Everence Capital Management Inc. Invests $301,000 in FMC Co. (NYSE:FMC)

Posted by Defense World Staff on Apr 16th, 2023

Everence Capital Management Inc. purchased a new stake in FMC Co. (NYSE:FMC – Get Rating) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 2,410 shares of the basic materials company’s stock, valued at approximately $301,000.

Several other large investors have also added to or reduced their stakes in FMC. Raymond James Financial Services Advisors Inc. boosted its holdings in FMC by 9.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 10,326 shares of the basic materials company’s stock valued at $1,359,000 after acquiring an additional 908 shares in the last quarter. Acadian Asset Management LLC bought a new stake in FMC in the first quarter valued at $191,000. Cibc World Market Inc. bought a new stake in FMC in the first quarter valued at $224,000. Prudential PLC bought a new stake in FMC in the first quarter valued at $383,000. Finally, National Pension Service boosted its holdings in FMC by 872,245.0% in the first quarter. National Pension Service now owns 174,469 shares of the basic materials company’s stock valued at $22,955,000 after acquiring an additional 174,449 shares in the last quarter. Institutional investors own 88.28% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on FMC shares. BMO Capital Markets lifted their price target on shares of FMC from $140.00 to $145.00 and gave the company an “outperform” rating in a report on Thursday, February 9th. Wells Fargo & Company raised their price objective on FMC from $141.00 to $148.00 and gave the company an “overweight” rating in a research report on Monday, January 9th. The Goldman Sachs Group raised their price objective on FMC from $155.00 to $159.00 and gave the company a “buy” rating in a research report on Tuesday, February 14th. UBS Group raised their price objective on FMC from $142.00 to $147.00 and gave the company a “buy” rating in a research report on Wednesday, January 11th. Finally, Citigroup raised their price objective on FMC from $138.00 to $148.00 and gave the company a “buy” rating in a research report on Friday, January 20th. One research analyst has rated the stock with a sell rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, FMC currently has a consensus rating of “Moderate Buy” and an average target price of $144.08.

Insider Buying and Selling

In related news, CFO Andrew D. Sandifer sold 5,000 shares of FMC stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $127.77, for a total value of $638,850.00. Following the completion of the sale, the chief financial officer now directly owns 39,061 shares in the company, valued at approximately $4,990,823.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other FMC news, EVP Ronaldo Pereira sold 1,955 shares of the business’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $129.29, for a total transaction of $252,761.95. Following the completion of the sale, the executive vice president now directly owns 19,478 shares in the company, valued at approximately $2,518,310.62. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Andrew D. Sandifer sold 5,000 shares of the business’s stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $127.77, for a total value of $638,850.00. Following the sale, the chief financial officer now owns 39,061 shares of the company’s stock, valued at $4,990,823.97. The disclosure for this sale can be found here. In the last ninety days, insiders sold 11,376 shares of company stock worth $1,465,016. 0.85% of the stock is owned by corporate insiders.

FMC Price Performance

FMC opened at $122.69 on Friday. The stock has a 50-day moving average price of $123.71 and a 200-day moving average price of $123.74. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.43 and a quick ratio of 1.00. The firm has a market cap of $15.35 billion, a PE ratio of 21.08, a P/E/G ratio of 1.55 and a beta of 0.82. FMC Co. has a 1 year low of $98.24 and a 1 year high of $140.99.

FMC (NYSE:FMC – Get Rating) last released its quarterly earnings data on Wednesday, February 8th. The basic materials company reported $2.37 EPS for the quarter, topping the consensus estimate of $2.32 by $0.05. FMC had a return on equity of 29.29% and a net margin of 12.69%. The company had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.53 billion. During the same period last year, the company earned $2.16 EPS. FMC’s revenue for the quarter was up 14.7% on a year-over-year basis. Sell-side analysts predict that FMC Co. will post 7.92 earnings per share for the current fiscal year.

FMC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 20th. Investors of record on Friday, March 31st will be issued a $0.58 dividend. The ex-dividend date of this dividend is Thursday, March 30th. This represents a $2.32 annualized dividend and a yield of 1.89%. FMC’s payout ratio is 39.86%.

FMC Profile

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FMC Corp. is an agricultural sciences company, which engages in the provision of solutions to growers and development of pipeline in crop protection, plant health, precision agriculture, and professional pest, and turf management. It offers insect control products under the Rynaxypyr and Cyazypyr brands, herbicides under the Authority, Boral, Centium, Command, and Gamit brands, insecticides under the Talstar and Hero brands, flutriafol-based fungicides, and bionematicides under the Quartzo and Presence brands.