FMC Corporation (NYSE:FMC) Shares Purchased by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH increased its holdings in FMC Corporation by 147.7% in the first quarter, owning approximately 265,017 shares valued at $11.18 million.
• FMC Corporation recently reported $0.18 earnings per share, exceeding estimates, with a revenue of $791.40 million for the quarter, although down 13.8% year-over-year.
• The company declared a quarterly dividend of $0.58, representing a 5.36% dividend yield, with a payout ratio of 88.55%.

Allianz Asset Management GmbH raised its stake in shares of FMC Corporation (NYSE:FMC - Free Report) by 147.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 265,017 shares of the basic materials company's stock after buying an additional 158,031 shares during the quarter. Allianz Asset Management GmbH owned about 0.21% of FMC worth $11,181,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Janus Henderson Group PLC increased its position in shares of FMC by 0.5% during the fourth quarter. Janus Henderson Group PLC now owns 59,771 shares of the basic materials company's stock worth $2,905,000 after acquiring an additional 286 shares during the period. Algert Global LLC increased its position in shares of FMC by 0.5% during the fourth quarter. Algert Global LLC now owns 59,052 shares of the basic materials company's stock worth $2,871,000 after acquiring an additional 300 shares during the period. Treasurer of the State of North Carolina increased its position in shares of FMC by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 54,754 shares of the basic materials company's stock worth $2,662,000 after acquiring an additional 350 shares during the period. Golden State Wealth Management LLC lifted its holdings in shares of FMC by 66.6% in the 1st quarter. Golden State Wealth Management LLC now owns 1,006 shares of the basic materials company's stock worth $42,000 after buying an additional 402 shares during the period. Finally, HighTower Advisors LLC grew its position in shares of FMC by 6.0% during the 4th quarter. HighTower Advisors LLC now owns 7,766 shares of the basic materials company's stock worth $377,000 after buying an additional 437 shares in the last quarter. 91.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Mizuho raised shares of FMC from a "neutral" rating to an "outperform" rating and set a $49.00 price objective on the stock in a report on Friday, April 25th. KeyCorp lifted their price objective on shares of FMC from $53.00 to $61.00 and gave the company an "overweight" rating in a report on Monday, July 14th. Wall Street Zen raised shares of FMC from a "sell" rating to a "hold" rating in a report on Saturday, June 14th. Wells Fargo & Company raised shares of FMC from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $41.00 to $50.00 in a report on Monday, June 23rd. Finally, UBS Group lifted their price objective on shares of FMC from $41.00 to $45.00 and gave the company a "neutral" rating in a report on Wednesday, July 9th. 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 stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $51.15.

FMC Stock Down 1.4%

FMC traded down $0.60 during trading on Wednesday, hitting $41.47. The stock had a trading volume of 3,249,780 shares, compared to its average volume of 1,363,697. The stock has a 50 day simple moving average of $42.08 and a two-hundred day simple moving average of $41.75. The company has a market capitalization of $5.18 billion, a PE ratio of 15.83, a PEG ratio of 1.36 and a beta of 0.77. FMC Corporation has a twelve month low of $32.83 and a twelve month high of $68.55. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.12 and a current ratio of 1.54.

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 $0.60 by $0.09. FMC had a net margin of 7.97% and a return on equity of 9.12%. The company's quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the company earned $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 Dividend Announcement

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 is Tuesday, September 30th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 5.59%. FMC's dividend payout ratio is currently 88.55%.

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.