Hedges Asset Management LLC Has $1.37 Million Stock Position in FMC Corporation (NYSE:FMC)

Hedges Asset Management LLC increased its position in shares of FMC Corporation (NYSE:FMC) by 62.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,400 shares of the basic materials company’s stock after acquiring an additional 12,400 shares during the quarter. Hedges Asset Management LLC’s holdings in FMC were worth $1,367,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Norges Bank bought a new stake in FMC during the 4th quarter worth about $49,888,000. Invesco Ltd. raised its stake in shares of FMC by 37.8% during the fourth quarter. Invesco Ltd. now owns 3,559,107 shares of the basic materials company’s stock worth $173,008,000 after buying an additional 977,110 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of FMC by 44.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,286,177 shares of the basic materials company’s stock worth $111,131,000 after buying an additional 707,727 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in FMC by 48.9% in the fourth quarter. Bank of New York Mellon Corp now owns 2,088,235 shares of the basic materials company’s stock valued at $101,509,000 after buying an additional 685,995 shares during the period. Finally, Balyasny Asset Management L.P. boosted its stake in FMC by 762.4% in 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 last quarter. Institutional investors and hedge funds own 91.86% of the company’s stock.

FMC Price Performance

NYSE FMC opened at $43.17 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 stock has a market cap of $5.39 billion, a price-to-earnings ratio of 16.48, a PEG ratio of 1.27 and a beta of 0.76. The business has a 50 day simple moving average of $40.16 and a 200 day simple moving average of $43.04. FMC Corporation has a 52-week low of $32.83 and a 52-week high of $68.55.

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

FMC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 17th. Stockholders of record on Monday, June 30th will be issued a $0.58 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 5.37%. FMC’s dividend payout ratio (DPR) is 88.55%.

Wall Street Analyst Weigh In

Several analysts have commented on FMC shares. Mizuho upgraded shares of FMC from a “neutral” rating to an “outperform” rating and set a $49.00 target price for the company in a research report on Friday, April 25th. The Goldman Sachs Group began coverage on FMC in a report on Thursday, March 13th. They issued a “buy” rating and a $51.00 price objective for the company. Wells Fargo & Company raised FMC from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $41.00 to $50.00 in a research note on Monday. Wall Street Zen upgraded FMC from a “sell” rating to a “hold” rating in a research report on Saturday, June 14th. Finally, KeyCorp increased their price target on shares of FMC from $49.00 to $53.00 and gave the company an “overweight” rating in a research report on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, FMC presently has an average rating of “Hold” and an average target price of $50.15.

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.