Cary Street Partners Financial LLC Makes New $606,000 Investment in FMC Corporation (NYSE:FMC)

Key Points

• Cary Street Partners Financial LLC has acquired a new stake in FMC Corporation, purchasing 14,356 shares valued at approximately $606,000.
• Institutional investors own 91.86% of FMC's stock, with significant increases in holdings from several firms, including Franklin Resources and Envestnet Asset Management.
• FMC recently declared a quarterly dividend of $0.58 per share, reflecting a 6.5% yield, set to be paid on October 16th to shareholders on record by September 30th.

Cary Street Partners Financial LLC acquired a new position in FMC Corporation (NYSE:FMC - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 14,356 shares of the basic materials company's stock, valued at approximately $606,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Financial Harvest LLC bought a new position in shares of FMC during the 1st quarter valued at approximately $29,000. Resona Asset Management Co. Ltd. bought a new position in FMC in the 4th quarter worth approximately $37,000. Golden State Wealth Management LLC boosted its holdings in FMC by 66.6% in 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. Canada Post Corp Registered Pension Plan bought a new position in FMC in the 4th quarter worth approximately $62,000. Finally, Central Pacific Bank Trust Division bought a new position in FMC in the 1st quarter worth approximately $55,000. 91.86% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on FMC. Mizuho raised shares of FMC from a "neutral" rating to an "outperform" rating and set a $49.00 price objective for the company in a report on Friday, April 25th. Morgan Stanley lowered their target price on shares of FMC from $46.00 to $42.00 and set an "equal weight" rating on the stock in a research note on Friday, August 1st. Wells Fargo & Company upgraded shares of FMC from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $41.00 to $50.00 in a research note on Monday, June 23rd. Barclays increased their target price on shares of FMC from $48.00 to $49.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. Finally, Royal Bank Of Canada lowered their target price on shares of FMC from $47.00 to $42.00 and set a "sector perform" rating on the stock in a research note on Friday, August 1st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, FMC has an average rating of "Hold" and a consensus target price of $50.38.

FMC Stock Performance

NYSE:FMC remained flat at $35.13 during trading hours on Tuesday. 2,082,288 shares of the company were exchanged, compared to its average volume of 2,588,339. The company has a market capitalization of $4.39 billion, a price-to-earnings ratio of 43.91, a price-to-earnings-growth ratio of 1.11 and a beta of 0.75. The firm's 50-day moving average price is $41.75 and its 200-day moving average price is $40.63. FMC Corporation has a one year low of $32.83 and a one year high of $67.75. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.53 and a quick ratio of 1.14.

FMC (NYSE:FMC - Get Free Report) last issued 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. The company had revenue of $1.05 billion for the quarter, compared to analysts' expectations of $995.15 million. FMC had a net margin of 2.42% and a return on equity of 9.36%. The firm's revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.63 EPS. Equities analysts anticipate that FMC Corporation will post 3.48 earnings per share for the current fiscal year.

FMC Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 16th. Shareholders of record on Tuesday, September 30th will be issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 6.6%. The ex-dividend date of this dividend is Tuesday, September 30th. FMC's dividend payout ratio (DPR) is 290.00%.

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.