Picton Mahoney Asset Management Acquires New Shares in FMC Co. (NYSE:FMC)

Picton Mahoney Asset Management bought a new position in shares of FMC Co. (NYSE:FMC) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 6,930 shares of the basic materials company’s stock, valued at approximately $437,000.

Other institutional investors have also added to or reduced their stakes in the company. CVA Family Office LLC purchased a new stake in shares of FMC in the 4th quarter worth approximately $31,000. Financial Connections Group Inc. bought a new stake in FMC during the 4th quarter valued at $31,000. Quintet Private Bank Europe S.A. bought a new stake in FMC during the 3rd quarter valued at $33,000. Spire Wealth Management increased its holdings in shares of FMC by 143.1% in the 3rd quarter. Spire Wealth Management now owns 508 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 299 shares during the period. Finally, Parkside Financial Bank & Trust raised its position in shares of FMC by 50.0% in the 3rd quarter. Parkside Financial Bank & Trust now owns 684 shares of the basic materials company’s stock worth $46,000 after acquiring an additional 228 shares in the last quarter. Hedge funds and other institutional investors own 91.86% of the company’s stock.

Insider Buying and Selling at FMC

In related news, CFO Andrew D. Sandifer purchased 2,150 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was bought at an average cost of $59.22 per share, with a total value of $127,323.00. Following the completion of the acquisition, the chief financial officer now owns 50,088 shares of the company’s stock, valued at approximately $2,966,211.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.81% of the company’s stock.

FMC Trading Down 2.9 %

FMC stock opened at $64.83 on Thursday. FMC Co. has a 52 week low of $49.49 and a 52 week high of $112.10. The stock has a 50-day moving average price of $60.99 and a 200 day moving average price of $57.84. The company has a quick ratio of 1.01, a current ratio of 1.52 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $8.09 billion, a price-to-earnings ratio of 6.16, a price-to-earnings-growth ratio of 1.99 and a beta of 0.88.

FMC (NYSE:FMC) last announced its quarterly earnings data on Monday, May 6th. The basic materials company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.35 by $0.01. The business had revenue of $918.00 million during the quarter, compared to analysts’ expectations of $1.01 billion. FMC had a net margin of 29.45% and a return on equity of 12.98%. The business’s quarterly revenue was down 31.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.77 EPS. Sell-side analysts anticipate that FMC Co. will post 3.88 EPS for the current year.

FMC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Friday, June 28th will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 3.58%. The ex-dividend date of this dividend is Friday, June 28th. FMC’s dividend payout ratio is currently 22.03%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on FMC. UBS Group raised FMC from a “neutral” rating to a “buy” rating and raised their price objective for the company from $61.00 to $84.00 in a research report on Wednesday, March 20th. Bank of America downgraded shares of FMC from a “neutral” rating to an “underperform” rating and cut their price objective for the stock from $60.00 to $57.00 in a research report on Tuesday, January 16th. Loop Capital increased their target price on shares of FMC from $55.00 to $65.00 and gave the company a “hold” rating in a research report on Tuesday, March 19th. Mizuho raised their target price on shares of FMC from $55.00 to $57.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Wells Fargo & Company upped their price target on FMC from $65.00 to $68.00 and gave the stock an “equal weight” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $71.69.

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.