Mirae Asset Global Investments Co. Ltd. Increases Stock Position in FMC Corporation (NYSE:FMC)

Mirae Asset Global Investments Co. Ltd. increased its position in shares of FMC Corporation (NYSE:FMC - Free Report) by 608.3% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 101,731 shares of the basic materials company's stock after purchasing an additional 87,368 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.08% of FMC worth $4,294,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of FMC during the 4th quarter worth approximately $49,888,000. Invesco Ltd. raised its position in FMC by 37.8% in 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 lifted its holdings in FMC by 44.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,286,177 shares of the basic materials company's stock valued at $111,131,000 after acquiring an additional 707,727 shares during the period. Balyasny Asset Management L.P. boosted its position in shares of FMC by 762.4% during the 4th 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 in the last quarter. Finally, Deutsche Bank AG grew its stake in shares of FMC by 39.2% during the 4th quarter. Deutsche Bank AG now owns 1,437,340 shares of the basic materials company's stock worth $69,869,000 after purchasing an additional 404,876 shares during the period. Institutional investors and hedge funds own 91.86% of the company's stock.

FMC Trading Up 3.6%

Shares of NYSE:FMC traded up $1.55 during trading on Wednesday, reaching $44.49. The stock had a trading volume of 1,871,842 shares, compared to its average volume of 2,025,883. The company has a quick ratio of 1.12, a current ratio of 1.54 and a debt-to-equity ratio of 0.69. The stock has a market cap of $5.56 billion, a P/E ratio of 16.98, a PEG ratio of 1.26 and a beta of 0.77. The business has a fifty day moving average price of $40.40 and a 200-day moving average price of $42.68. FMC Corporation has a fifty-two week low of $32.83 and a fifty-two week high of $68.55.

FMC (NYSE:FMC - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The basic materials company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.10. FMC had a return on equity of 9.12% and a net margin of 7.97%. The company had revenue of $791.40 million during the quarter, compared to the consensus estimate of $783.70 million. During the same period in the previous year, the firm posted $0.36 EPS. FMC's revenue was down 13.8% on a year-over-year basis. As a group, analysts anticipate that FMC Corporation will post 3.48 earnings per share for the current fiscal year.

FMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 17th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 5.21%. The ex-dividend date of this dividend is Monday, June 30th. FMC's dividend payout ratio is currently 88.55%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. UBS Group raised their price objective on shares of FMC from $38.00 to $41.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Mizuho upgraded shares of FMC from a "neutral" rating to an "outperform" rating and set a $49.00 price target for the company in a research report on Friday, April 25th. The Goldman Sachs Group started coverage on FMC in a research note on Thursday, March 13th. They set a "buy" rating and a $51.00 price target on the stock. KeyCorp raised their price objective on FMC from $49.00 to $53.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Finally, Wells Fargo & Company upgraded FMC from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $41.00 to $50.00 in a research report on Monday, June 23rd. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, FMC has an average rating of "Hold" and a consensus target price of $50.15.

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.