GAMMA Investing LLC Buys 2,269 Shares of FMC Corporation (NYSE:FMC)

GAMMA Investing LLC boosted its stake in FMC Corporation (NYSE:FMC) by 114.8% during the 1st quarter, HoldingsChannel.com reports. The fund owned 4,245 shares of the basic materials company’s stock after acquiring an additional 2,269 shares during the period. GAMMA Investing LLC’s holdings in FMC were worth $179,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. IFP Advisors Inc increased its position in shares of FMC by 65.3% during the fourth quarter. IFP Advisors Inc now owns 959 shares of the basic materials company’s stock worth $47,000 after buying an additional 379 shares during the period. Proficio Capital Partners LLC bought a new stake in FMC during the fourth quarter valued at $1,505,000. Charles Schwab Investment Management Inc. grew its holdings in FMC by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,164,403 shares of the basic materials company’s stock worth $56,602,000 after acquiring an additional 28,059 shares during the period. Arizona State Retirement System raised its position in shares of FMC by 0.8% in the 4th quarter. Arizona State Retirement System now owns 36,226 shares of the basic materials company’s stock worth $1,761,000 after acquiring an additional 285 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in FMC in the fourth quarter worth approximately $5,573,000. Institutional investors and hedge funds own 91.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on FMC shares. Mizuho upgraded FMC from a “neutral” rating to an “outperform” rating and set a $49.00 price target on the stock in a report on Friday, April 25th. The Goldman Sachs Group initiated coverage on shares of FMC in a research note on Thursday, March 13th. They set a “buy” rating and a $51.00 target price on the stock. Wall Street Zen upgraded FMC from a “sell” rating to a “hold” rating in a research note on Saturday, June 14th. Wells Fargo & Company raised FMC from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $41.00 to $50.00 in a research report on Monday, June 23rd. Finally, KeyCorp increased their target price on FMC from $49.00 to $53.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $50.15.

FMC Trading Down 0.6%

FMC stock opened at $44.20 on Friday. The business has a 50-day simple moving average of $40.63 and a two-hundred day simple moving average of $42.59. FMC Corporation has a 52-week low of $32.83 and a 52-week high of $68.55. The company has a quick ratio of 1.12, a current ratio of 1.54 and a debt-to-equity ratio of 0.69. The company has a market cap of $5.52 billion, a P/E ratio of 16.87, a P/E/G ratio of 1.33 and a beta of 0.77.

FMC (NYSE:FMC) last released its earnings results on Wednesday, April 30th. The basic materials company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.10. FMC had a return on equity of 9.12% and a net margin of 7.97%. The company had revenue of $791.40 million for the quarter, compared to the consensus estimate of $783.70 million. During the same period in the previous year, the business earned $0.36 earnings per share. FMC’s quarterly revenue was down 13.8% compared to the same quarter last year. Analysts predict that FMC Corporation will post 3.48 EPS for the current year.

FMC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 17th. Investors of record on Monday, June 30th will be paid a dividend of $0.58 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 5.25%. FMC’s dividend payout ratio (DPR) is presently 88.55%.

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.