Mackenzie Financial Corp Lowers Holdings in FMC Co. (NYSE:FMC)

Mackenzie Financial Corp decreased its holdings in FMC Co. (NYSE:FMC) by 56.3% in the 4th quarter, HoldingsChannel reports. The firm owned 12,049 shares of the basic materials company’s stock after selling 15,497 shares during the quarter. Mackenzie Financial Corp’s holdings in FMC were worth $760,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CWM LLC lifted its stake in FMC by 70.3% in the third quarter. CWM LLC now owns 8,154 shares of the basic materials company’s stock worth $546,000 after acquiring an additional 3,366 shares during the last quarter. AE Wealth Management LLC lifted its stake in FMC by 5.7% in the third quarter. AE Wealth Management LLC now owns 4,130 shares of the basic materials company’s stock worth $277,000 after acquiring an additional 223 shares during the last quarter. Caprock Group LLC lifted its stake in FMC by 73.8% in the third quarter. Caprock Group LLC now owns 3,881 shares of the basic materials company’s stock worth $262,000 after acquiring an additional 1,648 shares during the last quarter. CX Institutional purchased a new position in FMC in the third quarter worth approximately $1,688,000. Finally, Czech National Bank lifted its stake in FMC by 47.3% in the third quarter. Czech National Bank now owns 21,800 shares of the basic materials company’s stock worth $1,460,000 after acquiring an additional 6,997 shares during the last quarter. Hedge funds and other institutional investors own 91.86% of the company’s stock.

FMC Stock Performance

Shares of FMC opened at $57.80 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.52. The stock has a market capitalization of $7.21 billion, a P/E ratio of 5.49, a P/E/G ratio of 1.89 and a beta of 0.87. The company’s fifty day moving average is $59.33 and its two-hundred day moving average is $58.10. FMC Co. has a 1 year low of $49.49 and a 1 year high of $124.61.

FMC (NYSE:FMC) last announced its quarterly earnings data on Tuesday, February 6th. The basic materials company reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.01). The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.25 billion. FMC had a net margin of 29.45% and a return on equity of 12.98%. During the same period in the prior year, the firm posted $2.37 earnings per share. On average, sell-side analysts predict that FMC Co. will post 3.88 earnings per share for the current year.

FMC Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Thursday, March 28th were paid a dividend of $0.58 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 4.01%. FMC’s dividend payout ratio (DPR) is presently 22.03%.

Insider Transactions at FMC

In related news, CFO Andrew D. Sandifer purchased 2,150 shares of the stock in a transaction dated Monday, March 4th. The shares were acquired at an average cost of $59.22 per share, with a total value of $127,323.00. Following the purchase, the chief financial officer now directly owns 50,088 shares in the company, valued at approximately $2,966,211.36. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.85% of the company’s stock.

Analyst Ratings Changes

FMC has been the subject of a number of recent research reports. StockNews.com downgraded shares of FMC from a “hold” rating to a “sell” rating in a research note on Thursday, April 18th. Wolfe Research initiated coverage on shares of FMC in a research report on Friday, March 1st. They set a “peer perform” rating for the company. Roth Mkm initiated coverage on shares of FMC in a research report on Thursday, January 4th. They set a “buy” rating and a $74.00 price objective for the company. Bank of America downgraded shares of FMC from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $60.00 to $57.00 in a research report on Tuesday, January 16th. Finally, Mizuho reduced their price objective on shares of FMC from $59.00 to $55.00 and set a “neutral” rating for the company in a research report on Tuesday, February 6th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $71.75.

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.