Bowen Hanes & Co. Inc. Cuts Holdings in FMC Corporation $FMC

Key Points

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Bowen Hanes & Co. Inc. trimmed its holdings in shares of FMC Corporation (NYSE:FMC - Free Report) by 64.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 12,464 shares of the basic materials company's stock after selling 22,845 shares during the period. Bowen Hanes & Co. Inc.'s holdings in FMC were worth $526,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. New South Capital Management Inc. lifted its holdings in shares of FMC by 9.7% during the 1st quarter. New South Capital Management Inc. now owns 546,041 shares of the basic materials company's stock valued at $23,037,000 after buying an additional 48,431 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of FMC by 608.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 101,731 shares of the basic materials company's stock valued at $4,294,000 after buying an additional 87,368 shares during the period. Amalgamated Bank lifted its holdings in shares of FMC by 56.1% during the 1st quarter. Amalgamated Bank now owns 37,710 shares of the basic materials company's stock valued at $1,591,000 after buying an additional 13,556 shares during the period. GAMMA Investing LLC lifted its holdings in shares of FMC by 114.8% during the 1st quarter. GAMMA Investing LLC now owns 4,245 shares of the basic materials company's stock valued at $179,000 after buying an additional 2,269 shares during the period. Finally, SG Americas Securities LLC lifted its holdings in shares of FMC by 560.3% during the 1st quarter. SG Americas Securities LLC now owns 14,982 shares of the basic materials company's stock valued at $632,000 after buying an additional 12,713 shares during the period. 91.86% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Barclays decreased their target price on FMC from $49.00 to $48.00 and set an "overweight" rating on the stock in a report on Wednesday, August 13th. Royal Bank Of Canada decreased their target price on FMC from $47.00 to $42.00 and set a "sector perform" rating on the stock in a report on Friday, August 1st. UBS Group decreased their target price on FMC from $45.00 to $44.00 and set a "neutral" rating on the stock in a report on Thursday, July 31st. Mizuho raised FMC from a "neutral" rating to an "outperform" rating and set a $49.00 target price on the stock in a report on Friday, April 25th. Finally, Wells Fargo & Company raised FMC from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $41.00 to $50.00 in a report on Monday, June 23rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $49.58.

FMC Trading Up 1.2%

Shares of FMC stock opened at $37.91 on Tuesday. The firm has a market cap of $4.74 billion, a price-to-earnings ratio of 47.39, a PEG ratio of 1.16 and a beta of 0.75. The business has a 50-day moving average price of $41.23 and a 200-day moving average price of $39.96. The company has a quick ratio of 1.14, a current ratio of 1.53 and a debt-to-equity ratio of 0.74. FMC Corporation has a twelve month low of $32.83 and a twelve month high of $67.75.

FMC (NYSE:FMC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The basic materials company reported $0.69 earnings per share for the quarter, beating analysts' consensus estimates of $0.59 by $0.10. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $995.15 million. FMC had a return on equity of 9.36% and a net margin of 2.42%. The business's quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.63 earnings per share. Equities research analysts anticipate that FMC Corporation will post 3.48 EPS for the current fiscal year.

FMC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 16th. Investors of record on Tuesday, September 30th will be given a $0.58 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $2.32 annualized dividend and a yield of 6.1%. FMC's dividend payout ratio (DPR) is currently 290.00%.

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.

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