Highland Capital Management LLC Cuts Stake in FMC Co. (NYSE:FMC)

Highland Capital Management LLC lessened its holdings in shares of FMC Co. (NYSE:FMCGet Rating) by 0.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,640 shares of the basic materials company’s stock after selling 130 shares during the period. Highland Capital Management LLC’s holdings in FMC were worth $2,102,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in FMC. West Oak Capital LLC acquired a new stake in shares of FMC in the 1st quarter valued at $26,000. Rinkey Investments purchased a new position in FMC during the 4th quarter worth $25,000. CENTRAL TRUST Co purchased a new position in FMC during the 1st quarter worth $34,000. Parkside Financial Bank & Trust lifted its stake in shares of FMC by 99.4% in the 1st quarter. Parkside Financial Bank & Trust now owns 351 shares of the basic materials company’s stock worth $47,000 after acquiring an additional 175 shares during the period. Finally, High Net Worth Advisory Group LLC acquired a new stake in shares of FMC in the 1st quarter worth $60,000. Hedge funds and other institutional investors own 87.42% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FMC. UBS Group cut their target price on shares of FMC from $149.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, July 13th. Mizuho decreased their price objective on shares of FMC from $149.00 to $144.00 and set a “buy” rating for the company in a research note on Thursday, August 4th. Bank of America raised shares of 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 shares of FMC from a “buy” rating to a “neutral” rating in a research note on Monday, June 13th. Finally, StockNews.com upgraded shares of FMC from a “hold” rating to a “buy” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, FMC has an average rating of “Moderate Buy” and an average target price of $132.64.

FMC Trading Up 1.4 %

NYSE:FMC opened at $107.18 on Friday. FMC Co. has a fifty-two week low of $87.42 and a fifty-two week 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 stock has a market capitalization of $13.50 billion, a PE ratio of 19.70, a price-to-earnings-growth ratio of 1.42 and a beta of 0.84. The business’s 50-day simple moving average is $108.92 and its 200-day simple moving average is $117.22.

FMC (NYSE:FMCGet Rating) last released its quarterly earnings data on Tuesday, August 2nd. The basic materials company reported $1.93 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.03. The business had revenue of $1.45 billion for the quarter, compared to analysts’ expectations of $1.35 billion. FMC had a return on equity of 30.64% and a net margin of 12.80%. During the same quarter in the previous year, the business posted $1.81 EPS. Sell-side analysts expect that FMC Co. will post 7.46 earnings per share for the current fiscal year.

FMC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 20th. Shareholders of record on Friday, September 30th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 1.98%. The ex-dividend date is Thursday, September 29th. FMC’s payout ratio is 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.

See Also

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Institutional Ownership by Quarter for FMC (NYSE:FMC)

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