HB Wealth Management LLC Purchases 208 Shares of FMC Co. (NYSE:FMC)

HB Wealth Management LLC increased its position in shares of FMC Co. (NYSE:FMC) by 3.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,649 shares of the basic materials company’s stock after purchasing an additional 208 shares during the quarter. HB Wealth Management LLC’s holdings in FMC were worth $325,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. ABLE Financial Group LLC lifted its position in FMC by 8.8% during the second quarter. ABLE Financial Group LLC now owns 4,046 shares of the basic materials company’s stock worth $233,000 after purchasing an additional 328 shares during the period. Skylands Capital LLC raised its stake in FMC by 24.3% during the second quarter. Skylands Capital LLC now owns 255,000 shares of the basic materials company’s stock worth $14,675,000 after acquiring an additional 49,850 shares in the last quarter. Summit Securities Group LLC acquired a new position in FMC during the second quarter worth about $58,000. Allspring Global Investments Holdings LLC raised its stake in FMC by 9.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 9,240 shares of the basic materials company’s stock worth $532,000 after acquiring an additional 773 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in FMC by 2.1% during the second quarter. Bank of New York Mellon Corp now owns 858,129 shares of the basic materials company’s stock worth $49,385,000 after acquiring an additional 17,381 shares in the last quarter. Institutional investors own 91.86% of the company’s stock.

FMC Trading Down 1.3 %

Shares of FMC opened at $64.56 on Friday. The business has a 50-day moving average of $59.92 and a 200 day moving average of $59.68. FMC Co. has a fifty-two week low of $49.49 and a fifty-two week high of $88.83. The firm has a market cap of $8.06 billion, a P/E ratio of 7.21, a price-to-earnings-growth ratio of 1.65 and a beta of 0.84. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.02 and a current ratio of 1.48.

FMC (NYSE:FMC) last issued its earnings results on Wednesday, July 31st. The basic materials company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.55 by $0.08. FMC had a return on equity of 7.52% and a net margin of 33.97%. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the company earned $0.50 EPS. The firm’s revenue was up 2.4% compared to the same quarter last year. As a group, research analysts forecast that FMC Co. will post 3.17 EPS for the current year.

FMC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Monday, September 30th will be paid a $0.58 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $2.32 annualized dividend and a yield of 3.59%. FMC’s dividend payout ratio is currently 25.89%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on FMC. Royal Bank of Canada upped their price objective on FMC from $65.00 to $81.00 and gave the company an “outperform” rating in a research note on Friday, May 10th. StockNews.com upgraded FMC from a “sell” rating to a “hold” rating in a report on Wednesday, May 8th. KeyCorp cut their target price on FMC from $81.00 to $79.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Redburn Atlantic upgraded FMC from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 19th. Finally, JPMorgan Chase & Co. raised their target price on FMC from $50.00 to $59.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, FMC has an average rating of “Hold” and an average target price of $68.63.

About FMC

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.