) opened at 92.14 on Wednesday. The company’s 50-day moving average price is $85.49 and its 200-day moving average price is $75.38. FMC Corporation has a 1-year low of $45.77 and a 1-year high of $92.40. The stock has a market cap of $12.36 billion, a P/E ratio of 273.41 and a beta of 1.60.
FMC Corporation (NYSE:FMC) last released its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $0.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.01. FMC Corporation had a return on equity of 16.51% and a net margin of 1.58%. The business had revenue of $656.80 million for the quarter, compared to analysts’ expectations of $614.01 million. During the same quarter in the previous year, the firm posted $0.46 earnings per share. The company’s revenue was up 6.7% compared to the same quarter last year. Analysts predict that FMC Corporation will post $2.44 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 19th. Investors of record on Friday, September 29th will be paid a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 0.72%. The ex-dividend date is Thursday, September 28th. FMC Corporation’s dividend payout ratio (DPR) is 188.58%.
A number of equities research analysts have issued reports on the company. Robert W. Baird reaffirmed a “hold” rating and issued a $86.00 price target on shares of FMC Corporation in a research report on Tuesday, September 12th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $100.00 price target on shares of FMC Corporation in a research report on Friday, September 15th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $85.00 price target on shares of FMC Corporation in a research report on Tuesday, September 5th. Susquehanna Bancshares Inc increased their price target on FMC Corporation from $86.00 to $100.00 and gave the company a “positive” rating in a research report on Tuesday, August 8th. Finally, Bank of America Corporation raised FMC Corporation from an “underperform” rating to a “buy” rating and increased their price target for the company from $66.00 to $103.00 in a research report on Thursday, August 31st. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $85.04.
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In other FMC Corporation news, VP Andrea E. Utecht sold 14,174 shares of the company’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $84.00, for a total transaction of $1,190,616.00. Following the sale, the vice president now owns 131,639 shares in the company, valued at $11,057,676. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 1.10% of the company’s stock.
FMC Corporation Profile
FMC Corporation is a diversified chemical company serving agricultural, consumer and industrial markets. The Company operates in three business segments: FMC Agricultural Solutions, FMC Health and Nutrition, and FMC Lithium. As of December 31, 2016, the FMC Agricultural Solutions segment developed, marketed and sold three classes of crop protection chemicals: insecticides, herbicides and fungicides.
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