Concentric Capital Strategies LP Invests $2.56 Million in FMC Co. (NYSE:FMC)

Concentric Capital Strategies LP acquired a new stake in FMC Co. (NYSE:FMC - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The fund acquired 52,584 shares of the basic materials company's stock, valued at approximately $2,556,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Golden State Wealth Management LLC purchased a new position in shares of FMC in the fourth quarter valued at $29,000. EverSource Wealth Advisors LLC grew its holdings in FMC by 217.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 746 shares of the basic materials company's stock valued at $36,000 after buying an additional 511 shares in the last quarter. Resona Asset Management Co. Ltd. purchased a new position in FMC during the fourth quarter valued at approximately $37,000. IFP Advisors Inc increased its holdings in FMC by 65.3% during the 4th quarter. IFP Advisors Inc now owns 959 shares of the basic materials company's stock worth $47,000 after acquiring an additional 379 shares during the period. Finally, Principal Securities Inc. lifted its stake in FMC by 34.7% in the 4th quarter. Principal Securities Inc. now owns 990 shares of the basic materials company's stock worth $48,000 after purchasing an additional 255 shares in the last quarter. Institutional investors own 91.86% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on FMC shares. Bank of America reaffirmed an "underperform" rating and issued a $48.00 price target (down previously from $61.00) on shares of FMC in a report on Wednesday, February 5th. Mizuho raised FMC from a "neutral" rating to an "outperform" rating and set a $49.00 price target on the stock in a report on Friday, April 25th. Barclays cut their price objective on FMC from $65.00 to $48.00 and set an "overweight" rating for the company in a report on Friday, February 7th. UBS Group raised their target price on shares of FMC from $38.00 to $41.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Finally, The Goldman Sachs Group assumed coverage on shares of FMC in a research note on Thursday, March 13th. They issued a "buy" rating and a $51.00 price target for the company. One analyst has rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, FMC presently has a consensus rating of "Hold" and a consensus target price of $49.46.

FMC Trading Up 0.5 %

FMC traded up $0.20 on Friday, hitting $36.80. 1,464,697 shares of the company were exchanged, compared to its average volume of 2,047,925. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.24 and a current ratio of 1.64. FMC Co. has a 12 month low of $32.83 and a 12 month high of $68.72. The firm has a fifty day simple moving average of $39.39 and a two-hundred day simple moving average of $47.32. The stock has a market capitalization of $4.60 billion, a PE ratio of 13.53, a price-to-earnings-growth ratio of 1.90 and a beta of 0.80.

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

FMC Announces Dividend

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

Insider Buying and Selling at FMC

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

FMC 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.