Wellington Management Group LLP Purchases 138,098 Shares of FMC Corporation $FMC

Wellington Management Group LLP boosted its holdings in shares of FMC Corporation (NYSE:FMC) by 142.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 235,089 shares of the basic materials company’s stock after purchasing an additional 138,098 shares during the period. Wellington Management Group LLP’s holdings in FMC were worth $2,704,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of FMC. Root Financial Partners LLC increased its stake in shares of FMC by 3,642.9% in the 1st quarter. Root Financial Partners LLC now owns 1,834 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 1,785 shares during the last quarter. Essential Partners LLC acquired a new stake in FMC in the first quarter valued at about $43,000. Parallel Advisors LLC boosted its stake in FMC by 297.2% in the first quarter. Parallel Advisors LLC now owns 6,264 shares of the basic materials company’s stock valued at $108,000 after buying an additional 4,687 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in FMC by 3,714.8% in the first quarter. EverSource Wealth Advisors LLC now owns 9,041 shares of the basic materials company’s stock valued at $156,000 after buying an additional 8,804 shares in the last quarter. Finally, Westport Asset Management Inc. bought a new position in FMC in the second quarter valued at about $172,000. Institutional investors own 91.86% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on FMC. Barclays raised FMC from a “strong sell” rating to a “hold” rating in a research note on Thursday, August 6th. BMO Capital Markets set a $14.00 price target on shares of FMC in a report on Friday, July 3rd. Mizuho set a $16.00 price objective on shares of FMC in a research report on Tuesday, July 14th. The Goldman Sachs Group reissued a “buy” rating and issued a $18.00 price objective on shares of FMC in a research note on Friday, July 31st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of FMC in a research report on Wednesday, August 26th. Three research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, FMC presently has an average rating of “Hold” and a consensus target price of $14.25.

FMC Trading Down 1.4%

FMC opened at $12.11 on Friday. The company has a debt-to-equity ratio of 2.38, a current ratio of 1.99 and a quick ratio of 1.48. FMC Corporation has a fifty-two week low of $9.94 and a fifty-two week high of $38.68. The company’s 50 day moving average price is $11.20 and its two-hundred day moving average price is $13.05. The firm has a market capitalization of $1.52 billion, a price-to-earnings ratio of -0.55 and a beta of 0.41.

FMC (NYSE:FMC) last released its quarterly earnings results on Wednesday, July 29th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.04. The firm had revenue of $841.40 million during the quarter, compared to the consensus estimate of $895.14 million. FMC had a negative net margin of 84.83% and a positive return on equity of 11.35%. The company’s revenue for the quarter was down 17.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.69 earnings per share. As a group, research analysts predict that FMC Corporation will post 1.27 earnings per share for the current year.

FMC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Wednesday, September 30th. FMC’s dividend payout ratio (DPR) is currently -1.45%.

FMC Profile

FMC Corporation is a global agricultural sciences company specializing in the development, manufacture and marketing of crop protection products. Its portfolio includes herbicides, insecticides, fungicides and plant nutrition solutions designed to enhance crop yield, quality and sustainability. In addition to core crop protection, FMC delivers solutions for turf management and pest control in urban and industrial environments.

Founded in 1883 as the Bean Spray Pump Company and later known as Food Machinery Corporation, the business adopted the FMC name in 1948 and has since evolved through strategic acquisitions and divestitures.