Mitsubishi UFJ Asset Management Co. Ltd. Cuts Stock Holdings in FMC Corporation (NYSE:FMC)

Mitsubishi UFJ Asset Management Co. Ltd. trimmed its position in shares of FMC Corporation (NYSE:FMC) by 95.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,123 shares of the basic materials company’s stock after selling 87,519 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in FMC were worth $174,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Janus Henderson Group PLC boosted its holdings in FMC by 0.5% during the 4th quarter. Janus Henderson Group PLC now owns 59,771 shares of the basic materials company’s stock worth $2,905,000 after acquiring an additional 286 shares during the last quarter. Algert Global LLC boosted its holdings in FMC by 0.5% during the 4th quarter. Algert Global LLC now owns 59,052 shares of the basic materials company’s stock worth $2,871,000 after acquiring an additional 300 shares during the last quarter. Treasurer of the State of North Carolina boosted its holdings in FMC by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 54,754 shares of the basic materials company’s stock worth $2,662,000 after acquiring an additional 350 shares during the last quarter. Oak Thistle LLC boosted its holdings in FMC by 5.5% during the 1st quarter. Oak Thistle LLC now owns 7,653 shares of the basic materials company’s stock worth $323,000 after acquiring an additional 398 shares during the last quarter. Finally, Golden State Wealth Management LLC boosted its holdings in shares of 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 worth $42,000 after buying an additional 402 shares during the last quarter. 91.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FMC. UBS Group cut their price target on shares of FMC from $45.00 to $44.00 and set a “neutral” rating on the stock in a report on Thursday, July 31st. Wall Street Zen raised shares of FMC from a “sell” rating to a “hold” rating in a report on Saturday, June 14th. Mizuho raised shares of 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. Royal Bank Of Canada cut their price target on shares of FMC from $47.00 to $42.00 and set a “sector perform” rating on the stock in a report on Friday, August 1st. Finally, Morgan Stanley cut their price target on shares of FMC from $46.00 to $42.00 and set an “equal weight” rating on the stock in a report on Friday, August 1st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, FMC has a consensus rating of “Hold” and a consensus target price of $49.58.

FMC Price Performance

NYSE FMC opened at $37.28 on Friday. The company has a market cap of $4.66 billion, a PE ratio of 46.60, a price-to-earnings-growth ratio of 1.16 and a beta of 0.75. FMC Corporation has a 52 week low of $32.83 and a 52 week high of $67.75. The company has a quick ratio of 1.14, a current ratio of 1.53 and a debt-to-equity ratio of 0.74. The firm’s 50-day simple moving average is $41.46 and its two-hundred day simple moving average is $40.44.

FMC (NYSE:FMC) last released its quarterly earnings data on Wednesday, July 30th. The basic materials company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.59 by $0.10. The business had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $995.15 million. FMC had a net margin of 2.42% and a return on equity of 9.36%. The company’s revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.63 earnings per share. Research analysts predict that FMC Corporation will post 3.48 earnings per share for the current year.

FMC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 16th. Stockholders of record on Tuesday, September 30th will be issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date of this dividend is Tuesday, September 30th. FMC’s dividend payout ratio is presently 290.00%.

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.