Courier Capital LLC Lowers Stake in FMC Co. (NYSE:FMC)

Courier Capital LLC reduced its stake in shares of FMC Co. (NYSE:FMC) by 11.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,599 shares of the basic materials company’s stock after selling 1,375 shares during the quarter. Courier Capital LLC’s holdings in FMC were worth $675,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in FMC. Wealth Enhancement Advisory Services LLC raised its holdings in FMC by 13.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,422 shares of the basic materials company’s stock worth $855,000 after purchasing an additional 1,583 shares in the last quarter. Riverview Trust Co acquired a new position in shares of FMC during the first quarter valued at about $27,000. Ballentine Partners LLC increased its holdings in shares of FMC by 52.5% during the first quarter. Ballentine Partners LLC now owns 9,135 shares of the basic materials company’s stock valued at $582,000 after acquiring an additional 3,146 shares in the last quarter. Rockland Trust Co. increased its holdings in shares of FMC by 105.5% during the first quarter. Rockland Trust Co. now owns 10,391 shares of the basic materials company’s stock valued at $662,000 after acquiring an additional 5,334 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its holdings in shares of FMC by 27.7% during the first quarter. Massmutual Trust Co. FSB ADV now owns 866 shares of the basic materials company’s stock valued at $55,000 after acquiring an additional 188 shares in the last quarter. 91.86% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

FMC has been the topic of several recent analyst reports. Wells Fargo & Company upped their price objective on shares of FMC from $65.00 to $68.00 and gave the company an “equal weight” rating in a report on Wednesday, May 8th. Loop Capital upped their target price on FMC from $55.00 to $65.00 and gave the company a “hold” rating in a research report on Tuesday, March 19th. Mizuho upped their target price on FMC from $55.00 to $57.00 and gave the company a “neutral” rating in a research report on Tuesday, May 7th. UBS Group upgraded FMC from a “neutral” rating to a “buy” rating and upped their target price for the company from $61.00 to $84.00 in a research report on Wednesday, March 20th. Finally, JPMorgan Chase & Co. dropped their target price on FMC from $53.00 to $50.00 and set a “neutral” rating on the stock in a research report on Monday, May 13th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, FMC has an average rating of “Hold” and an average target price of $70.06.

FMC Price Performance

Shares of NYSE:FMC traded up $0.47 during midday trading on Friday, reaching $57.55. 2,771,683 shares of the company’s stock traded hands, compared to its average volume of 2,023,064. FMC Co. has a 1 year low of $49.49 and a 1 year high of $106.87. The company has a market cap of $7.18 billion, a P/E ratio of 6.37, a PEG ratio of 1.17 and a beta of 0.88. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.46. The company has a fifty day simple moving average of $59.91 and a two-hundred day simple moving average of $59.25.

FMC (NYSE:FMC) last announced its earnings results on Monday, May 6th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. FMC had a return on equity of 7.68% and a net margin of 27.65%. The firm had revenue of $918.00 million for the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the firm posted $1.77 EPS. The business’s revenue was down 31.7% on a year-over-year basis. Equities analysts predict that FMC Co. will post 3.6 EPS for the current fiscal year.

FMC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Friday, June 28th will be given a dividend of $0.58 per share. The ex-dividend date is Friday, June 28th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 4.03%. FMC’s dividend payout ratio (DPR) is 25.89%.

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.