FMC Co. (NYSE:FMC) Plans $0.53 Quarterly Dividend

FMC Co. (NYSE:FMCGet Rating) declared a quarterly dividend on Thursday, April 28th, RTT News reports. Shareholders of record on Thursday, June 30th will be given a dividend of 0.53 per share by the basic materials company on Thursday, July 21st. This represents a $2.12 annualized dividend and a yield of 1.57%.

FMC has a dividend payout ratio of 24.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect FMC to earn $8.80 per share next year, which means the company should continue to be able to cover its $2.12 annual dividend with an expected future payout ratio of 24.1%.

NYSE FMC opened at $134.70 on Friday. The firm’s fifty day simple moving average is $128.98 and its two-hundred day simple moving average is $113.73. The company has a current ratio of 1.40, a quick ratio of 1.00 and a debt-to-equity ratio of 0.90. FMC has a 12-month low of $87.27 and a 12-month high of $140.99. The firm has a market capitalization of $16.96 billion, a P/E ratio of 23.63, a P/E/G ratio of 1.61 and a beta of 0.88.

FMC (NYSE:FMCGet Rating) last released its quarterly earnings results on Tuesday, February 8th. The basic materials company reported $2.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.02 by $0.14. FMC had a net margin of 14.60% and a return on equity of 29.16%. The business had revenue of $1.41 billion for the quarter, compared to analyst estimates of $1.37 billion. During the same period in the previous year, the company earned $1.42 earnings per share. The business’s revenue for the quarter was up 22.4% on a year-over-year basis. As a group, sell-side analysts predict that FMC will post 7.74 earnings per share for the current fiscal year.

In other FMC news, CFO Andrew D. Sandifer sold 1,500 shares of the company’s stock in a transaction dated Friday, March 4th. The shares were sold at an average price of $119.36, for a total value of $179,040.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael Finian Reilly sold 4,915 shares of the business’s stock in a transaction dated Tuesday, March 1st. The stock was sold at an average price of $115.41, for a total transaction of $567,240.15. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,096 shares of company stock valued at $1,306,961. Insiders own 0.57% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in FMC. Squarepoint Ops LLC increased its stake in shares of FMC by 62.9% during the fourth quarter. Squarepoint Ops LLC now owns 3,601 shares of the basic materials company’s stock worth $396,000 after purchasing an additional 1,391 shares in the last quarter. Cetera Investment Advisers increased its stake in shares of FMC by 4.3% during the fourth quarter. Cetera Investment Advisers now owns 3,679 shares of the basic materials company’s stock worth $404,000 after purchasing an additional 152 shares in the last quarter. MML Investors Services LLC grew its stake in FMC by 7.3% during the 4th quarter. MML Investors Services LLC now owns 9,165 shares of the basic materials company’s stock valued at $1,007,000 after acquiring an additional 620 shares in the last quarter. Stifel Financial Corp raised its holdings in FMC by 28.0% in the 4th quarter. Stifel Financial Corp now owns 36,905 shares of the basic materials company’s stock valued at $4,056,000 after acquiring an additional 8,073 shares during the last quarter. Finally, Advisors Asset Management Inc. lifted its stake in FMC by 9.1% in the 4th quarter. Advisors Asset Management Inc. now owns 28,247 shares of the basic materials company’s stock worth $3,104,000 after purchasing an additional 2,360 shares in the last quarter. 88.63% of the stock is owned by institutional investors and hedge funds.

FMC declared that its board has initiated a stock buyback program on Tuesday, February 8th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the basic materials company to repurchase up to 7.1% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

FMC has been the subject of several research reports. Bank of America downgraded shares of FMC from a “buy” rating to an “underperform” rating and set a $128.00 price objective for the company. in a research note on Tuesday, March 22nd. StockNews.com initiated coverage on shares of FMC in a research note on Thursday, March 31st. They set a “buy” rating for the company. Citigroup lifted their price objective on shares of FMC from $137.00 to $152.00 and gave the stock a “buy” rating in a research note on Tuesday, March 22nd. Redburn Partners initiated coverage on shares of FMC in a research note on Monday, January 31st. They set a “buy” rating for the company. Finally, Loop Capital downgraded shares of FMC from a “buy” rating to a “hold” rating and set a $140.00 price objective for the company. in a research note on Thursday, April 14th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $130.73.

About FMC (Get Rating)

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 include 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.

See Also

Dividend History for FMC (NYSE:FMC)

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