FMC Corporation (NYSE:FMC) Shares Sold by Deutsche Bank AG

Key Points

• Deutsche Bank AG has significantly reduced its stake in FMC Corporation by 79.8%, selling over 1.1 million shares in the first quarter, and now owns only 0.23% of the company's stock.
• A variety of analysts have recently adjusted their price targets on FMC stock, with a consensus target of $49.58 and a mix of buy, hold, and sell ratings among investment analysts.
• FMC Corporation announced a quarterly dividend of $0.58 per share to be paid on October 16th, yielding approximately 6.2% annually, despite a high dividend payout ratio of 290%.

Deutsche Bank AG lowered its position in shares of FMC Corporation (NYSE:FMC - Free Report) by 79.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 289,783 shares of the basic materials company's stock after selling 1,147,557 shares during the quarter. Deutsche Bank AG owned about 0.23% of FMC worth $12,226,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in FMC. Financial Harvest LLC acquired a new stake in shares of FMC during the 1st quarter worth approximately $29,000. Golden State Wealth Management LLC raised its position in shares of FMC by 66.6% during the 1st quarter. Golden State Wealth Management LLC now owns 1,006 shares of the basic materials company's stock worth $42,000 after purchasing an additional 402 shares during the period. Central Pacific Bank Trust Division acquired a new stake in shares of FMC during the 1st quarter worth approximately $55,000. Canada Post Corp Registered Pension Plan acquired a new stake in shares of FMC during the 4th quarter worth approximately $62,000. Finally, UMB Bank n.a. raised its position in shares of FMC by 378.5% during the 1st quarter. UMB Bank n.a. now owns 1,914 shares of the basic materials company's stock worth $81,000 after purchasing an additional 1,514 shares during the period. 91.86% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Morgan Stanley dropped their price target on FMC from $46.00 to $42.00 and set an "equal weight" rating on the stock in a research report on Friday, August 1st. KeyCorp increased their price target on FMC from $53.00 to $61.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Mizuho upgraded FMC from a "neutral" rating to an "outperform" rating and set a $49.00 target price on the stock in a research report on Friday, April 25th. Barclays lowered their target price on FMC from $49.00 to $48.00 and set an "overweight" rating on the stock in a research report on Wednesday. Finally, UBS Group lowered their target price on FMC from $45.00 to $44.00 and set a "neutral" rating on the stock in a research report on Thursday, July 31st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $49.58.

FMC Stock Performance

Shares of NYSE FMC opened at $37.28 on Friday. The stock has a fifty day moving average price of $41.46 and a two-hundred day moving average price of $40.44. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.14 and a current ratio of 1.53. The firm has a market cap of $4.66 billion, a P/E ratio of 46.60, a PEG ratio of 1.16 and a beta of 0.75. FMC Corporation has a 1 year low of $32.83 and a 1 year high of $67.75.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.59 by $0.10. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $995.15 million. FMC had a return on equity of 9.36% and a net margin of 2.42%. The firm's quarterly revenue was up 1.2% on a year-over-year basis. During the same period last year, the company posted $0.63 EPS. Research analysts forecast that FMC Corporation will post 3.48 EPS for the current fiscal year.

FMC Announces Dividend

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 paid a dividend of $0.58 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.32 annualized dividend and a dividend yield of 6.2%. FMC's dividend payout ratio (DPR) is currently 290.00%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.