State of New Jersey Common Pension Fund D Decreases Holdings in FMC Co. (NYSE:FMC)

State of New Jersey Common Pension Fund D decreased its position in shares of FMC Co. (NYSE:FMC) by 37.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 45,174 shares of the basic materials company’s stock after selling 26,889 shares during the period. State of New Jersey Common Pension Fund D’s holdings in FMC were worth $2,600,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of FMC. Norden Group LLC purchased a new position in shares of FMC in the first quarter worth $4,700,000. Leeward Investments LLC MA raised its holdings 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 buying an additional 74,529 shares during the last quarter. S&CO Inc. raised its holdings 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 buying an additional 14,710 shares during the last quarter. Invenomic Capital Management LP purchased a new position in shares of FMC in the fourth quarter worth $18,815,000. Finally, SG Americas Securities LLC raised its holdings in shares of FMC by 396.9% in 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. Hedge funds and other institutional investors own 91.86% of the company’s stock.

Wall Street Analyst Weigh In

FMC has been the subject of a number of research analyst reports. Barclays raised their price target on shares of FMC from $62.00 to $65.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. KeyCorp decreased their price target on shares of FMC from $81.00 to $79.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Wells Fargo & Company reduced their target price on shares of FMC from $68.00 to $62.00 and set an “equal weight” rating for the company in a report on Tuesday, July 16th. JPMorgan Chase & Co. raised their target price on shares of FMC from $50.00 to $59.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Finally, Redburn Atlantic raised shares of FMC from a “hold” rating to a “strong-buy” rating in a report on Friday, July 19th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $68.63.

FMC Stock Up 0.3 %

FMC stock opened at $63.50 on Thursday. The firm has a market cap of $7.93 billion, a PE ratio of 7.09, a P/E/G ratio of 1.52 and a beta of 0.85. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.07 and a current ratio of 1.48. The firm’s fifty day moving average is $61.41 and its 200 day moving average is $60.61. FMC Co. has a one year low of $49.49 and a one year high of $74.04.

FMC (NYSE:FMC) last announced its earnings results on Wednesday, July 31st. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the business earned $0.50 earnings per share. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, research analysts forecast that FMC Co. will post 3.41 EPS for the current year.

FMC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Monday, September 30th will be given a $0.58 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $2.32 annualized dividend and a dividend yield of 3.65%. FMC’s dividend payout ratio (DPR) is 25.89%.

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.