HB Wealth Management LLC Acquires New Position in FMC Co. (NYSE:FMC)

HB Wealth Management LLC bought a new position in FMC Co. (NYSE:FMC) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 5,441 shares of the basic materials company’s stock, valued at approximately $347,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Riverview Trust Co purchased a new position in FMC in the 1st quarter worth $27,000. CVA Family Office LLC purchased a new position in shares of FMC in the fourth quarter worth about $31,000. Financial Connections Group Inc. bought a new stake in shares of FMC in the 4th quarter valued at about $31,000. Benjamin F. Edwards & Company Inc. boosted its holdings in FMC by 114.3% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 568 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 303 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in FMC by 827.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 686 shares of the basic materials company’s stock worth $43,000 after purchasing an additional 612 shares during the period. Hedge funds and other institutional investors own 91.86% of the company’s stock.

FMC Trading Down 1.0 %

Shares of FMC stock traded down $0.56 on Friday, reaching $55.10. The company had a trading volume of 488,574 shares, compared to its average volume of 1,993,036. The firm has a market cap of $6.88 billion, a price-to-earnings ratio of 6.15, a P/E/G ratio of 1.15 and a beta of 0.84. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.46 and a quick ratio of 1.02. The firm’s 50-day moving average price is $59.71 and its two-hundred day moving average price is $59.20. FMC Co. has a 1 year low of $49.49 and a 1 year high of $104.92.

FMC (NYSE:FMC) last announced its earnings results on Monday, May 6th. The basic materials company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.01. The business had revenue of $918.00 million for the quarter, compared to the consensus estimate of $1.01 billion. FMC had a net margin of 27.65% and a return on equity of 7.68%. The business’s revenue for the quarter was down 31.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.77 earnings per share. As a group, research analysts predict that FMC Co. will post 3.6 earnings per share for the current fiscal year.

FMC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Friday, June 28th will be paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 4.21%. The ex-dividend date of this dividend is Friday, June 28th. FMC’s dividend payout ratio is currently 25.89%.

Analysts Set New Price Targets

FMC has been the topic of several recent analyst reports. Mizuho raised their target price on FMC from $55.00 to $57.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 7th. Royal Bank of Canada raised their price target on FMC from $65.00 to $81.00 and gave the stock an “outperform” rating in a research note on Friday, May 10th. UBS Group raised shares of FMC from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $61.00 to $84.00 in a research report on Wednesday, March 20th. Loop Capital raised their target price on shares of FMC from $55.00 to $65.00 and gave the stock a “hold” rating in a research report on Tuesday, March 19th. Finally, Barclays started coverage on shares of FMC in a research note on Wednesday, June 26th. They issued an “equal weight” rating and a $62.00 price target for the company. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $70.06.

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.