Swiss National Bank Cuts Stock Holdings in FMC Corp (NYSE:FMC)
Swiss National Bank lowered its stake in shares of FMC Corp (NYSE:FMC) by 3.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 432,336 shares of the basic materials company’s stock after selling 17,100 shares during the period. Swiss National Bank owned approximately 0.33% of FMC worth $35,862,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of FMC. Envestnet Asset Management Inc. grew its holdings in FMC by 4.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 78,431 shares of the basic materials company’s stock valued at $6,506,000 after purchasing an additional 3,046 shares in the last quarter. DekaBank Deutsche Girozentrale grew its holdings in FMC by 101.1% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 14,188 shares of the basic materials company’s stock worth $1,215,000 after acquiring an additional 7,134 shares in the last quarter. Sandy Spring Bank grew its holdings in FMC by 19.5% during the 2nd quarter. Sandy Spring Bank now owns 13,829 shares of the basic materials company’s stock worth $1,147,000 after acquiring an additional 2,253 shares in the last quarter. Coastal Investment Advisors Inc. grew its holdings in FMC by 25.3% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 2,363 shares of the basic materials company’s stock worth $196,000 after acquiring an additional 477 shares in the last quarter. Finally, Pendal Group Ltd grew its holdings in FMC by 5.7% during the 2nd quarter. Pendal Group Ltd now owns 24,970 shares of the basic materials company’s stock worth $2,071,000 after acquiring an additional 1,340 shares in the last quarter. 89.79% of the stock is currently owned by institutional investors.
Several research analysts have weighed in on FMC shares. Bank of America lowered shares of FMC from a “buy” rating to a “neutral” rating in a report on Thursday, August 1st. Nomura raised their price objective on shares of FMC from $93.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Royal Bank of Canada raised shares of FMC from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $87.00 to $103.00 in a report on Friday, August 9th. Buckingham Research raised their price objective on shares of FMC from $94.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Citigroup reissued a “buy” rating and set a $93.00 price objective (up from $91.00) on shares of FMC in a report on Thursday, June 13th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $96.85.
Shares of FMC stock traded up $1.12 during trading hours on Wednesday, reaching $86.51. The company’s stock had a trading volume of 3,715 shares, compared to its average volume of 1,092,485. The company’s 50 day simple moving average is $84.89 and its 200 day simple moving average is $81.14. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.91 and a current ratio of 1.27. FMC Corp has a one year low of $69.36 and a one year high of $92.76. The stock has a market cap of $11.14 billion, a P/E ratio of 13.75, a price-to-earnings-growth ratio of 1.43 and a beta of 1.49.
FMC (NYSE:FMC) last posted its quarterly earnings results on Tuesday, July 30th. The basic materials company reported $1.66 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.03. FMC had a net margin of 10.65% and a return on equity of 27.33%. The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period last year, the firm posted $1.78 EPS. The company’s revenue for the quarter was up 4.5% on a year-over-year basis. On average, sell-side analysts predict that FMC Corp will post 5.8 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Monday, September 30th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, September 27th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.85%. FMC’s payout ratio is currently 25.44%.
FMC Corporation, a diversified chemical company, provides solutions, applications, and products for the agricultural, consumer, and industrial markets worldwide. The company operates in two segments, FMC Agricultural Solutions and FMC Lithium. The FMC Agricultural Solutions segment develops, manufactures, markets, and sells crop protection chemicals, including insecticides, herbicides, and fungicides that 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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