Ieq Capital LLC Has $345,000 Holdings in FMC Co. (NYSE:FMC)

Posted by Defense World Staff on Apr 30th, 2023

Ieq Capital LLC decreased its holdings in FMC Co. (NYSE:FMC – Get Rating) by 11.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,763 shares of the basic materials company’s stock after selling 362 shares during the period. Ieq Capital LLC’s holdings in FMC were worth $345,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. lifted its position in FMC by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 14,253,322 shares of the basic materials company’s stock worth $1,506,576,000 after buying an additional 99,473 shares in the last quarter. BlackRock Inc. increased its stake in shares of FMC by 1.8% in the third quarter. BlackRock Inc. now owns 11,561,614 shares of the basic materials company’s stock worth $1,222,062,000 after acquiring an additional 209,813 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of FMC by 14.3% during the third quarter. Price T Rowe Associates Inc. MD now owns 3,085,382 shares of the basic materials company’s stock worth $326,126,000 after acquiring an additional 386,465 shares in the last quarter. Invesco Ltd. boosted its position in FMC by 41.5% during the first quarter. Invesco Ltd. now owns 1,581,629 shares of the basic materials company’s stock valued at $208,094,000 after purchasing an additional 463,542 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in FMC by 10.0% during the third quarter. Bank of New York Mellon Corp now owns 1,471,168 shares of the basic materials company’s stock valued at $155,502,000 after purchasing an additional 133,207 shares during the last quarter. 88.28% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Redburn Partners upgraded FMC from a “neutral” rating to a “buy” rating and set a $155.00 price objective on the stock in a report on Friday, March 17th. KeyCorp lifted their price objective on shares of FMC from $140.00 to $144.00 and gave the company an “overweight” rating in a research note on Thursday, February 9th. Wells Fargo & Company raised their target price on FMC from $141.00 to $148.00 and gave the company an “overweight” rating in a report on Monday, January 9th. UBS Group increased their price objective on FMC from $142.00 to $147.00 and gave the company a “buy” rating in a report on Wednesday, January 11th. Finally, The Goldman Sachs Group boosted their target price on FMC from $155.00 to $159.00 and gave the stock a “buy” rating in a report on Tuesday, February 14th. One investment analyst has rated the stock with a sell rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $144.38.

FMC Price Performance

Shares of FMC stock opened at $123.58 on Friday. The company has a market capitalization of $15.46 billion, a P/E ratio of 21.23, a P/E/G ratio of 1.53 and a beta of 0.82. The company has a current ratio of 1.43, a quick ratio of 1.00 and a debt-to-equity ratio of 0.80. FMC Co. has a 12 month low of $98.24 and a 12 month high of $136.96. The stock has a 50 day moving average of $122.61 and a two-hundred day moving average of $124.64.

FMC (NYSE:FMC – Get Rating) last issued its earnings results 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. The firm had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.53 billion. FMC had a return on equity of 29.29% and a net margin of 12.69%. FMC’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same period last year, the business earned $2.16 earnings per share. As a group, equities analysts expect that FMC Co. will post 7.94 EPS for the current year.

FMC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 20th. Investors of record on Friday, June 30th will be paid a $0.58 dividend. The ex-dividend date is Thursday, June 29th. This represents a $2.32 dividend on an annualized basis and a yield of 1.88%. FMC’s payout ratio is currently 39.86%.

Insider Buying and Selling

In other news, CFO Andrew D. Sandifer sold 5,000 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 39,061 shares of the company’s stock, valued at approximately $4,990,823.97. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Nicholas Pfeiffer sold 4,421 shares of FMC stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $129.70, for a total transaction of $573,403.70. Following the completion of the transaction, the insider now directly owns 12,064 shares of the company’s stock, valued at approximately $1,564,700.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Andrew D. Sandifer sold 5,000 shares of the company’s stock in a transaction dated Thursday, March 2nd. The stock was sold at an average price of $127.77, for a total transaction of $638,850.00. Following the sale, the chief financial officer now directly owns 39,061 shares in the company, valued at $4,990,823.97. The disclosure for this sale can be found here. Insiders sold 11,376 shares of company stock valued at $1,465,016 over the last quarter. Corporate insiders own 0.85% of the company’s stock.

About FMC

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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.