FMC Co. (NYSE:FMC) Holdings Cut by Wesbanco Bank Inc.

Wesbanco Bank Inc. lowered its position in shares of FMC Co. (NYSE:FMC) by 17.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 6,375 shares of the basic materials company’s stock after selling 1,353 shares during the period. Wesbanco Bank Inc.’s holdings in FMC were worth $420,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Legacy Wealth Asset Management LLC boosted its holdings in FMC by 4.6% during the first quarter. Legacy Wealth Asset Management LLC now owns 4,007 shares of the basic materials company’s stock worth $255,000 after buying an additional 175 shares in the last quarter. Taylor Frigon Capital Management LLC lifted its stake in shares of FMC by 1.5% in the first quarter. Taylor Frigon Capital Management LLC now owns 12,581 shares of the basic materials company’s stock worth $801,000 after buying an additional 183 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its holdings in FMC by 27.7% during the first quarter. Massmutual Trust Co. FSB ADV now owns 866 shares of the basic materials company’s stock valued at $55,000 after acquiring an additional 188 shares during the period. Dark Forest Capital Management LP boosted its stake in 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 period. Finally, HB Wealth Management LLC grew its stake in shares of FMC by 3.8% in the second quarter. HB Wealth Management LLC now owns 5,649 shares of the basic materials company’s stock worth $325,000 after acquiring an additional 208 shares during the last quarter. Institutional investors and hedge funds own 91.86% of the company’s stock.

Analysts Set New Price Targets

FMC has been the subject of a number of recent research reports. BMO Capital Markets increased their price objective on shares of FMC from $60.00 to $65.00 and gave the company a “market perform” rating in a research note on Friday, August 2nd. Redburn Atlantic raised FMC from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 19th. Wells Fargo & Company dropped their price target on shares of FMC from $68.00 to $62.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. JPMorgan Chase & Co. increased their target price on FMC from $50.00 to $59.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. Finally, Barclays boosted their price target on shares of FMC from $62.00 to $65.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, FMC currently has a consensus rating of “Hold” and a consensus target price of $66.64.

FMC Stock Performance

NYSE FMC opened at $62.73 on Thursday. The company has a quick ratio of 1.07, a current ratio of 1.48 and a debt-to-equity ratio of 0.66. FMC Co. has a 12-month low of $49.49 and a 12-month high of $68.72. The firm has a market cap of $7.83 billion, a P/E ratio of 7.00, a price-to-earnings-growth ratio of 1.53 and a beta of 0.85. The company’s 50 day moving average is $63.22 and its 200-day moving average is $60.68.

FMC (NYSE:FMC) last released its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.63 EPS for the quarter, topping 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 analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the company earned $0.50 EPS. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. Sell-side analysts predict that FMC Co. will post 3.4 earnings per share for the current year.

FMC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Monday, September 30th will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date is Monday, September 30th. FMC’s payout ratio is presently 25.89%.

About FMC

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.