Assenagon Asset Management S.A. cut its position in shares of FMC Co. (NYSE:FMC – Free Report) by 16.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,159 shares of the basic materials company’s stock after selling 434 shares during the quarter. Assenagon Asset Management S.A.’s holdings in FMC were worth $264,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the stock. Raymond James Financial Services Advisors Inc. lifted its holdings in FMC by 9.6% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 10,326 shares of the basic materials company’s stock worth $1,359,000 after buying an additional 908 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of FMC in the 1st quarter worth $191,000. Cibc World Market Inc. acquired a new stake in shares of FMC during the first quarter worth $224,000. Prudential PLC acquired a new stake in shares of FMC during the first quarter worth $383,000. Finally, National Pension Service grew its holdings in shares of FMC by 872,245.0% during the first quarter. National Pension Service now owns 174,469 shares of the basic materials company’s stock valued at $22,955,000 after buying an additional 174,449 shares in the last quarter. Institutional investors and hedge funds own 86.95% of the company’s stock.
Analyst Ratings Changes
A number of research analysts have commented on FMC shares. Wells Fargo & Company lowered their target price on FMC from $148.00 to $142.00 in a research note on Wednesday, May 3rd. Credit Suisse Group cut their price target on FMC from $120.00 to $101.00 in a report on Tuesday. Mizuho dropped their target price on FMC from $147.00 to $127.00 in a report on Tuesday. StockNews.com began coverage on FMC in a research report on Thursday, May 18th. They set a “hold” rating on the stock. Finally, Bank of America dropped their price objective on FMC from $139.00 to $122.00 in a research note on Wednesday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $129.38.
FMC Price Performance
FMC (NYSE:FMC – Get Free Report) last issued its earnings results on Monday, May 1st. The basic materials company reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.73 by $0.04. The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.43 billion. FMC had a net margin of 12.51% and a return on equity of 27.91%. The business’s revenue was down .7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.88 earnings per share. Research analysts anticipate that FMC Co. will post 7.74 earnings per share for the current year.
FMC Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 20th. Shareholders of record on Friday, June 30th will be given a $0.58 dividend. The ex-dividend date of this dividend is Thursday, June 29th. This represents a $2.32 annualized dividend and a yield of 2.43%. FMC’s payout ratio is presently 40.49%.
Insiders Place Their Bets
In other news, CEO Mark Douglas acquired 4,121 shares of FMC stock in a transaction dated Wednesday, May 3rd. The stock was purchased at an average cost of $115.53 per share, with a total value of $476,099.13. Following the completion of the purchase, the chief executive officer now directly owns 41,672 shares in the company, valued at approximately $4,814,366.16. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 include 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.
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