State of Alaska Department of Revenue Buys 119,930 Shares of FMC Corporation (NYSE:FMC)

State of Alaska Department of Revenue lifted its stake in FMC Corporation (NYSE:FMC) by 842.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 134,170 shares of the basic materials company’s stock after acquiring an additional 119,930 shares during the period. State of Alaska Department of Revenue owned 0.11% of FMC worth $5,660,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of FMC in the fourth quarter worth $49,888,000. Invesco Ltd. raised its holdings in FMC by 37.8% in the 4th quarter. Invesco Ltd. now owns 3,559,107 shares of the basic materials company’s stock worth $173,008,000 after acquiring an additional 977,110 shares during the period. Dimensional Fund Advisors LP lifted its position in FMC by 44.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,286,177 shares of the basic materials company’s stock worth $111,131,000 after acquiring an additional 707,727 shares during the last quarter. Bank of New York Mellon Corp lifted its position in FMC by 48.9% during the 4th quarter. Bank of New York Mellon Corp now owns 2,088,235 shares of the basic materials company’s stock worth $101,509,000 after acquiring an additional 685,995 shares during the last quarter. Finally, Balyasny Asset Management L.P. boosted its holdings in FMC by 762.4% during the fourth quarter. Balyasny Asset Management L.P. now owns 484,040 shares of the basic materials company’s stock valued at $23,529,000 after acquiring an additional 427,915 shares during the period. 91.86% of the stock is owned by institutional investors.

FMC Price Performance

NYSE:FMC opened at $41.62 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.12 and a current ratio of 1.54. The company has a 50-day moving average of $39.67 and a 200-day moving average of $43.58. FMC Corporation has a 52 week low of $32.83 and a 52 week high of $68.55. The company has a market capitalization of $5.20 billion, a price-to-earnings ratio of 15.88, a PEG ratio of 1.26 and a beta of 0.76.

FMC (NYSE:FMC) last announced its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.10. FMC had a net margin of 7.97% and a return on equity of 9.12%. The firm had revenue of $791.40 million during the quarter, compared to analysts’ expectations of $783.70 million. During the same quarter last year, the company earned $0.36 earnings per share. The company’s revenue for the quarter was down 13.8% compared to the same quarter last year. As a group, equities research analysts anticipate that FMC Corporation will post 3.48 earnings per share for the current fiscal year.

FMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 17th. Shareholders of record on Monday, June 30th will be paid a dividend of $0.58 per share. The ex-dividend date is Monday, June 30th. This represents a $2.32 annualized dividend and a yield of 5.57%. FMC’s dividend payout ratio is currently 88.55%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on FMC. Wall Street Zen raised FMC from a “sell” rating to a “hold” rating in a research report on Saturday, June 14th. KeyCorp lifted their price target on FMC from $49.00 to $53.00 and gave the stock an “overweight” rating in a research report on Friday, May 2nd. UBS Group upped their price target on FMC from $38.00 to $41.00 and gave the stock a “neutral” rating in a report on Thursday, May 1st. The Goldman Sachs Group started coverage on shares of FMC in a research note on Thursday, March 13th. They issued a “buy” rating and a $51.00 price objective on the stock. Finally, Wells Fargo & Company dropped their target price on shares of FMC from $43.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Monday, April 21st. One analyst has rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, FMC presently has an average rating of “Hold” and an average target price of $49.46.

FMC 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.