Kornitzer Capital Management Inc. KS Lowers Holdings in FMC Co. (NYSE:FMC)

Kornitzer Capital Management Inc. KS trimmed its position in FMC Co. (NYSE:FMC) by 2.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,368 shares of the basic materials company’s stock after selling 495 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in FMC were worth $1,115,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Norden Group LLC acquired a new position in FMC during the 1st quarter valued at about $4,700,000. Leeward Investments LLC MA boosted its stake in shares of FMC by 62.8% in the first quarter. Leeward Investments LLC MA now owns 193,156 shares of the basic materials company’s stock worth $12,304,000 after acquiring an additional 74,529 shares during the last quarter. S&CO Inc. boosted its stake in shares of FMC by 6.7% in the fourth quarter. S&CO Inc. now owns 235,126 shares of the basic materials company’s stock worth $14,824,000 after acquiring an additional 14,710 shares during the last quarter. Invenomic Capital Management LP acquired a new position in FMC during the fourth quarter worth $18,815,000. Finally, SG Americas Securities LLC boosted its stake in FMC by 396.9% during the first quarter. SG Americas Securities LLC now owns 70,268 shares of the basic materials company’s stock worth $4,476,000 after buying an additional 56,128 shares during the last quarter. 91.86% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. lifted their target price on FMC from $50.00 to $59.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. Royal Bank of Canada upped their price objective on FMC from $65.00 to $81.00 and gave the stock an “outperform” rating in a research report on Friday, May 10th. Redburn Atlantic raised FMC from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 19th. KeyCorp decreased their price objective on FMC from $81.00 to $79.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Finally, Wells Fargo & Company cut their target price on FMC from $68.00 to $62.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, FMC has a consensus rating of “Hold” and a consensus price target of $68.63.

FMC Trading Down 3.8 %

Shares of NYSE:FMC opened at $60.27 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.07 and a debt-to-equity ratio of 0.66. FMC Co. has a 1 year low of $49.49 and a 1 year high of $81.50. The firm has a fifty day moving average price of $60.48 and a 200 day moving average price of $60.05. The stock has a market capitalization of $7.52 billion, a PE ratio of 6.73, a P/E/G ratio of 1.60 and a beta of 0.85.

FMC (NYSE:FMC) last announced its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.08. FMC had a net margin of 33.97% and a return on equity of 7.52%. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the business earned $0.50 earnings per share. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. Analysts expect that FMC Co. will post 3.41 EPS for the current fiscal year.

FMC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.58 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $2.32 annualized dividend and a dividend yield of 3.85%. FMC’s dividend payout ratio (DPR) is currently 25.89%.

FMC 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.