Employees Retirement System of Texas Purchases 10,050 Shares of FMC Co. (NYSE:FMC)

Employees Retirement System of Texas grew its position in FMC Co. (NYSE:FMC) by 13.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 85,200 shares of the basic materials company’s stock after acquiring an additional 10,050 shares during the quarter. Employees Retirement System of Texas owned 0.07% of FMC worth $4,903,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in FMC. Riverview Trust Co bought a new stake in FMC in the 1st quarter worth approximately $27,000. Benjamin F. Edwards & Company Inc. increased its position in shares of FMC by 114.3% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 568 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 303 shares during the last quarter. LRI Investments LLC bought a new position in shares of FMC during the 1st quarter valued at approximately $39,000. UMB Bank n.a. increased its position in shares of FMC by 56.9% during the 2nd quarter. UMB Bank n.a. now owns 678 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 246 shares during the last quarter. Finally, Sentry Investment Management LLC bought a new position in shares of FMC during the 1st quarter valued at approximately $45,000. Institutional investors own 91.86% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on FMC shares. Wells Fargo & Company cut their target price on FMC from $68.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. JPMorgan Chase & Co. boosted 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. KeyCorp cut their target price on FMC from $81.00 to $79.00 and set an “overweight” rating on the stock in a research 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, BMO Capital Markets increased their target price on FMC from $60.00 to $65.00 and gave the stock a “market perform” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, FMC presently has an average rating of “Hold” and a consensus price target of $68.47.

FMC Price Performance

FMC opened at $65.97 on Friday. FMC Co. has a 12-month low of $49.49 and a 12-month high of $68.72. The company has a current ratio of 1.48, a quick ratio of 1.07 and a debt-to-equity ratio of 0.66. The business’s fifty day simple moving average is $62.21 and its 200-day simple moving average is $60.76. The company has a market capitalization of $8.23 billion, a price-to-earnings ratio of 7.36, a PEG ratio of 1.57 and a beta of 0.85.

FMC (NYSE:FMC) last posted its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the company earned $0.50 EPS. The business’s revenue was up 2.4% compared to the same quarter last year. On average, equities research analysts anticipate that FMC Co. will post 3.41 earnings per share for the current fiscal year.

FMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Monday, September 30th will be given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date is Monday, September 30th. FMC’s payout ratio is currently 25.89%.

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.