Meeder Asset Management Inc. Buys New Stake in FMC Co. (NYSE:FMC)

Meeder Asset Management Inc. bought a new stake in FMC Co. (NYSE:FMC) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 1,107 shares of the basic materials company’s stock, valued at approximately $71,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Riverview Trust Co acquired a new position in shares of FMC in the first quarter worth $27,000. CVA Family Office LLC purchased a new stake in shares of FMC during the 4th quarter worth $31,000. Financial Connections Group Inc. purchased a new stake in shares of FMC during the 4th quarter worth $31,000. Benjamin F. Edwards & Company Inc. lifted its position in shares of FMC by 114.3% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 568 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 303 shares during the last quarter. Finally, EverSource Wealth Advisors LLC lifted its position in shares of FMC by 827.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 686 shares of the basic materials company’s stock worth $43,000 after purchasing an additional 612 shares during the last quarter. Institutional investors and hedge funds own 91.86% of the company’s stock.

FMC Stock Performance

Shares of FMC stock traded up $0.65 on Monday, reaching $58.06. 1,155,536 shares of the stock were exchanged, compared to its average volume of 1,963,807. FMC Co. has a 1-year low of $49.49 and a 1-year high of $97.45. The company has a current ratio of 1.46, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70. The business has a fifty day moving average price of $59.19 and a two-hundred day moving average price of $58.88. The firm has a market capitalization of $7.25 billion, a PE ratio of 6.48, a PEG ratio of 1.32 and a beta of 0.84.

FMC (NYSE:FMC) last issued its quarterly earnings results on Monday, May 6th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. FMC had a net margin of 27.65% and a return on equity of 7.68%. The business had revenue of $918.00 million for the quarter, compared to analyst estimates of $1.01 billion. During the same period in the previous year, the business posted $1.77 earnings per share. The business’s revenue was down 31.7% compared to the same quarter last year. As a group, research analysts anticipate that FMC Co. will post 3.53 earnings per share for the current fiscal year.

FMC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Friday, June 28th will be given a dividend of $0.58 per share. The ex-dividend date is Friday, June 28th. This represents a $2.32 annualized dividend and a yield of 4.00%. FMC’s payout ratio is currently 25.89%.

Analyst Upgrades and Downgrades

FMC has been the subject of several recent analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of FMC from $53.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, May 13th. Barclays initiated coverage on shares of FMC in a research report on Wednesday, June 26th. They set an “equal weight” rating and a $62.00 price objective for the company. StockNews.com raised shares of FMC from a “sell” rating to a “hold” rating in a research report on Wednesday, May 8th. KeyCorp boosted their price target on shares of FMC from $79.00 to $81.00 and gave the company an “overweight” rating in a research report on Wednesday, May 8th. Finally, UBS Group raised shares of FMC from a “neutral” rating to a “buy” rating and boosted their price target for the company from $61.00 to $84.00 in a research report on Wednesday, March 20th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, FMC currently has an average rating of “Hold” and a consensus price target of $70.06.

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.