Comerica Bank Sells 6,971 Shares of FMC Co. (NYSE:FMC)

Comerica Bank lessened its position in FMC Co. (NYSE:FMC - Free Report) by 13.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 44,018 shares of the basic materials company's stock after selling 6,971 shares during the period. Comerica Bank's holdings in FMC were worth $2,140,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of FMC. Golden State Wealth Management LLC acquired a new position in FMC during the fourth quarter worth approximately $29,000. EverSource Wealth Advisors LLC raised its stake in FMC by 217.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 746 shares of the basic materials company's stock valued at $36,000 after acquiring an additional 511 shares during the period. Resona Asset Management Co. Ltd. acquired a new stake in FMC during the 4th quarter valued at $37,000. Wilmington Savings Fund Society FSB bought a new position in FMC during the third quarter worth $58,000. Finally, IFP Advisors Inc increased its holdings in shares of FMC by 65.3% in the fourth quarter. IFP Advisors Inc now owns 959 shares of the basic materials company's stock valued at $47,000 after purchasing an additional 379 shares during the last quarter. 91.86% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FMC has been the subject of several research analyst reports. Bank of America reaffirmed an "underperform" rating and set a $48.00 target price (down previously from $61.00) on shares of FMC in a report on Wednesday, February 5th. Vertical Research raised FMC to a "hold" rating in a research report on Wednesday, February 5th. KeyCorp lifted their price target on FMC from $49.00 to $53.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. The Goldman Sachs Group initiated coverage on FMC in a report on Thursday, March 13th. They issued a "buy" rating and a $51.00 price objective on the stock. Finally, BMO Capital Markets dropped their target price on FMC from $62.00 to $50.00 and set a "market perform" rating for the company in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $49.46.

Insider Transactions at FMC

In other news, insider Ronaldo Pereira bought 5,600 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was acquired at an average price of $35.77 per share, with a total value of $200,312.00. Following the transaction, the insider now owns 48,837 shares of the company's stock, valued at $1,746,899.49. This trade represents a 12.95 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carol Anthony Davidson purchased 6,000 shares of the company's stock in a transaction dated Wednesday, March 5th. The stock was purchased at an average price of $37.33 per share, for a total transaction of $223,980.00. Following the transaction, the director now directly owns 6,000 shares in the company, valued at approximately $223,980. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 0.67% of the stock is owned by company insiders.

FMC Stock Up 0.5 %

Shares of FMC opened at $36.80 on Friday. The firm has a 50 day simple moving average of $39.39 and a two-hundred day simple moving average of $47.42. The company has a market cap of $4.60 billion, a P/E ratio of 13.53, a P/E/G ratio of 1.90 and a beta of 0.80. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.64 and a quick ratio of 1.24. FMC Co. has a one year low of $32.83 and a one year high of $68.72.

FMC (NYSE:FMC - Get Free Report) last posted its earnings results on Wednesday, April 30th. The basic materials company reported $0.18 earnings per share for the quarter, topping analysts' consensus estimates of $0.08 by $0.10. The firm had revenue of $791.40 million for the quarter, compared to analysts' expectations of $783.70 million. FMC had a net margin of 8.03% and a return on equity of 9.67%. The company's revenue was down 13.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.36 earnings per share. Research analysts forecast that FMC Co. will post 3.48 EPS for the current fiscal year.

FMC Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 17th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 6.30%. The ex-dividend date of this dividend is Monday, June 30th. FMC's payout ratio is currently 88.55%.

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.

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