Natixis Asset Management reduced its position in shares of FMC Corporation (NYSE:FMC) by 34.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,385 shares of the company’s stock after selling 5,984 shares during the period. Natixis Asset Management’s holdings in FMC Corporation were worth $550,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Hennessy Advisors Inc. purchased a new position in FMC Corporation during the third quarter worth $14,695,000. Strs Ohio boosted its position in FMC Corporation by 28,691.2% in the second quarter. Strs Ohio now owns 580,142 shares of the company’s stock worth $26,866,000 after buying an additional 578,127 shares during the last quarter. Hanlon Investment Management Inc. purchased a new position in FMC Corporation during the second quarter worth $4,713,000. Global X Management Co. LLC boosted its position in FMC Corporation by 113.5% in the second quarter. Global X Management Co. LLC now owns 466,874 shares of the company’s stock worth $21,621,000 after buying an additional 248,150 shares during the last quarter. Finally, Sei Investments Co. boosted its position in FMC Corporation by 60.1% in the third quarter. Sei Investments Co. now owns 45,755 shares of the company’s stock worth $2,212,000 after buying an additional 17,177 shares during the last quarter. 92.38% of the stock is owned by institutional investors.
Shares of FMC Corporation (NYSE:FMC) traded down 0.34% during mid-day trading on Wednesday, reaching $58.55. 515,419 shares of the company traded hands. The company’s market capitalization is $7.84 billion. FMC Corporation has a 52 week low of $32.24 and a 52 week high of $60.00. The stock’s 50-day moving average is $57.67 and its 200-day moving average is $50.75.
FMC Corporation (NYSE:FMC) last released its earnings results on Wednesday, November 2nd. The company reported $0.67 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.59 by $0.08. FMC Corporation had a negative net margin of 0.33% and a positive return on equity of 18.06%. The company earned $808 million during the quarter, compared to analysts’ expectations of $674.10 million. During the same quarter last year, the business earned $0.42 EPS. The business’s revenue was down 2.8% on a year-over-year basis. On average, equities analysts predict that FMC Corporation will post $2.83 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 19th. Stockholders of record on Friday, December 30th will be paid a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 1.13%. The ex-dividend date is Wednesday, December 28th. FMC Corporation’s dividend payout ratio (DPR) is presently -733.25%.
FMC has been the subject of a number of recent analyst reports. BMO Capital Markets reaffirmed a “hold” rating on shares of FMC Corporation in a report on Friday, November 4th. Jefferies Group reaffirmed a “buy” rating and issued a $58.00 price objective on shares of FMC Corporation in a report on Thursday, September 29th. Credit Suisse Group raised shares of FMC Corporation from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $48.00 to $57.00 in a research note on Friday, November 4th. Vetr cut shares of FMC Corporation from a “sell” rating to a “strong sell” rating and set a $50.73 target price for the company. in a research note on Thursday, January 5th. Finally, Nomura reissued a “hold” rating on shares of FMC Corporation in a research note on Thursday, November 3rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $50.39.
About FMC Corporation
FMC Corporation is a diversified chemical company serving agricultural, consumer and industrial markets. The Company operates through three business segments: FMC Agricultural Solutions, FMC Health and Nutrition, and FMC Lithium. The Company’s FMC Agricultural Solutions segment develops, markets and sells over three classes of crop protection chemicals, including insecticides, herbicides and fungicides.
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