Edgestream Partners L.P. Invests $2.61 Million in FMC Corporation (NYSE:FMC)

Edgestream Partners L.P. purchased a new position in FMC Corporation (NYSE:FMC - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 61,887 shares of the basic materials company's stock, valued at approximately $2,611,000.

Other large investors also recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its stake in shares of FMC by 217.4% during the 4th quarter. EverSource Wealth Advisors LLC now owns 746 shares of the basic materials company's stock worth $36,000 after acquiring an additional 511 shares during the last quarter. Resona Asset Management Co. Ltd. purchased a new position in FMC during the fourth quarter valued at $37,000. Golden State Wealth Management LLC grew its holdings in FMC by 66.6% during the first 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 period. Central Pacific Bank Trust Division purchased a new stake in FMC in the first quarter worth about $55,000. Finally, Canada Post Corp Registered Pension Plan purchased a new position in shares of FMC during the 4th quarter valued at about $62,000. Institutional investors own 91.86% of the company's stock.

FMC Price Performance

NYSE FMC traded down $0.22 during trading on Friday, hitting $42.02. 1,312,514 shares of the stock traded hands, compared to its average volume of 2,035,500. The company has a market capitalization of $5.25 billion, a P/E ratio of 16.04, a price-to-earnings-growth ratio of 1.28 and a beta of 0.77. FMC Corporation has a 12-month low of $32.83 and a 12-month high of $68.55. The firm has a 50-day simple moving average of $41.51 and a 200-day simple moving average of $42.04. The company has a quick ratio of 1.12, a current ratio of 1.54 and a debt-to-equity ratio of 0.69.

FMC (NYSE:FMC - Get Free Report) last released its earnings results on Wednesday, April 30th. The basic materials company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.10. FMC had a net margin of 7.97% and a return on equity of 9.12%. The firm had revenue of $791.40 million during the quarter, compared to analyst estimates of $783.70 million. During the same quarter last year, the business earned $0.36 EPS. The business's revenue was down 13.8% on a year-over-year basis. As a group, analysts predict that FMC Corporation will post 3.48 EPS for the current year.

FMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 16th. Investors 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 annualized dividend and a dividend yield of 5.52%. FMC's payout ratio is currently 88.55%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. UBS Group raised their target price on shares of FMC from $41.00 to $45.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 9th. Mizuho upgraded shares of FMC from a "neutral" rating to an "outperform" rating and set a $49.00 price objective on the stock in a research report on Friday, April 25th. KeyCorp upped their target price on shares of FMC from $53.00 to $61.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Barclays increased their price target on FMC from $48.00 to $49.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. Finally, Wall Street Zen upgraded FMC from a "sell" rating to a "hold" rating in a research report on Saturday, June 14th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, FMC currently has a consensus rating of "Hold" and an average target price of $51.15.

FMC Company 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.