FMC Corporation (NYSE:FMC) Shares Sold by Pzena Investment Management LLC

Pzena Investment Management LLC decreased its holdings in shares of FMC Corporation (NYSE:FMC - Free Report) by 2.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 560,962 shares of the basic materials company's stock after selling 17,000 shares during the period. Pzena Investment Management LLC owned approximately 0.45% of FMC worth $23,667,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. EverSource Wealth Advisors LLC boosted its stake in shares of FMC by 217.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 746 shares of the basic materials company's stock worth $36,000 after buying an additional 511 shares during the period. Resona Asset Management Co. Ltd. purchased a new position in FMC during the fourth quarter worth about $37,000. Golden State Wealth Management LLC raised its holdings in FMC by 66.6% during the first 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 in the last quarter. Central Pacific Bank Trust Division purchased a new position in FMC during the first quarter worth about $55,000. Finally, Canada Post Corp Registered Pension Plan purchased a new position in FMC during the fourth quarter worth about $62,000. Institutional investors and hedge funds own 91.86% of the company's stock.

Wall Street Analyst Weigh In

Several research 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 target for the company in a report on Friday, April 25th. Wells Fargo & Company raised shares of FMC from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $41.00 to $50.00 in a report on Monday, June 23rd. KeyCorp increased their price target on shares of FMC from $53.00 to $61.00 and gave the stock an "overweight" rating in a report on Monday. UBS Group increased their price target on shares of FMC from $41.00 to $45.00 and gave the stock a "neutral" rating in a report on Wednesday, July 9th. Finally, Royal Bank Of Canada increased their target price on shares of FMC from $40.00 to $47.00 and gave the company a "sector perform" rating in a report on Thursday, July 10th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $51.15.

FMC Price Performance

Shares of FMC stock traded down $0.22 during trading hours on Friday, hitting $42.02. The company's stock had a trading volume of 1,312,514 shares, compared to its average volume of 2,033,289. The business has a fifty day moving average of $41.41 and a 200-day moving average of $42.18. The stock has a market cap of $5.25 billion, a price-to-earnings ratio of 16.04, a P/E/G ratio of 1.28 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 current ratio of 1.54, a quick ratio of 1.12 and a debt-to-equity ratio of 0.69.

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 business 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 company's quarterly revenue was down 13.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.36 earnings per share. As a group, equities research analysts anticipate that FMC Corporation will post 3.48 EPS for the current year.

FMC Announces Dividend

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 given a dividend of $0.58 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.32 dividend on an annualized basis and a yield of 5.52%. FMC's dividend payout ratio (DPR) is currently 88.55%.

About FMC

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.