Citigroup Inc. Has $9.36 Million Holdings in FMC Corporation (NYSE:FMC)

Key Points

• Citigroup Inc. increased its stake in FMC Corporation by 118.2%, owning 221,850 shares valued at $9.36 million at the end of the most recent quarter.
• The company reported earnings of $0.69 per share, exceeding analyst expectations, and had a revenue of $1.05 billion, up 1.2% year-over-year.
• FMC recently announced a quarterly dividend of $0.58 per share, resulting in a dividend yield of 6.2%, with a payout ratio of 290.00%.

Citigroup Inc. lifted its stake in FMC Corporation (NYSE:FMC - Free Report) by 118.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 221,850 shares of the basic materials company's stock after purchasing an additional 120,193 shares during the period. Citigroup Inc. owned 0.18% of FMC worth $9,360,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Maryland State Retirement & Pension System boosted its position in shares of FMC by 493.7% in the 1st quarter. Maryland State Retirement & Pension System now owns 42,275 shares of the basic materials company's stock worth $1,784,000 after purchasing an additional 35,154 shares during the last quarter. Chicago Partners Investment Group LLC acquired a new stake in shares of FMC in the 1st quarter valued at approximately $270,000. Charles Schwab Investment Management Inc. raised its position in shares of FMC by 286.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,494,377 shares of the basic materials company's stock valued at $189,618,000 after acquiring an additional 3,329,974 shares during the period. Primecap Management Co. CA acquired a new stake in shares of FMC in the 1st quarter valued at approximately $9,767,000. Finally, Exencial Wealth Advisors LLC raised its position in shares of FMC by 7.9% in the 1st quarter. Exencial Wealth Advisors LLC now owns 22,864 shares of the basic materials company's stock valued at $965,000 after acquiring an additional 1,667 shares during the period. 91.86% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Morgan Stanley cut their price target on shares of FMC from $46.00 to $42.00 and set an "equal weight" rating on the stock in a research report on Friday, August 1st. Royal Bank Of Canada lowered their target price on FMC from $47.00 to $42.00 and set a "sector perform" rating for the company in a research note on Friday, August 1st. Wells Fargo & Company raised 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. KeyCorp increased their target price on FMC from $53.00 to $61.00 and gave the stock an "overweight" rating in a research note on Monday, July 14th. Finally, UBS Group lowered their target price on FMC from $45.00 to $44.00 and set a "neutral" rating for the company in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, FMC presently has an average rating of "Hold" and a consensus price target of $49.58.

FMC Price Performance

Shares of FMC opened at $37.42 on Friday. The stock has a market capitalization of $4.67 billion, a P/E ratio of 46.78, a P/E/G ratio of 1.15 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 50 day moving average of $41.35 and a 200-day moving average of $40.31. 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 (NYSE:FMC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The basic materials company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.10. The company 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 period last year, the business earned $0.63 EPS. As a group, equities research analysts forecast that FMC Corporation will post 3.48 EPS for the current fiscal year.

FMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 16th. Stockholders of record on Tuesday, September 30th will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 6.2%. The ex-dividend date of this dividend is Tuesday, September 30th. FMC's dividend payout ratio is presently 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.

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