Envestnet Asset Management Inc. Cuts Holdings in FMC Corporation (NYSE:FMC)

Envestnet Asset Management Inc. decreased its position in FMC Corporation (NYSE:FMC - Free Report) by 18.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 122,557 shares of the basic materials company's stock after selling 28,380 shares during the period. Envestnet Asset Management Inc. owned approximately 0.10% of FMC worth $5,171,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brookstone Capital Management grew its position in FMC by 74.5% during the 1st quarter. Brookstone Capital Management now owns 287,798 shares of the basic materials company's stock worth $12,142,000 after purchasing an additional 122,911 shares during the period. Aviance Capital Partners LLC acquired a new stake in FMC during the 1st quarter worth about $858,000. D.A. Davidson & CO. grew its position in shares of FMC by 143.5% during the 1st quarter. D.A. Davidson & CO. now owns 34,878 shares of the basic materials company's stock valued at $1,472,000 after acquiring an additional 20,554 shares during the period. Principal Financial Group Inc. increased its stake in shares of FMC by 327.3% in the 1st quarter. Principal Financial Group Inc. now owns 627,540 shares of the basic materials company's stock valued at $26,476,000 after purchasing an additional 480,691 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its stake in shares of FMC by 167.2% in the 1st quarter. Oregon Public Employees Retirement Fund now owns 28,600 shares of the basic materials company's stock valued at $1,207,000 after purchasing an additional 17,896 shares in the last quarter. Hedge funds and other institutional investors own 91.86% of the company's stock.

FMC Price Performance

Shares of FMC stock traded down $0.58 on Monday, hitting $42.63. 1,214,120 shares of the company were exchanged, compared to its average volume of 1,348,738. The stock has a market capitalization of $5.32 billion, a price-to-earnings ratio of 16.27, a price-to-earnings-growth ratio of 1.40 and a beta of 0.77. The company has a quick ratio of 1.12, a current ratio of 1.54 and a debt-to-equity ratio of 0.69. The company has a 50-day moving average price of $42.00 and a 200 day moving average price of $41.75. FMC Corporation has a 1-year low of $32.83 and a 1-year high of $68.55.

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

FMC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 16th. Investors of record on Tuesday, September 30th will be paid 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 5.44%. FMC's payout ratio is currently 88.55%.

Analysts Set New Price Targets

FMC has been the subject of several recent analyst reports. Royal Bank Of Canada lifted their price target on FMC from $40.00 to $47.00 and gave the company a "sector perform" rating in a research note on Thursday, July 10th. Barclays lifted their price objective on FMC from $48.00 to $49.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. Wells Fargo & Company upgraded FMC from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $41.00 to $50.00 in a report on Monday, June 23rd. UBS Group lifted their price objective on FMC from $41.00 to $45.00 and gave the stock a "neutral" rating in a report on Wednesday, July 9th. Finally, KeyCorp lifted their price objective on FMC from $53.00 to $61.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $51.15.

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.