State of Alaska Department of Revenue boosted its stake in shares of FMC Co. (NYSE:FMC – Get Rating) by 81.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 53,032 shares of the basic materials company’s stock after buying an additional 23,790 shares during the period. State of Alaska Department of Revenue’s holdings in FMC were worth $5,674,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Avantax Advisory Services Inc. lifted its stake in shares of FMC by 13.9% in the 1st quarter. Avantax Advisory Services Inc. now owns 3,015 shares of the basic materials company’s stock valued at $399,000 after purchasing an additional 368 shares during the last quarter. Profund Advisors LLC lifted its stake in shares of FMC by 4.8% in the 1st quarter. Profund Advisors LLC now owns 4,235 shares of the basic materials company’s stock valued at $557,000 after purchasing an additional 193 shares during the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of FMC by 19.5% in the 1st quarter. Commonwealth Equity Services LLC now owns 13,852 shares of the basic materials company’s stock valued at $1,822,000 after purchasing an additional 2,265 shares during the last quarter. abrdn plc lifted its stake in shares of FMC by 12.6% in the 1st quarter. abrdn plc now owns 246,412 shares of the basic materials company’s stock valued at $32,803,000 after purchasing an additional 27,669 shares during the last quarter. Finally, Westpac Banking Corp lifted its stake in shares of FMC by 37.1% in the 1st quarter. Westpac Banking Corp now owns 146,190 shares of the basic materials company’s stock valued at $19,234,000 after purchasing an additional 39,567 shares during the last quarter. Institutional investors and hedge funds own 87.42% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities analysts have recently commented on the company. Credit Suisse Group decreased their price target on FMC from $109.00 to $105.00 and set an “underperform” rating on the stock in a research note on Wednesday, August 3rd. Mizuho cut their price objective on FMC from $149.00 to $144.00 and set a “buy” rating on the stock in a report on Thursday, August 4th. Redburn Partners downgraded FMC from a “buy” rating to a “neutral” rating in a report on Monday, June 13th. Bank of America upgraded FMC from an “underperform” rating to a “buy” rating and set a $127.00 price objective on the stock in a report on Tuesday, June 21st. They noted that the move was a valuation call. Finally, StockNews.com downgraded FMC from a “buy” rating to a “hold” rating in a report on Saturday, August 27th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $132.64.
FMC Price Performance
FMC (NYSE:FMC – Get Rating) last issued its quarterly earnings results on Tuesday, August 2nd. The basic materials company reported $1.93 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.04. FMC had a return on equity of 30.64% and a net margin of 12.80%. During the same quarter in the prior year, the business posted $1.81 EPS. Analysts forecast that FMC Co. will post 7.45 EPS for the current fiscal year.
FMC Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 20th. Shareholders of record on Friday, September 30th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $2.12 annualized dividend and a yield of 1.99%. FMC’s dividend payout ratio (DPR) is 38.97%.
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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