FMC Co. (NYSE:FMC) Shares Sold by New York Life Investment Management LLC

New York Life Investment Management LLC cut its position in shares of FMC Co. (NYSE:FMC) by 13.8% during the 4th quarter, Holdings Channel reports. The firm owned 17,733 shares of the basic materials company’s stock after selling 2,850 shares during the period. New York Life Investment Management LLC’s holdings in FMC were worth $1,118,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Victory Capital Management Inc. grew its holdings in FMC by 38.9% during the fourth quarter. Victory Capital Management Inc. now owns 92,920 shares of the basic materials company’s stock worth $5,859,000 after acquiring an additional 26,012 shares during the period. Gibraltar Capital Management Inc. bought a new position in shares of FMC during the 4th quarter valued at about $682,000. Hartford Funds Management Co LLC grew its stake in shares of FMC by 41.9% in the 4th quarter. Hartford Funds Management Co LLC now owns 4,575 shares of the basic materials company’s stock worth $288,000 after purchasing an additional 1,352 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of FMC by 517.5% in the 4th quarter. Russell Investments Group Ltd. now owns 809,382 shares of the basic materials company’s stock worth $51,032,000 after purchasing an additional 678,307 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D lifted its stake in FMC by 3.8% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 72,063 shares of the basic materials company’s stock valued at $4,544,000 after purchasing an additional 2,647 shares during the last quarter. 91.86% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other FMC news, CFO Andrew D. Sandifer bought 2,150 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was purchased at an average price of $59.22 per share, for a total transaction of $127,323.00. Following the purchase, the chief financial officer now directly owns 50,088 shares in the company, valued at $2,966,211.36. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.81% of the stock is owned by insiders.

FMC Trading Up 9.5 %

Shares of NYSE:FMC opened at $66.78 on Wednesday. The firm has a market capitalization of $8.34 billion, a P/E ratio of 6.34, a price-to-earnings-growth ratio of 1.99 and a beta of 0.88. FMC Co. has a 12-month low of $49.49 and a 12-month high of $114.66. The company has a quick ratio of 1.01, a current ratio of 1.52 and a debt-to-equity ratio of 0.68. The firm has a fifty day moving average of $60.43 and a two-hundred day moving average of $57.79.

FMC (NYSE:FMC) last posted its earnings results on Monday, May 6th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. The firm had revenue of $918.00 million during the quarter, compared to analysts’ expectations of $1.01 billion. FMC had a net margin of 29.45% and a return on equity of 12.98%. The company’s revenue was down 31.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.77 earnings per share. On average, equities analysts expect that FMC Co. will post 3.88 EPS for the current fiscal year.

FMC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Friday, June 28th will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $2.32 dividend on an annualized basis and a yield of 3.47%. FMC’s payout ratio is currently 22.03%.

Wall Street Analyst Weigh In

Several research firms have issued reports on FMC. Royal Bank of Canada decreased their price target on shares of FMC from $61.00 to $59.00 and set an “outperform” rating on the stock in a research report on Thursday, February 8th. StockNews.com cut FMC from a “hold” rating to a “sell” rating in a report on Thursday, April 18th. BNP Paribas downgraded FMC from an “outperform” rating to a “neutral” rating and set a $56.00 target price for the company. in a report on Wednesday, February 7th. BMO Capital Markets dropped their price target on FMC from $63.00 to $61.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 7th. Finally, Bank of America lowered shares of FMC from a “neutral” rating to an “underperform” rating and reduced their price objective for the company from $60.00 to $57.00 in a research note on Tuesday, January 16th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $71.88.

FMC 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.