SVB Wealth LLC Lowers Holdings in FMC Co. (NYSE:FMC)

SVB Wealth LLC lessened its holdings in FMC Co. (NYSE:FMC) by 3.3% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,620 shares of the basic materials company’s stock after selling 192 shares during the period. SVB Wealth LLC’s holdings in FMC were worth $358,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Riverview Trust Co bought a new stake in shares of FMC during the 1st quarter valued at about $27,000. Financial Connections Group Inc. bought a new stake in FMC during the fourth quarter valued at approximately $31,000. Benjamin F. Edwards & Company Inc. grew its stake in FMC by 114.3% in 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. LRI Investments LLC bought a new position in shares of FMC in the 1st quarter worth $41,000. Finally, EverSource Wealth Advisors LLC raised 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 valued at $43,000 after buying an additional 612 shares in the last quarter. Institutional investors own 91.86% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on FMC. Barclays assumed coverage on FMC in a research note on Wednesday, June 26th. They issued an “equal weight” rating and a $62.00 target price on the stock. JPMorgan Chase & Co. reduced their price target on FMC from $53.00 to $50.00 and set a “neutral” rating on the stock in a research report on Monday, May 13th. Redburn Atlantic upgraded shares of FMC from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 19th. StockNews.com raised FMC from a “sell” rating to a “hold” rating in a research note on Wednesday, May 8th. Finally, Royal Bank of Canada increased their price target on shares of FMC from $65.00 to $81.00 and gave the stock an “outperform” rating in a research note on Friday, May 10th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $69.71.

FMC Stock Performance

NYSE:FMC traded down $1.65 during mid-day trading on Tuesday, hitting $57.65. 373,876 shares of the company traded hands, compared to its average volume of 1,923,991. FMC Co. has a one year low of $49.49 and a one year high of $96.81. The company has a quick ratio of 1.02, a current ratio of 1.46 and a debt-to-equity ratio of 0.70. The firm has a market cap of $7.20 billion, a price-to-earnings ratio of 6.62, a price-to-earnings-growth ratio of 1.41 and a beta of 0.84. The stock’s fifty day moving average price is $57.87 and its 200-day moving average price is $58.70.

FMC (NYSE:FMC) last released its earnings results on Monday, May 6th. The basic materials company reported $0.36 earnings per share for the quarter, beating 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 company had revenue of $918.00 million for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the company earned $1.77 EPS. FMC’s revenue for the quarter was down 31.7% on a year-over-year basis. Research analysts anticipate that FMC Co. will post 3.43 earnings per share for the current fiscal year.

FMC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Monday, September 30th will be issued a $0.58 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $2.32 dividend on an annualized basis and a yield of 4.02%. FMC’s dividend payout ratio is currently 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.