Swiss National Bank Reduces Stock Position in FMC Co. (NYSE:FMC)

Swiss National Bank lessened its stake in FMC Co. (NYSE:FMC) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 389,700 shares of the basic materials company’s stock after selling 11,500 shares during the period. Swiss National Bank owned approximately 0.31% of FMC worth $24,571,000 at the end of the most recent quarter.

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

Insider Transactions at FMC

In related news, CFO Andrew D. Sandifer purchased 2,150 shares of FMC stock in a transaction that occurred on Monday, March 4th. The shares were bought at an average price of $59.22 per share, with a total value of $127,323.00. Following the purchase, the chief financial officer now directly owns 50,088 shares of the company’s stock, valued at approximately $2,966,211.36. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.81% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Wolfe Research started coverage on shares of FMC in a research note on Friday, March 1st. They set a “peer perform” rating on the stock. Mizuho boosted their price target on FMC from $55.00 to $57.00 and gave the company a “neutral” rating in a report on Tuesday. Royal Bank of Canada decreased their price objective on FMC from $61.00 to $59.00 and set an “outperform” rating on the stock in a research note on Thursday, February 8th. Bank of America lowered shares of FMC from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $60.00 to $57.00 in a report on Tuesday, January 16th. Finally, KeyCorp lifted their price target on shares of FMC from $79.00 to $81.00 and gave the company an “overweight” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $71.69.

FMC Stock Down 2.9 %

NYSE FMC opened at $64.83 on Thursday. FMC Co. has a 52 week low of $49.49 and a 52 week high of $112.10. The firm has a market capitalization of $8.09 billion, a price-to-earnings ratio of 6.16, a PEG ratio of 1.99 and a beta of 0.88. The company has a quick ratio of 1.01, a current ratio of 1.52 and a debt-to-equity ratio of 0.68. The company has a fifty day moving average of $60.99 and a two-hundred day moving average of $57.84.

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

FMC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Friday, June 28th will be given a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 3.58%. The ex-dividend date is Friday, June 28th. FMC’s dividend payout ratio (DPR) is presently 22.03%.

FMC Company Profile

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.