Vanguard Group Inc. Sells 616,233 Shares of FMC Corporation (NYSE:FMC)

Vanguard Group Inc. lowered its position in shares of FMC Corporation (NYSE:FMC) by 4.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,675,645 shares of the basic materials company’s stock after selling 616,233 shares during the period. Vanguard Group Inc. owned about 11.75% of FMC worth $619,165,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Atria Wealth Solutions Inc. purchased a new position in shares of FMC in the first quarter worth about $236,000. Cary Street Partners Financial LLC purchased a new position in shares of FMC in the first quarter worth about $606,000. IQ EQ FUND MANAGEMENT IRELAND Ltd increased its holdings in shares of FMC by 38.4% in the first quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 74,485 shares of the basic materials company’s stock worth $3,143,000 after buying an additional 20,677 shares during the period. ING Groep NV increased its holdings in shares of FMC by 231.2% in the first quarter. ING Groep NV now owns 52,800 shares of the basic materials company’s stock worth $2,228,000 after buying an additional 36,856 shares during the period. Finally, Blair William & Co. IL purchased a new position in shares of FMC in the first quarter worth about $408,000. Institutional investors own 91.86% of the company’s stock.

FMC Stock Up 6.8%

FMC stock opened at $37.54 on Thursday. FMC Corporation has a fifty-two week low of $32.83 and a fifty-two week high of $67.75. The business’s 50 day moving average price is $41.55 and its two-hundred day moving average price is $40.57. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.14 and a current ratio of 1.53. The company has a market capitalization of $4.69 billion, a price-to-earnings ratio of 46.93, a price-to-earnings-growth ratio of 1.09 and a beta of 0.75.

FMC (NYSE:FMC) last posted its earnings results on Wednesday, July 30th. The basic materials company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.10. FMC had a return on equity of 9.36% and a net margin of 2.42%. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $995.15 million. During the same quarter in the prior year, the business earned $0.63 EPS. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. As a group, analysts forecast that FMC Corporation will post 3.48 earnings per share for the current fiscal year.

FMC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 16th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.58 per share. The ex-dividend date is Tuesday, September 30th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 6.2%. FMC’s dividend payout ratio is 290.00%.

Analysts Set New Price Targets

Several research firms have recently commented on FMC. Morgan Stanley decreased their price objective on FMC from $46.00 to $42.00 and set an “equal weight” rating on the stock in a report on Friday, August 1st. Wall Street Zen upgraded FMC from a “sell” rating to a “hold” rating in a report on Saturday, June 14th. Royal Bank Of Canada decreased their price objective on FMC from $47.00 to $42.00 and set a “sector perform” rating on the stock in a report on Friday, August 1st. KeyCorp boosted their price target on FMC from $53.00 to $61.00 and gave the company an “overweight” rating in a report on Monday, July 14th. Finally, Mizuho upgraded FMC from a “neutral” rating to an “outperform” rating and set a $49.00 price target on the stock in a report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, FMC presently has a consensus rating of “Hold” and a consensus price target of $49.58.

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.