Bridgefront Capital LLC Takes Position in FMC Co. (NYSE:FMC)

Bridgefront Capital LLC bought a new position in shares of FMC Co. (NYSE:FMC) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,712 shares of the basic materials company’s stock, valued at approximately $569,000.

Other institutional investors also recently bought and sold shares of the company. Golden State Wealth Management LLC bought a new position in shares of FMC during the 4th quarter valued at about $29,000. EverSource Wealth Advisors LLC lifted its position in shares of FMC by 217.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 746 shares of the basic materials company’s stock worth $36,000 after buying an additional 511 shares in the last quarter. Resona Asset Management Co. Ltd. purchased a new position in FMC during the 4th quarter valued at approximately $37,000. IFP Advisors Inc raised its holdings in shares of FMC by 65.3% during the 4th quarter. IFP Advisors Inc now owns 959 shares of the basic materials company’s stock worth $47,000 after acquiring an additional 379 shares in the last quarter. Finally, Principal Securities Inc. boosted its position in shares of FMC by 34.7% during the 4th quarter. Principal Securities Inc. now owns 990 shares of the basic materials company’s stock valued at $48,000 after acquiring an additional 255 shares during the last quarter. 91.86% of the stock is owned by hedge funds and other institutional investors.

FMC Stock Down 5.0 %

Shares of NYSE FMC opened at $35.88 on Tuesday. The stock has a 50 day moving average price of $39.44 and a 200 day moving average price of $47.95. The firm has a market capitalization of $4.48 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 1.90 and a beta of 0.80. FMC Co. has a 52-week low of $32.83 and a 52-week high of $68.72. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.24 and a current ratio of 1.64.

FMC (NYSE:FMC) last posted its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.08 by $0.10. The business had revenue of $791.40 million during the quarter, compared to analyst estimates of $783.70 million. FMC had a net margin of 8.03% and a return on equity of 9.67%. The company’s quarterly revenue was down 13.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.36 EPS. Sell-side analysts expect that FMC Co. will post 3.48 earnings per share for the current year.

FMC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 17th. Investors of record on Monday, June 30th will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.32 dividend on an annualized basis and a yield of 6.47%. FMC’s payout ratio is 88.55%.

Insider Buying and Selling at FMC

In other FMC news, insider Ronaldo Pereira bought 5,600 shares of FMC stock in a transaction that occurred on Tuesday, March 4th. The shares were bought at an average cost of $35.77 per share, with a total value of $200,312.00. Following the transaction, the insider now directly owns 48,837 shares of the company’s stock, valued at approximately $1,746,899.49. This represents a 12.95 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carol Anthony Davidson purchased 6,000 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were acquired at an average price of $37.33 per share, for a total transaction of $223,980.00. Following the purchase, the director now directly owns 6,000 shares of the company’s stock, valued at approximately $223,980. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 0.67% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on FMC. Wells Fargo & Company lowered their price objective on shares of FMC from $43.00 to $41.00 and set an “equal weight” rating for the company in a research report on Monday, April 21st. Vertical Research raised shares of FMC to a “hold” rating in a report on Wednesday, February 5th. KeyCorp boosted their price objective on FMC from $49.00 to $53.00 and gave the stock an “overweight” rating in a research note on Friday. Citigroup lifted their target price on FMC from $55.00 to $61.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Finally, Bank of America reissued an “underperform” rating and set a $48.00 target price (down previously from $61.00) on shares of FMC in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $49.46.

FMC Company Profile

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.