12,805 Shares in FMC Corporation (NYSE:FMC) Bought by CCM Investment Group LLC

Key Points

• CCM Investment Group LLC has invested approximately $533,000 in FMC Corporation by acquiring 12,805 shares during the 1st quarter.
• FMC recently announced a quarterly dividend of $0.58 per share, with a dividend yield of 6.5% expected to be paid on October 16th.
• In terms of stock performance, FMC has a current PE ratio of 44.67 and a market capitalization of $4.46 billion.

CCM Investment Group LLC purchased a new stake in shares of FMC Corporation (NYSE:FMC - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 12,805 shares of the basic materials company's stock, valued at approximately $533,000.

Several other hedge funds also recently added to or reduced their stakes in FMC. Financial Harvest LLC bought a new position in FMC during the 1st quarter valued at about $29,000. Golden State Wealth Management LLC grew its holdings 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 valued at $42,000 after purchasing an additional 402 shares during the last quarter. Central Pacific Bank Trust Division bought a new position in FMC during the 1st quarter valued at about $55,000. Canada Post Corp Registered Pension Plan bought a new position in FMC during the 4th quarter valued at about $62,000. Finally, UMB Bank n.a. grew its holdings in FMC by 378.5% during the 1st quarter. UMB Bank n.a. now owns 1,914 shares of the basic materials company's stock valued at $81,000 after purchasing an additional 1,514 shares during the last quarter. 91.86% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have commented on FMC. Mizuho upgraded shares of FMC from a "neutral" rating to an "outperform" rating and set a $49.00 target price on the stock in a research note on Friday, April 25th. Morgan Stanley dropped their price objective 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. UBS Group dropped their price objective on shares of FMC from $45.00 to $44.00 and set a "neutral" rating on the stock in a research note on Thursday, July 31st. Wall Street Zen upgraded shares of FMC from a "sell" rating to a "hold" rating in a research note on Saturday, June 14th. Finally, Barclays dropped their price objective on shares of FMC from $49.00 to $48.00 and set an "overweight" rating on the stock in a research note on Wednesday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $49.58.

FMC Stock Up 0.7%

FMC traded up $0.26 during trading on Friday, hitting $37.56. The stock had a trading volume of 291,300 shares, compared to its average volume of 2,563,362. The company has a market capitalization of $4.69 billion, a PE ratio of 46.98, a PEG ratio of 1.16 and a beta of 0.75. FMC Corporation has a twelve month low of $32.83 and a twelve month high of $67.75. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.14 and a current ratio of 1.53. The stock has a 50 day simple moving average of $41.46 and a two-hundred day simple moving average of $40.44.

FMC (NYSE:FMC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The basic materials company reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.59 by $0.10. The business had revenue of $1.05 billion during 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 business's quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the company posted $0.63 earnings per share. On average, research analysts predict that FMC Corporation will post 3.48 earnings per share for the current year.

FMC Announces Dividend

The business 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. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 6.2%. FMC's dividend payout ratio (DPR) is currently 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.