Easterly Investment Partners LLC Has $16.03 Million Stock Holdings in FMC Corporation (NYSE:FMC)

Easterly Investment Partners LLC increased its stake in shares of FMC Corporation (NYSE:FMC) by 43.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 379,824 shares of the basic materials company’s stock after purchasing an additional 114,893 shares during the quarter. FMC makes up about 1.3% of Easterly Investment Partners LLC’s portfolio, making the stock its 16th largest holding. Easterly Investment Partners LLC owned about 0.30% of FMC worth $16,025,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC grew its holdings in FMC by 217.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 746 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 511 shares during the last quarter. Resona Asset Management Co. Ltd. bought a new stake in FMC during the 4th quarter worth approximately $37,000. Golden State Wealth Management LLC grew its holdings in FMC by 66.6% during the 1st quarter. Golden State Wealth Management LLC now owns 1,006 shares of the basic materials company’s stock worth $42,000 after acquiring an additional 402 shares during the last quarter. Central Pacific Bank Trust Division bought a new stake in FMC during the 1st quarter worth approximately $55,000. Finally, Canada Post Corp Registered Pension Plan bought a new stake in FMC during the 4th quarter worth approximately $62,000. 91.86% of the stock is currently owned by institutional investors and hedge funds.

FMC Stock Up 2.3%

FMC stock opened at $42.33 on Thursday. The company has a quick ratio of 1.12, a current ratio of 1.54 and a debt-to-equity ratio of 0.69. FMC Corporation has a 12-month low of $32.83 and a 12-month high of $68.55. The firm’s fifty day moving average is $41.29 and its 200 day moving average is $42.22. The company has a market capitalization of $5.29 billion, a PE ratio of 16.16, a PEG ratio of 1.25 and a beta of 0.77.

FMC (NYSE:FMC) last released its earnings results on Wednesday, April 30th. The basic materials company reported $0.18 earnings per share (EPS) for the quarter, beating 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 company had revenue of $791.40 million for the quarter, compared to the consensus estimate of $783.70 million. During the same quarter in the previous year, the company earned $0.36 EPS. FMC’s quarterly revenue was down 13.8% compared to the same quarter last year. As a group, sell-side analysts predict that FMC Corporation will post 3.48 EPS for the current fiscal year.

FMC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 16th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 5.48%. FMC’s payout ratio is 88.55%.

Analyst Upgrades and Downgrades

FMC has been the topic of a number of research reports. Mizuho raised shares of FMC from a “neutral” rating to an “outperform” rating and set a $49.00 target price on the stock in a report on Friday, April 25th. Barclays boosted their target price on shares of FMC from $48.00 to $49.00 and gave the stock an “overweight” rating in a report on Monday, July 7th. UBS Group upped their price objective on shares of FMC from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday, July 9th. Wall Street Zen raised shares of FMC from a “sell” rating to a “hold” rating in a research note on Saturday, June 14th. Finally, KeyCorp upped their price objective on shares of FMC from $53.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, FMC has a consensus rating of “Hold” and an average price target of $51.15.

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.