FMC Co. (NYSE:FMC – Get Rating) – Equities researchers at KeyCorp reduced their Q3 2022 earnings per share (EPS) estimates for FMC in a note issued to investors on Wednesday, May 4th. KeyCorp analyst A. Yefremov now anticipates that the basic materials company will earn $1.72 per share for the quarter, down from their previous estimate of $1.76. KeyCorp also issued estimates for FMC’s Q4 2022 earnings at $2.13 EPS, FY2022 earnings at $7.64 EPS and FY2023 earnings at $8.78 EPS.
FMC (NYSE:FMC – Get Rating) last announced its quarterly earnings results on Monday, May 2nd. The basic materials company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.71 by $0.17. FMC had a net margin of 14.64% and a return on equity of 30.30%. During the same quarter in the previous year, the company earned $1.53 EPS.
Shares of NYSE FMC opened at $119.00 on Monday. FMC has a 1 year low of $87.27 and a 1 year high of $140.99. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.38 and a quick ratio of 1.00. The company’s 50-day moving average is $129.98 and its 200 day moving average is $115.45. The stock has a market capitalization of $14.98 billion, a P/E ratio of 20.03, a P/E/G ratio of 1.40 and a beta of 0.82.
The business also recently announced a quarterly dividend, which will be paid on Thursday, July 21st. Investors of record on Thursday, June 30th will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 1.78%. The ex-dividend date is Wednesday, June 29th. FMC’s dividend payout ratio is currently 35.69%.
FMC announced that its Board of Directors has approved a stock buyback plan on Tuesday, February 8th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the basic materials company to repurchase up to 7.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In related news, insider Nicholas Pfeiffer sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 22nd. The shares were sold at an average price of $116.40, for a total value of $291,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Michael Finian Reilly sold 4,915 shares of the firm’s stock in a transaction that occurred on 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. Insiders sold 11,096 shares of company stock worth $1,306,961 in the last 90 days. 0.57% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the company. Cove Street Capital LLC boosted its stake in shares of FMC by 19.4% during the 3rd quarter. Cove Street Capital LLC now owns 57,337 shares of the basic materials company’s stock worth $5,250,000 after acquiring an additional 9,319 shares during the last quarter. King Luther Capital Management Corp boosted its stake in shares of FMC by 5.0% during the 3rd quarter. King Luther Capital Management Corp now owns 3,008,812 shares of the basic materials company’s stock worth $275,487,000 after acquiring an additional 144,214 shares during the last quarter. Peapack Gladstone Financial Corp purchased a new position in shares of FMC during the 3rd quarter worth $1,812,000. Gamco Investors INC. ET AL boosted its stake in shares of FMC by 49.0% during the 3rd quarter. Gamco Investors INC. ET AL now owns 189,731 shares of the basic materials company’s stock worth $17,372,000 after acquiring an additional 62,380 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its stake in shares of FMC by 30.1% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 17,548 shares of the basic materials company’s stock worth $1,914,000 after acquiring an additional 4,059 shares during the last quarter. Institutional investors and hedge funds own 88.44% of the company’s stock.
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.
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