Bryce Point Capital LLC Acquires 7,325 Shares of FMC Corporation (NYSE:FMC)

Key Points

• Bryce Point Capital LLC increased its stake in FMC Corporation by 63.6%, acquiring an additional 7,325 shares in the first quarter, bringing its total holdings to 18,845 shares worth $775,000.
• Wall Street analysts exhibit confidence in FMC, with several brokerages raising their target prices and ratings, resulting in an average target price of $51.15 for the stock.
• FMC Corporation recently announced a quarterly dividend of $0.58 per share, reflecting an annualized yield of 5.36%, with a payout ratio currently at 88.55%.

Bryce Point Capital LLC lifted its holdings in shares of FMC Corporation (NYSE:FMC - Free Report) by 63.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,845 shares of the basic materials company's stock after purchasing an additional 7,325 shares during the period. Bryce Point Capital LLC's holdings in FMC were worth $775,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in FMC. Financial Harvest LLC bought a new stake in shares of FMC during the 1st quarter valued at about $29,000. Resona Asset Management Co. Ltd. acquired a new position in FMC during the 4th quarter worth approximately $37,000. Golden State Wealth Management LLC raised its stake in FMC by 66.6% during the 1st quarter. Golden State Wealth Management LLC now owns 1,006 shares of the basic materials company's stock worth $42,000 after buying an additional 402 shares during the period. Central Pacific Bank Trust Division acquired a new position in FMC during the 1st quarter worth approximately $55,000. Finally, Canada Post Corp Registered Pension Plan acquired a new position in FMC during the 4th quarter worth approximately $62,000. Institutional investors own 91.86% of the company's stock.

Analyst Ratings Changes

FMC has been the topic of a number of research reports. Mizuho raised FMC from a "neutral" rating to an "outperform" rating and set a $49.00 price target on the stock in a research note on Friday, April 25th. Wells Fargo & Company raised FMC from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $41.00 to $50.00 in a research note on Monday, June 23rd. KeyCorp increased their price objective on FMC from $53.00 to $61.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. Wall Street Zen raised FMC from a "sell" rating to a "hold" rating in a research note on Saturday, June 14th. Finally, Barclays increased their price target on FMC from $48.00 to $49.00 and gave the company an "overweight" rating in a research report on Monday, July 7th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $51.08.

FMC Stock Performance

Shares of NYSE FMC traded down $2.32 during midday trading on Thursday, hitting $39.01. 2,587,311 shares of the stock traded hands, compared to its average volume of 2,603,512. The firm has a 50-day moving average of $42.08 and a two-hundred day moving average of $41.75. The firm has a market capitalization of $4.87 billion, a P/E ratio of 14.85, a PEG ratio of 1.36 and a beta of 0.77. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.12 and a current ratio of 1.54. FMC Corporation has a one year low of $32.83 and a one year high of $68.55.

FMC (NYSE:FMC - Get Free Report) last announced its earnings results on Wednesday, July 30th. The basic materials company reported $0.69 EPS for the quarter, topping analysts' consensus estimates of $0.59 by $0.10. FMC had a return on equity of 9.12% and a net margin of 7.97%. The company had revenue of $1.05 billion for the quarter, compared to analysts' expectations of $995.15 million. During the same period last year, the firm earned $0.63 EPS. FMC's revenue for the quarter was up 1.2% compared to the same quarter last year. On average, equities analysts forecast that FMC Corporation will post 3.48 EPS for the current fiscal year.

FMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 16th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.58 per share. The ex-dividend date is Tuesday, September 30th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 5.95%. FMC's payout ratio is 88.55%.

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.