FMC Corporation $FMC Shares Purchased by AXQ Capital LP

Key Points

• AXQ Capital LP more than doubled its FMC stake in the second quarter, acquiring 191,945 additional shares to own 366,661 shares valued at approximately $4.2 million. Institutional investors collectively hold 91.86% of FMC’s outstanding stock.
• Analyst sentiment is mixed, with three Buy, eight Hold, and three Sell ratings. FMC has a consensus rating of Hold and an average price target of $14.25.
• FMC beat quarterly EPS expectations, reporting $0.26 versus the $0.22 consensus, but revenue fell 17.5% year over year to $841.4 million. The company also declared a quarterly dividend of $0.08 per share, representing a 2.5% yield.

AXQ Capital LP boosted its holdings in FMC Corporation (NYSE:FMC - Free Report) by 109.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 366,661 shares of the basic materials company's stock after acquiring an additional 191,945 shares during the quarter. FMC comprises about 0.5% of AXQ Capital LP's investment portfolio, making the stock its 29th biggest holding. AXQ Capital LP owned 0.29% of FMC worth $4,217,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp acquired a new position in shares of FMC in the 2nd quarter worth $8,498,000. Wellington Management Group LLP increased its holdings in shares of FMC by 142.4% in the 2nd quarter. Wellington Management Group LLP now owns 235,089 shares of the basic materials company's stock valued at $2,704,000 after purchasing an additional 138,098 shares during the period. Public Employees Retirement System of Ohio purchased a new stake in shares of FMC in the second quarter worth approximately $1,175,000. Entropy Technologies LP purchased a new stake in shares of FMC in the first quarter worth approximately $1,401,000. Finally, Icon Wealth Advisors LLC increased its stake in FMC by 217.2% in the 4th quarter. Icon Wealth Advisors LLC now owns 63,647 shares of the basic materials company's stock valued at $883,000 after buying an additional 43,582 shares during the period. 91.86% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on FMC shares. The Goldman Sachs Group reiterated a "buy" rating and set a $18.00 price objective on shares of FMC in a report on Friday, July 31st. Citigroup restated a "buy" rating on shares of FMC in a report on Tuesday, August 4th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of FMC in a research note on Wednesday, August 26th. Zacks Research lowered FMC from a "hold" rating to a "strong sell" rating in a report on Wednesday, July 1st. Finally, Wall Street Zen raised FMC from a "sell" rating to a "hold" rating in a research report on Saturday, August 1st. Three research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $14.25.

FMC Price Performance

Shares of FMC stock opened at $12.99 on Friday. The stock has a 50 day moving average of $11.07 and a two-hundred day moving average of $13.11. The company has a current ratio of 1.99, a quick ratio of 1.48 and a debt-to-equity ratio of 2.38. FMC Corporation has a 12 month low of $9.94 and a 12 month high of $38.68. The company has a market capitalization of $1.63 billion, a P/E ratio of -0.59 and a beta of 0.41.

FMC (NYSE:FMC - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.04. FMC had a positive return on equity of 11.35% and a negative net margin of 84.83%.The business had revenue of $841.40 million for the quarter, compared to analysts' expectations of $895.14 million. During the same period in the previous year, the business posted $0.69 earnings per share. FMC's quarterly revenue was down 17.5% on a year-over-year basis. As a group, equities analysts expect that FMC Corporation will post 1.27 EPS for the current year.

FMC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 2.5%. The ex-dividend date is Wednesday, September 30th. FMC's payout ratio is currently -1.45%.

FMC Profile

FMC Corporation is a global agricultural sciences company specializing in the development, manufacture and marketing of crop protection products. Its portfolio includes herbicides, insecticides, fungicides and plant nutrition solutions designed to enhance crop yield, quality and sustainability. In addition to core crop protection, FMC delivers solutions for turf management and pest control in urban and industrial environments.

Founded in 1883 as the Bean Spray Pump Company and later known as Food Machinery Corporation, the business adopted the FMC name in 1948 and has since evolved through strategic acquisitions and divestitures.

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