FMC Corporation (NYSE:FMC) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its stake in shares of FMC Corporation (NYSE:FMC) by 29.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,469,019 shares of the basic materials company’s stock after selling 619,216 shares during the period. Bank of New York Mellon Corp’s holdings in FMC were worth $61,978,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC boosted its position in shares of FMC by 217.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 746 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 511 shares during the last quarter. Resona Asset Management Co. Ltd. purchased a new position in FMC during the fourth quarter worth about $37,000. Golden State Wealth Management LLC boosted its holdings in FMC by 66.6% in the 1st quarter. Golden State Wealth Management LLC now owns 1,006 shares of the basic materials company’s stock valued at $42,000 after purchasing an additional 402 shares during the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of FMC in the 1st quarter valued at approximately $55,000. Finally, Canada Post Corp Registered Pension Plan acquired a new stake in shares of FMC during the 4th quarter worth approximately $62,000. Institutional investors and hedge funds own 91.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on FMC shares. Wall Street Zen upgraded FMC from a “sell” rating to a “hold” rating in a research report on Saturday, June 14th. Wells Fargo & Company raised FMC from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $41.00 to $50.00 in a research note on Monday, June 23rd. UBS Group raised their price objective on FMC from $41.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday. Royal Bank Of Canada boosted their price objective on shares of FMC from $40.00 to $47.00 and gave the company a “sector perform” rating in a report on Thursday. Finally, Mizuho raised shares of FMC from a “neutral” rating to an “outperform” rating and set a $49.00 target price for the company in a research note on Friday, April 25th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $50.54.

FMC Stock Down 0.6%

Shares of NYSE:FMC opened at $42.42 on Friday. The firm has a market capitalization of $5.30 billion, a PE ratio of 16.19, a price-to-earnings-growth ratio of 1.29 and a beta of 0.77. FMC Corporation has a 1 year low of $32.83 and a 1 year high of $68.55. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.54 and a quick ratio of 1.12. The firm’s 50-day moving average is $40.91 and its two-hundred day moving average is $42.37.

FMC (NYSE:FMC) last announced its earnings results on Wednesday, April 30th. The basic materials company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.10. The firm had revenue of $791.40 million for the quarter, compared to the consensus estimate of $783.70 million. FMC had a net margin of 7.97% and a return on equity of 9.12%. The firm’s revenue for the quarter was down 13.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.36 EPS. 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. Stockholders of record on Monday, June 30th will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 5.47%. The ex-dividend date of this dividend is Monday, June 30th. FMC’s dividend payout ratio is currently 88.55%.

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.