Wealth Enhancement Advisory Services LLC Cuts Stock Position in FMC Co. (NYSE:FMC)

Wealth Enhancement Advisory Services LLC lowered its stake in FMC Co. (NYSE:FMC) by 32.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 29,094 shares of the basic materials company’s stock after selling 13,872 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in FMC were worth $1,414,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in FMC. Caprock Group LLC purchased a new stake in FMC during the 4th quarter valued at $208,000. abrdn plc boosted its stake in FMC by 98.4% during the 4th quarter. abrdn plc now owns 18,760 shares of the basic materials company’s stock valued at $902,000 after purchasing an additional 9,303 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in FMC by 53.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,363 shares of the basic materials company’s stock valued at $704,000 after purchasing an additional 5,025 shares during the last quarter. Golden State Wealth Management LLC purchased a new stake in FMC during the 4th quarter valued at $29,000. Finally, Wilmington Savings Fund Society FSB boosted its stake in FMC by 60.1% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 1,409 shares of the basic materials company’s stock valued at $68,000 after purchasing an additional 529 shares during the last quarter. Hedge funds and other institutional investors own 91.86% of the company’s stock.

FMC Price Performance

Shares of FMC stock opened at $42.80 on Friday. FMC Co. has a one year low of $32.83 and a one year high of $68.55. The stock’s fifty day moving average is $38.59 and its 200 day moving average is $44.51. The stock has a market cap of $5.35 billion, a P/E ratio of 15.74, a P/E/G ratio of 1.90 and a beta of 0.76. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.24 and a current ratio of 1.64.

FMC (NYSE:FMC) last posted its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.10. The business had revenue of $791.40 million for the quarter, compared to analysts’ expectations of $783.70 million. FMC had a return on equity of 9.67% and a net margin of 8.03%. The business’s quarterly revenue was down 13.8% on a year-over-year basis. During the same period last year, the firm earned $0.36 earnings per share. Sell-side analysts anticipate that FMC Co. will post 3.48 earnings per share for the current year.

FMC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 17th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.58 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.32 dividend on an annualized basis and a yield of 5.42%. FMC’s dividend payout ratio is presently 88.55%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Redburn Atlantic cut FMC from a “buy” rating to a “neutral” rating and set a $49.00 price target on the stock. in a report on Friday, February 14th. The Goldman Sachs Group assumed coverage on FMC in a report on Thursday, March 13th. They set a “buy” rating and a $51.00 price target on the stock. Wells Fargo & Company lowered their price target on FMC from $43.00 to $41.00 and set an “equal weight” rating on the stock in a report on Monday, April 21st. Wall Street Zen cut FMC from a “hold” rating to a “sell” rating in a report on Saturday, May 24th. Finally, KeyCorp increased their price target on FMC from $49.00 to $53.00 and gave the company an “overweight” rating in a report on Friday, May 2nd. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat, FMC presently has an average rating of “Hold” and a consensus target price of $49.46.

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.