FMC Corporation (NYSE:FMC) Stake Lessened by Fifth Third Bancorp

Fifth Third Bancorp lowered its holdings in FMC Corporation (NYSE:FMC) by 41.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,585 shares of the basic materials company’s stock after selling 5,402 shares during the period. Fifth Third Bancorp’s holdings in FMC were worth $320,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of FMC. EverSource Wealth Advisors LLC lifted its holdings in shares of FMC by 217.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 746 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 511 shares in the last quarter. Resona Asset Management Co. Ltd. purchased a new stake in shares of FMC in the fourth quarter valued at $37,000. IFP Advisors Inc lifted its holdings in shares of FMC by 65.3% in the fourth quarter. IFP Advisors Inc now owns 959 shares of the basic materials company’s stock valued at $47,000 after purchasing an additional 379 shares in the last quarter. Principal Securities Inc. lifted its holdings in shares of FMC by 34.7% in the fourth quarter. Principal Securities Inc. now owns 990 shares of the basic materials company’s stock valued at $48,000 after purchasing an additional 255 shares in the last quarter. Finally, Central Pacific Bank Trust Division purchased a new stake in shares of FMC in the first quarter valued at $55,000. Hedge funds and other institutional investors own 91.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on FMC shares. KeyCorp increased their target price on FMC from $49.00 to $53.00 and gave the company an “overweight” rating in a report on Friday, May 2nd. UBS Group upped their price target on shares of FMC from $38.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, May 1st. Wells Fargo & Company dropped their price target on shares of FMC from $43.00 to $41.00 and set an “equal weight” rating on the stock in a research note on Monday, April 21st. The Goldman Sachs Group assumed coverage on shares of FMC in a research note on Thursday, March 13th. They issued a “buy” rating and a $51.00 price target on the stock. Finally, Mizuho raised shares of FMC from a “neutral” rating to an “outperform” rating and set a $49.00 price target on the stock in a research note on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, FMC presently has an average rating of “Hold” and a consensus price target of $49.46.

FMC Trading Down 0.6%

FMC stock opened at $41.62 on Thursday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.54 and a quick ratio of 1.12. The company has a market capitalization of $5.20 billion, a price-to-earnings ratio of 15.88, a PEG ratio of 1.26 and a beta of 0.76. FMC Corporation has a one year low of $32.83 and a one year high of $68.55. The company’s fifty day moving average price is $39.56 and its two-hundred day moving average price is $43.70.

FMC (NYSE:FMC) last issued its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.10. The company had revenue of $791.40 million for the quarter, compared to the consensus estimate of $783.70 million. FMC had a return on equity of 9.12% and a net margin of 7.97%. The firm’s revenue was down 13.8% compared to the same quarter last year. During the same period last year, the business posted $0.36 earnings per share. On average, analysts forecast that FMC Corporation will post 3.48 earnings per share for the current fiscal year.

FMC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 17th. Stockholders of record on Monday, June 30th will be given a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 5.57%. The ex-dividend date is Monday, June 30th. FMC’s dividend payout ratio is currently 88.55%.

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.