Koss Olinger Consulting LLC Takes $2.06 Million Position in FMC Corporation (NYSE:FMC)

Key Points

• Koss Olinger Consulting LLC acquired a new stake in FMC Corporation, purchasing 48,735 shares valued at approximately $2,056,000.
• FMC announced a quarterly dividend of $0.58 per share, reflecting a robust yield of 6.5%, with a significant dividend payout ratio of 290%.
• The company's quarterly earnings report showed $1.05 billion in revenue, surpassing estimates, with an earnings per share of $0.69, exceeding expectations by $0.10.

Koss Olinger Consulting LLC purchased a new position in shares of FMC Corporation (NYSE:FMC - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 48,735 shares of the basic materials company's stock, valued at approximately $2,056,000.

A number of other large investors have also made changes to their positions in FMC. Townsquare Capital LLC increased its position in shares of FMC by 18.7% in the 1st quarter. Townsquare Capital LLC now owns 13,704 shares of the basic materials company's stock valued at $578,000 after acquiring an additional 2,163 shares during the period. Citigroup Inc. grew its position in FMC by 118.2% during the 1st quarter. Citigroup Inc. now owns 221,850 shares of the basic materials company's stock worth $9,360,000 after purchasing an additional 120,193 shares during the period. Maryland State Retirement & Pension System grew its position in FMC by 493.7% during the 1st quarter. Maryland State Retirement & Pension System now owns 42,275 shares of the basic materials company's stock worth $1,784,000 after purchasing an additional 35,154 shares during the period. Chicago Partners Investment Group LLC acquired a new stake in FMC during the 1st quarter worth about $270,000. Finally, Charles Schwab Investment Management Inc. grew its position in FMC by 286.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,494,377 shares of the basic materials company's stock worth $189,618,000 after purchasing an additional 3,329,974 shares during the period. 91.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FMC has been the topic of a number of research reports. KeyCorp raised their price target on shares of FMC from $53.00 to $61.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Mizuho raised shares of 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. Royal Bank Of Canada dropped their price objective on shares of FMC from $47.00 to $42.00 and set a "sector perform" rating on the stock in a research note on Friday, August 1st. Morgan Stanley lowered their target price on shares of FMC from $46.00 to $42.00 and set an "equal weight" rating on the stock in a research report on Friday, August 1st. Finally, Wells Fargo & Company raised shares of FMC from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $41.00 to $50.00 in a research note on Monday, June 23rd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $50.38.

FMC Stock Performance

Shares of FMC stock traded down $0.66 during trading hours on Monday, hitting $35.13. 2,060,388 shares of the company's stock traded hands, compared to its average volume of 1,846,344. FMC Corporation has a 12-month low of $32.83 and a 12-month high of $67.75. The stock has a market capitalization of $4.39 billion, a price-to-earnings ratio of 43.91, a PEG ratio of 1.11 and a beta of 0.75. The company has a fifty day simple moving average of $41.75 and a 200-day simple moving average of $40.63. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.53 and a quick ratio of 1.14.

FMC (NYSE:FMC - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The basic materials company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.10. The firm had revenue of $1.05 billion for the quarter, compared to analysts' expectations of $995.15 million. FMC had a return on equity of 9.36% and a net margin of 2.42%. The company's revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.63 earnings per share. Equities research analysts anticipate that FMC Corporation will post 3.48 EPS for the current fiscal year.

FMC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 16th. Investors of record on Tuesday, September 30th will be paid a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 6.6%. The ex-dividend date of this dividend is Tuesday, September 30th. FMC's dividend payout ratio is presently 290.00%.

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.