FMC Co. (NYSE:FMC) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc grew its holdings in FMC Co. (NYSE:FMC) by 2.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,826 shares of the basic materials company’s stock after purchasing an additional 393 shares during the period. CIBC Asset Management Inc’s holdings in FMC were worth $867,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Ballentine Partners LLC increased its stake in shares of FMC by 43.6% in the third quarter. Ballentine Partners LLC now owns 8,770 shares of the basic materials company’s stock worth $578,000 after acquiring an additional 2,661 shares during the last quarter. Legacy Wealth Asset Management LLC increased its stake in shares of FMC by 111.5% in the third quarter. Legacy Wealth Asset Management LLC now owns 9,100 shares of the basic materials company’s stock worth $600,000 after acquiring an additional 4,798 shares during the last quarter. Convergence Financial LLC increased its stake in shares of FMC by 44.5% in the third quarter. Convergence Financial LLC now owns 9,813 shares of the basic materials company’s stock worth $647,000 after acquiring an additional 3,021 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of FMC by 70.5% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,338 shares of the basic materials company’s stock worth $617,000 after acquiring an additional 3,862 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of FMC by 149.2% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 42,966 shares of the basic materials company’s stock worth $2,833,000 after acquiring an additional 25,722 shares during the last quarter. Hedge funds and other institutional investors own 91.86% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on FMC. Redburn Atlantic downgraded shares of FMC from a “buy” rating to a “neutral” rating and set a $49.00 target price on the stock. in a research report on Friday, February 14th. Royal Bank of Canada downgraded shares of FMC from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $78.00 to $47.00 in a research report on Wednesday, February 5th. Barclays lowered their target price on shares of FMC from $65.00 to $48.00 and set an “overweight” rating on the stock in a research report on Friday, February 7th. Vertical Research raised shares of FMC to a “hold” rating in a research report on Wednesday, February 5th. Finally, Morgan Stanley lowered their target price on shares of FMC from $70.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $52.23.

FMC Stock Up 0.3 %

NYSE FMC opened at $38.30 on Friday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.24 and a current ratio of 1.64. The firm has a 50-day simple moving average of $47.97 and a 200 day simple moving average of $56.76. FMC Co. has a twelve month low of $33.80 and a twelve month high of $68.72. The stock has a market cap of $4.78 billion, a PE ratio of 14.08, a PEG ratio of 1.90 and a beta of 0.84.

FMC (NYSE:FMC) last announced its quarterly earnings results on Tuesday, February 4th. The basic materials company reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.14. FMC had a net margin of 8.03% and a return on equity of 9.67%. On average, research analysts forecast that FMC Co. will post 3.48 EPS for the current year.

FMC Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a yield of 6.06%. The ex-dividend date of this dividend was Tuesday, December 31st. FMC’s dividend payout ratio is 85.29%.

Insiders Place Their Bets

In other news, EVP Michael Finian Reilly sold 2,958 shares of the firm’s stock in a transaction that occurred on Thursday, January 23rd. The shares were sold at an average price of $55.25, for a total transaction of $163,429.50. Following the completion of the sale, the executive vice president now owns 25,468 shares of the company’s stock, valued at approximately $1,407,107. This trade represents a 10.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.85% of the company’s stock.

FMC Company 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.