FMC Co. (NYSE:FMC) Stake Lessened by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board lowered its holdings in FMC Co. (NYSE:FMC) by 76.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,504 shares of the basic materials company’s stock after selling 33,274 shares during the period. Ontario Teachers Pension Plan Board’s holdings in FMC were worth $669,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of FMC by 5.3% in the first quarter. Vanguard Group Inc. now owns 15,290,219 shares of the basic materials company’s stock valued at $973,987,000 after purchasing an additional 768,432 shares in the last quarter. Jade Capital Advisors LLC lifted its holdings in shares of FMC by 125.0% in the first quarter. Jade Capital Advisors LLC now owns 27,000 shares of the basic materials company’s stock valued at $1,720,000 after purchasing an additional 15,000 shares in the last quarter. M&G Plc purchased a new stake in shares of FMC in the first quarter valued at $5,402,000. Sentry Investment Management LLC purchased a new stake in shares of FMC in the first quarter valued at $45,000. Finally, Kingsview Wealth Management LLC acquired a new position in shares of FMC in the first quarter worth $206,000. Hedge funds and other institutional investors own 91.86% of the company’s stock.

Wall Street Analyst Weigh In

FMC has been the topic of a number of research reports. JPMorgan Chase & Co. dropped their price target on shares of FMC from $53.00 to $50.00 and set a “neutral” rating on the stock in a research note on Monday, May 13th. Wells Fargo & Company dropped their price target on shares of FMC from $68.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. Mizuho upped their price target on shares of FMC from $55.00 to $57.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 7th. Royal Bank of Canada upped their price target on shares of FMC from $65.00 to $81.00 and gave the stock an “outperform” rating in a research note on Friday, May 10th. Finally, KeyCorp increased their target price on shares of FMC from $79.00 to $81.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $69.71.

FMC Stock Performance

Shares of NYSE FMC traded up $0.09 during mid-day trading on Monday, hitting $57.91. The company had a trading volume of 1,351,063 shares, compared to its average volume of 1,952,576. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.46 and a quick ratio of 1.02. The business’s 50-day simple moving average is $58.65 and its 200-day simple moving average is $58.78. FMC Co. has a 12 month low of $49.49 and a 12 month high of $96.81. The firm has a market cap of $7.23 billion, a P/E ratio of 6.45, a PEG ratio of 1.34 and a beta of 0.84.

FMC (NYSE:FMC) last released its earnings results on Monday, May 6th. The basic materials company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.01. The business had revenue of $918.00 million during the quarter, compared to analysts’ expectations of $1.01 billion. FMC had a net margin of 27.65% and a return on equity of 7.68%. The firm’s revenue was down 31.7% on a year-over-year basis. During the same quarter last year, the company earned $1.77 earnings per share. As a group, analysts predict that FMC Co. will post 3.51 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, October 17th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 4.01%. FMC’s dividend payout ratio is 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.