Wellington Management Group LLP decreased its holdings in shares of FMC Corp (NYSE:FMC) by 0.8% in the first quarter, HoldingsChannel reports. The fund owned 10,577,287 shares of the basic materials company’s stock after selling 89,919 shares during the quarter. Wellington Management Group LLP owned approximately 0.08% of FMC worth $864,058,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also modified their holdings of FMC. Liberty Wealth Management LLC bought a new stake in shares of FMC during the 1st quarter valued at $27,000. Americana Partners LLC purchased a new position in shares of FMC during the 4th quarter valued at $31,000. Filbrandt Wealth Management LLC purchased a new position in shares of FMC during the 4th quarter valued at $63,000. Procyon Private Wealth Partners LLC purchased a new position in shares of FMC during the 4th quarter valued at $64,000. Finally, FDx Advisors Inc. purchased a new position in shares of FMC during the 1st quarter valued at $65,000. 89.68% of the stock is owned by hedge funds and other institutional investors.
A number of research firms recently weighed in on FMC. ValuEngine cut shares of FMC from a “hold” rating to a “sell” rating in a research note on Tuesday, May 19th. Wells Fargo & Co lowered their target price on shares of FMC from $130.00 to $108.00 and set an “overweight” rating on the stock in a research note on Friday, April 3rd. Cfra lifted their target price on shares of FMC from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Wednesday, May 6th. KeyCorp lifted their target price on shares of FMC from $93.00 to $108.00 and gave the company an “overweight” rating in a research note on Thursday, May 7th. Finally, SunTrust Banks lowered their target price on shares of FMC from $125.00 to $106.00 and set a “buy” rating on the stock in a research note on Monday, April 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and sixteen have issued a buy rating to the company. FMC presently has an average rating of “Buy” and an average price target of $107.83.
Shares of FMC stock traded down $7.32 during trading hours on Thursday, reaching $95.50. The company’s stock had a trading volume of 40,968 shares, compared to its average volume of 1,012,299. The firm has a 50 day moving average price of $93.40 and a 200-day moving average price of $93.58. FMC Corp has a one year low of $56.77 and a one year high of $108.77. The company has a debt-to-equity ratio of 1.31, a current ratio of 1.82 and a quick ratio of 1.39. The stock has a market cap of $12.88 billion, a P/E ratio of 27.86, a P/E/G ratio of 1.54 and a beta of 1.27.
FMC (NYSE:FMC) last posted its earnings results on Tuesday, May 5th. The basic materials company reported $1.84 earnings per share for the quarter, topping analysts’ consensus estimates of $1.81 by $0.03. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.25 billion. FMC had a net margin of 10.02% and a return on equity of 30.32%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.72 EPS. As a group, sell-side analysts forecast that FMC Corp will post 6.31 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 16th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.44 per share. The ex-dividend date is Monday, June 29th. This represents a $1.76 annualized dividend and a yield of 1.84%. FMC’s payout ratio is 28.90%.
FMC Company Profile
FMC Corporation, a diversified chemical company, provides solutions, applications, and products for the agricultural, consumer, and industrial markets worldwide. The company operates in two segments, FMC Agricultural Solutions and FMC Lithium. The FMC Agricultural Solutions segment develops, manufactures, markets, and sells crop protection chemicals, including insecticides, herbicides, and fungicides that 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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