Oppenheimer & Co. Inc. purchased a new position in FMC Co. (NYSE:FMC – Get Rating) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 6,953 shares of the basic materials company’s stock, valued at approximately $915,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Rinkey Investments acquired a new stake in shares of FMC in the fourth quarter worth $25,000. West Oak Capital LLC acquired a new stake in shares of FMC in the first quarter worth $26,000. CENTRAL TRUST Co acquired a new stake in shares of FMC in the first quarter worth $34,000. Covestor Ltd acquired a new stake in shares of FMC in the fourth quarter worth $79,000. Finally, Riverview Trust Co increased its stake in shares of FMC by 40.6% in the first quarter. Riverview Trust Co now owns 606 shares of the basic materials company’s stock worth $80,000 after acquiring an additional 175 shares during the period. Hedge funds and other institutional investors own 87.42% of the company’s stock.
FMC Stock Down 0.4 %
Shares of NYSE FMC opened at $106.44 on Friday. The company’s 50-day simple moving average is $108.09 and its 200-day simple moving average is $118.21. FMC Co. has a 52-week low of $87.42 and a 52-week high of $140.99. The firm has a market cap of $13.41 billion, a price-to-earnings ratio of 19.57, a price-to-earnings-growth ratio of 1.52 and a beta of 0.84. The company has a quick ratio of 0.99, a current ratio of 1.38 and a debt-to-equity ratio of 0.87.
FMC Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 20th. Stockholders of record on Friday, September 30th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend is Thursday, September 29th. FMC’s dividend payout ratio is currently 38.97%.
Insider Transactions at FMC
In other news, insider Nicholas Pfeiffer sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, June 7th. The shares were sold at an average price of $119.78, for a total value of $119,780.00. Following the transaction, the insider now directly owns 11,722 shares of the company’s stock, valued at $1,404,061.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.57% of the company’s stock.
Analysts Set New Price Targets
A number of analysts have recently weighed in on the stock. Redburn Partners lowered shares of FMC from a “buy” rating to a “neutral” rating in a research note on Monday, June 13th. Bank of America upgraded shares of FMC from an “underperform” rating to a “buy” rating and set a $127.00 price target on the stock in a research report on Tuesday, June 21st. They noted that the move was a valuation call. UBS Group dropped their price target on shares of FMC from $149.00 to $140.00 and set a “buy” rating on the stock in a research report on Wednesday, July 13th. Credit Suisse Group dropped their price target on shares of FMC from $109.00 to $105.00 and set an “underperform” rating on the stock in a research report on Wednesday, August 3rd. Finally, Mizuho dropped their price target on shares of FMC from $149.00 to $144.00 and set a “buy” rating on the stock in a research report on Thursday, August 4th. One equities 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $132.64.
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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