State of Wisconsin Investment Board Reduces Holdings in FMC Corp (FMC)

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State of Wisconsin Investment Board decreased its position in shares of FMC Corp (NYSE:FMC) by 8.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 121,542 shares of the basic materials company’s stock after selling 10,869 shares during the quarter. State of Wisconsin Investment Board owned approximately 0.09% of FMC worth $10,843,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the business. Tredje AP fonden grew its holdings in shares of FMC by 10.6% during the first quarter. Tredje AP fonden now owns 6,060 shares of the basic materials company’s stock worth $465,000 after purchasing an additional 580 shares during the last quarter. Moors & Cabot Inc. grew its holdings in shares of FMC by 9.4% during the first quarter. Moors & Cabot Inc. now owns 6,966 shares of the basic materials company’s stock worth $533,000 after purchasing an additional 601 shares during the last quarter. Cetera Advisor Networks LLC grew its holdings in shares of FMC by 27.4% during the first quarter. Cetera Advisor Networks LLC now owns 2,853 shares of the basic materials company’s stock worth $219,000 after purchasing an additional 614 shares during the last quarter. D.A. Davidson & CO. grew its holdings in shares of FMC by 8.6% during the first quarter. D.A. Davidson & CO. now owns 8,038 shares of the basic materials company’s stock worth $615,000 after purchasing an additional 635 shares during the last quarter. Finally, Manning & Napier Group LLC grew its holdings in shares of FMC by 2.6% during the second quarter. Manning & Napier Group LLC now owns 25,290 shares of the basic materials company’s stock worth $2,255,000 after purchasing an additional 645 shares during the last quarter. 87.48% of the stock is currently owned by institutional investors.

In other FMC news, COO Mark Douglas acquired 4,250 shares of the stock in a transaction on Tuesday, August 14th. The shares were bought at an average price of $86.13 per share, with a total value of $366,052.50. Following the acquisition, the chief operating officer now owns 59,943 shares of the company’s stock, valued at $5,162,890.59. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Paul W. Graves sold 3,615 shares of FMC stock in a transaction that occurred on Wednesday, June 6th. The shares were sold at an average price of $88.46, for a total value of $319,782.90. Following the completion of the sale, the insider now directly owns 89,612 shares in the company, valued at approximately $7,927,077.52. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.

Several brokerages have issued reports on FMC. Zacks Investment Research lowered FMC from a “buy” rating to a “hold” rating in a report on Thursday, July 19th. Nomura raised their price objective on FMC from $100.00 to $106.00 and gave the stock a “buy” rating in a report on Wednesday, July 11th. Credit Suisse Group set a $107.00 price objective on FMC and gave the stock a “buy” rating in a report on Tuesday, June 12th. Goldman Sachs Group raised FMC from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $98.70 to $98.00 in a report on Monday, May 14th. Finally, Bank of America set a $100.00 price target on FMC and gave the stock a “buy” rating in a report on Friday, May 4th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $101.93.

NYSE FMC opened at $84.44 on Monday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.24 and a current ratio of 1.63. FMC Corp has a 52-week low of $72.73 and a 52-week high of $98.70. The stock has a market cap of $11.82 billion, a P/E ratio of 31.16, a P/E/G ratio of 0.79 and a beta of 1.60.

FMC (NYSE:FMC) last released its quarterly earnings results on Wednesday, August 1st. The basic materials company reported $1.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.72 by $0.06. FMC had a return on equity of 27.12% and a net margin of 23.96%. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same quarter last year, the company posted $0.48 earnings per share. The business’s revenue was up 92.2% on a year-over-year basis. analysts predict that FMC Corp will post 6.06 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 18th. Investors of record on Friday, September 28th will be issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date of this dividend is Thursday, September 27th. FMC’s dividend payout ratio is currently 24.35%.

FMC Company Profile

FMC Corporation, a diversified chemical company, provides solutions, applications, and products for the agricultural, consumer, and industrial markets worldwide. The company operates in two segments, FMC Agricultural Solutions and FMC Lithium. The FMC Agricultural Solutions segment develops, manufactures, markets, and sells crop protection chemicals, including insecticides, herbicides, and fungicides that 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.

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Institutional Ownership by Quarter for FMC (NYSE:FMC)

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