Pacer Advisors Inc. Sells 33,454 Shares of FMC Corporation (NYSE:FMC)

Key Points

• Pacer Advisors Inc. significantly reduced its stake in FMC Corporation by 96%, now holding only 1,380 shares after selling 33,454 shares in the first quarter.
• Several institutional investors have made adjustments to their holdings, with Golden State Wealth Management LLC increasing its stake by an impressive 66.6%.
• FMC Corporation recently announced its quarterly dividend of $0.58 per share, representing a annual yield of 6.1%, with a payout ratio of 290.00%.

Pacer Advisors Inc. trimmed its holdings in shares of FMC Corporation (NYSE:FMC - Free Report) by 96.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,380 shares of the basic materials company's stock after selling 33,454 shares during the period. Pacer Advisors Inc.'s holdings in FMC were worth $58,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in FMC. Norges Bank bought a new stake in FMC in the 4th quarter valued at $49,888,000. Invesco Ltd. raised its stake in FMC by 37.8% during the fourth quarter. Invesco Ltd. now owns 3,559,107 shares of the basic materials company's stock worth $173,008,000 after acquiring an additional 977,110 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of FMC by 44.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,286,177 shares of the basic materials company's stock worth $111,131,000 after buying an additional 707,727 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of FMC by 327.3% in the first quarter. Principal Financial Group Inc. now owns 627,540 shares of the basic materials company's stock valued at $26,476,000 after buying an additional 480,691 shares during the period. Finally, Balyasny Asset Management L.P. lifted its holdings in shares of FMC by 762.4% during the fourth quarter. Balyasny Asset Management L.P. now owns 484,040 shares of the basic materials company's stock worth $23,529,000 after purchasing an additional 427,915 shares during the period. 91.86% of the stock is owned by institutional investors and hedge funds.

FMC Stock Down 0.8%

NYSE:FMC traded down $0.29 on Monday, hitting $37.72. The stock had a trading volume of 1,938,404 shares, compared to its average volume of 2,611,398. The company has a market cap of $4.71 billion, a PE ratio of 47.15, a P/E/G ratio of 1.38 and a beta of 0.75. FMC Corporation has a 52 week low of $32.83 and a 52 week high of $67.75. The business's fifty day moving average is $42.09 and its 200 day moving average is $41.38. The company has a quick ratio of 1.14, a current ratio of 1.53 and a debt-to-equity ratio of 0.74.

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, beating the consensus estimate of $0.59 by $0.10. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $995.15 million. FMC had a net margin of 2.42% and a return on equity of 9.36%. FMC's revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.63 EPS. On average, equities research analysts expect that FMC Corporation will post 3.48 EPS for the current fiscal year.

FMC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 16th. Investors of record on Tuesday, September 30th will be given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 6.2%. The ex-dividend date of this dividend is Tuesday, September 30th. FMC's dividend payout ratio is presently 290.00%.

Wall Street Analyst Weigh In

Several brokerages recently commented on FMC. Barclays upped their target price on FMC from $48.00 to $49.00 and gave the company an "overweight" rating in a report on Monday, July 7th. Wells Fargo & Company upgraded shares of FMC from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $41.00 to $50.00 in a research report on Monday, June 23rd. UBS Group dropped their target price on shares of FMC from $45.00 to $44.00 and set a "neutral" rating on the stock in a report on Thursday. Morgan Stanley decreased their price target on FMC from $46.00 to $42.00 and set an "equal weight" rating for the company in a report on Friday. Finally, Mizuho raised FMC from a "neutral" rating to an "outperform" rating and set a $49.00 price objective for the company in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $50.38.

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.