Gabelli Funds LLC Sells 19,000 Shares of FMC Co. (NYSE:FMC)

Gabelli Funds LLC lessened its stake in FMC Co. (NYSE:FMC) by 28.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 47,200 shares of the basic materials company’s stock after selling 19,000 shares during the quarter. Gabelli Funds LLC’s holdings in FMC were worth $3,007,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Riverview Trust Co purchased a new stake in shares of FMC in the first quarter valued at approximately $27,000. Financial Connections Group Inc. acquired a new position in shares of FMC during the 4th quarter worth approximately $31,000. Benjamin F. Edwards & Company Inc. increased its stake in 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 buying an additional 303 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in shares of FMC by 827.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 686 shares of the basic materials company’s stock worth $43,000 after buying an additional 612 shares in the last quarter. Finally, Sentry Investment Management LLC purchased a new position in FMC during the first quarter worth approximately $45,000. Hedge funds and other institutional investors own 91.86% of the company’s stock.

Analyst Ratings Changes

FMC has been the topic of several research analyst reports. KeyCorp boosted their price objective on FMC from $79.00 to $81.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th. Mizuho lifted their target price on shares of FMC from $55.00 to $57.00 and gave the company a “neutral” rating in a report on Tuesday, May 7th. Royal Bank of Canada increased their target price on shares of FMC from $65.00 to $81.00 and gave the company an “outperform” rating in a report on Friday, May 10th. StockNews.com raised FMC from a “sell” rating to a “hold” rating in a research note on Wednesday, May 8th. Finally, Redburn Atlantic raised FMC from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 19th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $69.71.

FMC Stock Performance

Shares of NYSE:FMC traded up $0.66 on Friday, reaching $59.60. 1,092,191 shares of the company’s stock were exchanged, compared to its average volume of 1,407,324. 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 company has a market capitalization of $7.44 billion, a price-to-earnings ratio of 6.65, a PEG ratio of 1.41 and a beta of 0.84. The company has a fifty day moving average of $57.96 and a 200-day moving average of $58.71. FMC Co. has a twelve month low of $49.49 and a twelve month high of $96.81.

FMC (NYSE:FMC) last announced its quarterly earnings results on Monday, May 6th. The basic materials company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. FMC had a return on equity of 7.68% and a net margin of 27.65%. The firm had revenue of $918.00 million for the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the firm posted $1.77 earnings per share. The business’s revenue for the quarter was down 31.7% on a year-over-year basis. On average, research analysts predict that FMC Co. will post 3.43 EPS for the current fiscal year.

FMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Monday, September 30th will be issued a dividend of $0.58 per share. The ex-dividend date is Monday, September 30th. This represents a $2.32 dividend on an annualized basis and a yield of 3.89%. FMC’s dividend payout ratio (DPR) is 25.89%.

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.