Bowen Hanes & Co. Inc. Reduces Position in FMC Co. (NYSE:FMC)

Bowen Hanes & Co. Inc. lessened its position in shares of FMC Co. (NYSE:FMC) by 8.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 35,309 shares of the basic materials company’s stock after selling 3,390 shares during the quarter. Bowen Hanes & Co. Inc.’s holdings in FMC were worth $1,716,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp grew its stake in shares of FMC by 27.3% in the 3rd quarter. State Street Corp now owns 6,271,760 shares of the basic materials company’s stock valued at $417,151,000 after purchasing an additional 1,343,615 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of FMC by 48.9% in the 4th quarter. Bank of New York Mellon Corp now owns 2,088,235 shares of the basic materials company’s stock valued at $101,509,000 after purchasing an additional 685,995 shares during the last quarter. Ilex Capital Partners UK LLP grew its stake in shares of FMC by 2,129.4% in the 3rd quarter. Ilex Capital Partners UK LLP now owns 440,353 shares of the basic materials company’s stock valued at $29,037,000 after purchasing an additional 420,601 shares during the last quarter. Mizuho Securities USA LLC grew its stake in shares of FMC by 2,531.3% in the 3rd quarter. Mizuho Securities USA LLC now owns 253,179 shares of the basic materials company’s stock valued at $16,695,000 after purchasing an additional 243,557 shares during the last quarter. Finally, Jones Financial Companies Lllp grew its stake in shares of FMC by 50.7% in the 4th quarter. Jones Financial Companies Lllp now owns 427,256 shares of the basic materials company’s stock valued at $20,769,000 after purchasing an additional 143,770 shares during the last quarter. Hedge funds and other institutional investors own 91.86% of the company’s stock.

Analysts Set New Price Targets

FMC has been the topic of several analyst reports. Wells Fargo & Company reiterated a “cautious” rating on shares of FMC in a research note on Thursday, March 6th. Bank of America reissued an “underperform” rating and issued a $48.00 price target (down from $61.00) on shares of FMC in a report on Wednesday, February 5th. Barclays reduced their price target on FMC from $65.00 to $48.00 and set an “overweight” rating for the company in a report on Friday, February 7th. Morgan Stanley reduced their price target on FMC from $70.00 to $46.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. Finally, Vertical Research raised FMC to a “hold” rating in a report on Wednesday, February 5th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $52.23.

FMC Stock Performance

Shares of FMC stock opened at $39.81 on Thursday. The stock has a fifty day moving average price of $45.19 and a 200 day moving average price of $54.61. The stock has a market cap of $4.97 billion, a PE ratio of 14.63, a P/E/G ratio of 1.90 and a beta of 0.93. FMC Co. has a 1 year low of $33.80 and a 1 year high of $68.72. 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 released its quarterly earnings results on Tuesday, February 4th. The basic materials company reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.14. FMC had a return on equity of 9.67% and a net margin of 8.03%. Sell-side analysts forecast that FMC Co. will post 3.48 earnings per share for the current fiscal year.

FMC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 31st will be issued a $0.58 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.32 dividend on an annualized basis and a dividend yield of 5.83%. FMC’s dividend payout ratio (DPR) is 85.29%.

Insider Transactions at FMC

In related news, Director Carol Anthony Davidson purchased 6,000 shares of the business’s stock in a transaction dated Wednesday, March 5th. The stock was bought at an average cost of $37.33 per share, with a total value of $223,980.00. Following the completion of the acquisition, the director now directly owns 6,000 shares in the company, valued at $223,980. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ronaldo Pereira acquired 5,600 shares of the stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average cost of $35.77 per share, with a total value of $200,312.00. Following the transaction, the insider now owns 48,837 shares of the company’s stock, valued at approximately $1,746,899.49. This trade represents a 12.95 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.85% of the company’s stock.

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.