Algert Global LLC Invests $1.55 Million in FMC Co. (NYSE:FMC)

Algert Global LLC purchased a new position in shares of FMC Co. (NYSE:FMC) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 26,902 shares of the basic materials company’s stock, valued at approximately $1,548,000.

Other large investors have also added to or reduced their stakes in the company. Legacy Wealth Asset Management LLC grew its stake in shares of FMC by 4.6% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 4,007 shares of the basic materials company’s stock valued at $255,000 after buying an additional 175 shares during the period. Taylor Frigon Capital Management LLC lifted its holdings in FMC by 1.5% during the 1st quarter. Taylor Frigon Capital Management LLC now owns 12,581 shares of the basic materials company’s stock worth $801,000 after purchasing an additional 183 shares in the last quarter. Wahed Invest LLC increased its stake in FMC by 9.5% in the 4th quarter. Wahed Invest LLC now owns 2,131 shares of the basic materials company’s stock worth $134,000 after acquiring an additional 184 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its position in shares of FMC by 27.7% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 866 shares of the basic materials company’s stock valued at $55,000 after purchasing an additional 188 shares during the last quarter. Finally, Dark Forest Capital Management LP increased its position in shares of FMC by 3.1% during the 2nd quarter. Dark Forest Capital Management LP now owns 6,465 shares of the basic materials company’s stock valued at $372,000 after purchasing an additional 192 shares during the last quarter. Institutional investors and hedge funds own 91.86% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on FMC. BMO Capital Markets raised their price target on FMC from $60.00 to $65.00 and gave the stock a “market perform” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. raised their price objective on FMC from $50.00 to $59.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. KeyCorp reduced 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. Redburn Atlantic raised FMC from a “hold” rating to a “strong-buy” rating in a report on Friday, July 19th. Finally, Wells Fargo & Company cut their price objective on FMC from $68.00 to $62.00 and set an “equal weight” rating for the company in a report on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $68.47.

FMC Stock Performance

Shares of FMC stock opened at $64.01 on Friday. The business has a 50-day moving average of $62.87 and a 200 day moving average of $60.76. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.48 and a quick ratio of 1.07. The stock has a market capitalization of $7.99 billion, a price-to-earnings ratio of 7.14, a price-to-earnings-growth ratio of 1.57 and a beta of 0.85. FMC Co. has a 12 month low of $49.49 and a 12 month high of $68.72.

FMC (NYSE:FMC) last issued its earnings results on Wednesday, July 31st. The basic materials company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.08. FMC had a return on equity of 7.52% and a net margin of 33.97%. 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 company earned $0.50 EPS. The business’s quarterly revenue was up 2.4% on a year-over-year basis. As a group, sell-side analysts forecast that FMC Co. will post 3.41 earnings per share for the current year.

FMC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Monday, September 30th will be paid 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 3.62%. FMC’s dividend payout ratio (DPR) is currently 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.