738,930 Shares in FMC Corporation $FMC Purchased by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 738,930 FMC shares worth approximately $8.5 million, giving it a 0.59% stake. Institutional investors collectively own 91.86% of the company.
• FMC reported quarterly EPS of $0.26, exceeding estimates of $0.22, but revenue fell 17.5% year over year to $841.4 million, below analyst expectations.
• Analysts maintain a consensus “Hold” rating with an average price target of $14.25, while FMC announced a quarterly dividend of $0.08 per share, representing a 2.4% yield.

Bank of New York Mellon Corp acquired a new position in shares of FMC Corporation (NYSE:FMC - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 738,930 shares of the basic materials company's stock, valued at approximately $8,498,000. Bank of New York Mellon Corp owned 0.59% of FMC at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Icon Wealth Advisors LLC lifted its position in shares of FMC by 217.2% in the fourth quarter. Icon Wealth Advisors LLC now owns 63,647 shares of the basic materials company's stock worth $883,000 after purchasing an additional 43,582 shares in the last quarter. Entropy Technologies LP purchased a new position in FMC during the first quarter valued at approximately $1,401,000. Armistice Capital LLC purchased a new position in FMC during the third quarter valued at approximately $204,000. State of Tennessee Department of Treasury increased its stake in FMC by 45.1% in the 2nd quarter. State of Tennessee Department of Treasury now owns 57,504 shares of the basic materials company's stock valued at $2,401,000 after buying an additional 17,878 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in FMC by 11.0% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,448 shares of the basic materials company's stock valued at $2,171,000 after buying an additional 5,091 shares during the period. Hedge funds and other institutional investors own 91.86% of the company's stock.

FMC Stock Up 12.5%

FMC stock opened at $13.37 on Thursday. The firm has a market cap of $1.67 billion, a PE ratio of -0.61 and a beta of 0.41. FMC Corporation has a 1 year low of $9.94 and a 1 year high of $38.68. The company has a fifty day simple moving average of $11.04 and a 200 day simple moving average of $13.12. The company has a current ratio of 1.99, a quick ratio of 1.48 and a debt-to-equity ratio of 2.38.

FMC (NYSE:FMC - Get Free Report) last posted its earnings results on Wednesday, July 29th. The basic materials company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.04. The company had revenue of $841.40 million for the quarter, compared to analyst estimates of $895.14 million. FMC had a positive return on equity of 11.35% and a negative net margin of 84.83%.The business's revenue was down 17.5% compared to the same quarter last year. During the same period last year, the company earned $0.69 earnings per share. Sell-side analysts anticipate that FMC Corporation will post 1.27 EPS for the current fiscal year.

FMC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 2.4%. The ex-dividend date is Wednesday, September 30th. FMC's payout ratio is -1.45%.

Analyst Ratings Changes

Several research firms have recently commented on FMC. Royal Bank Of Canada lowered their price target on shares of FMC from $12.00 to $11.00 and set a "sector perform" rating on the stock in a report on Monday, August 3rd. Zacks Research lowered FMC from a "hold" rating to a "strong sell" rating in a report on Wednesday, July 1st. Morgan Stanley reduced their price objective on FMC from $15.50 to $12.00 and set an "equal weight" rating for the company in a research report on Friday, July 31st. The Goldman Sachs Group restated a "buy" rating and issued a $18.00 target price on shares of FMC in a research note on Friday, July 31st. Finally, Wall Street Zen raised FMC from a "sell" rating to a "hold" rating in a research report on Saturday, August 1st. Three analysts have rated the stock with a Buy rating, eight have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $14.25.

About FMC

FMC Corporation is a global agricultural sciences company specializing in the development, manufacture and marketing of crop protection products. Its portfolio includes herbicides, insecticides, fungicides and plant nutrition solutions designed to enhance crop yield, quality and sustainability. In addition to core crop protection, FMC delivers solutions for turf management and pest control in urban and industrial environments.

Founded in 1883 as the Bean Spray Pump Company and later known as Food Machinery Corporation, the business adopted the FMC name in 1948 and has since evolved through strategic acquisitions and divestitures.

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