New York Life Investment Management LLC Cuts Holdings in FMC Co. (NYSE:FMC)

New York Life Investment Management LLC trimmed its position in shares of FMC Co. (NYSE:FMC) by 13.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,733 shares of the basic materials company’s stock after selling 2,850 shares during the period. New York Life Investment Management LLC’s holdings in FMC were worth $1,118,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in FMC. CVA Family Office LLC purchased a new position in shares of FMC in the 4th quarter valued at about $31,000. Financial Connections Group Inc. purchased a new stake in shares of FMC during the 4th quarter worth approximately $31,000. Quintet Private Bank Europe S.A. acquired a new position in shares of FMC in the 3rd quarter valued at $33,000. Spire Wealth Management grew its position in shares of FMC by 143.1% in the 3rd quarter. Spire Wealth Management now owns 508 shares of the basic materials company’s stock valued at $34,000 after buying an additional 299 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its stake in FMC by 50.0% in the third quarter. Parkside Financial Bank & Trust now owns 684 shares of the basic materials company’s stock valued at $46,000 after acquiring an additional 228 shares in the last quarter. Hedge funds and other institutional investors own 91.86% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Loop Capital boosted their target price on FMC from $55.00 to $65.00 and gave the company a “hold” rating in a report on Tuesday, March 19th. Royal Bank of Canada reduced their price target on shares of FMC from $61.00 to $59.00 and set an “outperform” rating for the company in a research report on Thursday, February 8th. Bank of America lowered shares of FMC from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $60.00 to $57.00 in a research note on Tuesday, January 16th. Wolfe Research initiated coverage on FMC in a report on Friday, March 1st. They set a “peer perform” rating on the stock. Finally, BNP Paribas cut FMC from an “outperform” rating to a “neutral” rating and set a $56.00 price objective for the company. in a research report on Wednesday, February 7th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, FMC presently has a consensus rating of “Hold” and an average target price of $71.88.

FMC Stock Performance

Shares of FMC opened at $66.78 on Wednesday. The company has a 50-day moving average of $60.43 and a two-hundred day moving average of $57.79. The stock has a market cap of $8.34 billion, a P/E ratio of 6.34, a PEG ratio of 1.99 and a beta of 0.88. FMC Co. has a 12-month low of $49.49 and a 12-month high of $114.66. The company has a current ratio of 1.52, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68.

FMC (NYSE:FMC) last posted its earnings results on Monday, May 6th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. The firm had revenue of $918.00 million for the quarter, compared to analyst estimates of $1.01 billion. FMC had a return on equity of 12.98% and a net margin of 29.45%. FMC’s revenue was down 31.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.77 EPS. As a group, research analysts predict that FMC Co. will post 3.88 EPS for the current fiscal year.

FMC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Friday, June 28th will be issued a $0.58 dividend. The ex-dividend date is Friday, June 28th. This represents a $2.32 dividend on an annualized basis and a yield of 3.47%. FMC’s dividend payout ratio (DPR) is 22.03%.

Insiders Place Their Bets

In other news, CFO Andrew D. Sandifer acquired 2,150 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was acquired at an average price of $59.22 per share, with a total value of $127,323.00. Following the completion of the transaction, the chief financial officer now directly owns 50,088 shares in the company, valued at approximately $2,966,211.36. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.81% of the stock is owned by corporate insiders.

About FMC

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 includes 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.