National Bank of Canada FI grew its stake in shares of FMC Co. (NYSE:FMC – Get Rating) by 1,360.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,958 shares of the basic materials company’s stock after acquiring an additional 5,550 shares during the quarter. National Bank of Canada FI’s holdings in FMC were worth $828,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of the stock. New York State Common Retirement Fund boosted its position in FMC by 48.5% in the first quarter. New York State Common Retirement Fund now owns 289,243 shares of the basic materials company’s stock valued at $38,056,000 after buying an additional 94,434 shares during the last quarter. Financial Architects Inc purchased a new stake in FMC in the first quarter valued at approximately $338,000. Osborne Partners Capital Management LLC boosted its position in FMC by 1.1% in the first quarter. Osborne Partners Capital Management LLC now owns 81,634 shares of the basic materials company’s stock valued at $10,741,000 after buying an additional 893 shares during the last quarter. State of Michigan Retirement System boosted its position in FMC by 0.3% in the first quarter. State of Michigan Retirement System now owns 31,958 shares of the basic materials company’s stock valued at $4,205,000 after buying an additional 91 shares during the last quarter. Finally, Autumn Glory Partners LLC purchased a new stake in FMC in the first quarter valued at approximately $256,000. Institutional investors and hedge funds own 88.44% of the company’s stock.
Insider Activity at FMC
In related news, insider Nicholas Pfeiffer sold 1,000 shares of the stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $119.78, for a total value of $119,780.00. Following the completion of the transaction, the insider now directly owns 11,722 shares of the company’s stock, valued at approximately $1,404,061.16. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.57% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on FMC shares. Bank of America upgraded FMC from an “underperform” rating to a “buy” rating and set a $127.00 target price on the stock in a research report on Tuesday, June 21st. They noted that the move was a valuation call. Redburn Partners lowered FMC from a “buy” rating to a “neutral” rating in a research report on Monday, June 13th. StockNews.com lowered FMC from a “buy” rating to a “hold” rating in a research report on Wednesday, August 3rd. Wells Fargo & Company lowered their price objective on FMC from $150.00 to $144.00 in a research report on Wednesday, May 4th. Finally, Loop Capital lowered FMC from a “buy” rating to a “hold” rating and set a $140.00 price objective on the stock. in a research report on Thursday, April 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $132.64.
FMC Trading Up 1.6%
Shares of FMC stock opened at $108.03 on Tuesday. The stock has a 50-day simple moving average of $108.63 and a 200-day simple moving average of $118.28. FMC Co. has a 1-year low of $87.27 and a 1-year high of $140.99. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.38 and a quick ratio of 0.99. The company has a market cap of $13.61 billion, a price-to-earnings ratio of 19.86, a PEG ratio of 1.42 and a beta of 0.84.
FMC (NYSE:FMC – Get Rating) last posted its quarterly earnings data on Tuesday, August 2nd. The basic materials company reported $1.93 EPS for the quarter, beating the consensus estimate of $1.89 by $0.04. FMC had a return on equity of 30.64% and a net margin of 12.80%. During the same period in the prior year, the company posted $1.81 earnings per share. On average, equities research analysts expect that FMC Co. will post 7.47 EPS for the current fiscal year.
FMC Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 20th. Investors of record on Friday, September 30th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 1.96%. The ex-dividend date is Thursday, September 29th. FMC’s dividend payout ratio is currently 38.97%.
About FMC
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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 include 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.
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