9,657 Shares in FMC Corporation (NYSE:FMC) Purchased by Maridea Wealth Management LLC

Key Points

• Maridea Wealth Management LLC has acquired a new stake in FMC Corporation, purchasing 9,657 shares valued at approximately $407,000 during the first quarter.
• The company reported earnings of $0.18 EPS for the last quarter, exceeding analysts' expectations, with a revenue of $791.40 million but down 13.8% year-over-year.
• FMC declared a quarterly dividend of $0.58, indicating an annual yield of 5.44%, with a dividend payout ratio of 88.55%.

Maridea Wealth Management LLC bought a new position in FMC Corporation (NYSE:FMC - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 9,657 shares of the basic materials company's stock, valued at approximately $407,000.

A number of other large investors also recently modified their holdings of FMC. Mackenzie Financial Corp raised its stake in shares of FMC by 3.2% in the first quarter. Mackenzie Financial Corp now owns 50,873 shares of the basic materials company's stock valued at $2,146,000 after purchasing an additional 1,581 shares in the last quarter. Bryce Point Capital LLC lifted its stake in FMC by 63.6% in the first quarter. Bryce Point Capital LLC now owns 18,845 shares of the basic materials company's stock valued at $775,000 after buying an additional 7,325 shares during the period. First National Advisers LLC lifted its stake in FMC by 1.8% in the first quarter. First National Advisers LLC now owns 29,352 shares of the basic materials company's stock valued at $1,239,000 after buying an additional 525 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of FMC by 11.7% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 43,450 shares of the basic materials company's stock worth $1,833,000 after purchasing an additional 4,549 shares during the period. Finally, Syntax Research Inc. raised its position in shares of FMC by 33.6% during the first quarter. Syntax Research Inc. now owns 40,201 shares of the basic materials company's stock worth $1,696,000 after purchasing an additional 10,101 shares during the period. 91.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FMC has been the topic of several recent analyst reports. Morgan Stanley lowered 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. Royal Bank Of Canada reduced their price target on FMC from $47.00 to $42.00 and set a "sector perform" rating for the company in a research note on Friday. Wells Fargo & Company raised FMC from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $41.00 to $50.00 in a report on Monday, June 23rd. Mizuho raised FMC from a "neutral" rating to an "outperform" rating and set a $49.00 price objective for the company in a report on Friday, April 25th. Finally, Barclays boosted their price target on FMC from $48.00 to $49.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $50.38.

FMC Trading Down 2.3%

NYSE FMC traded down $0.89 during trading hours on Friday, hitting $38.15. 868,524 shares of the company were exchanged, compared to its average volume of 2,605,932. The stock has a 50-day moving average price of $42.10 and a 200 day moving average price of $41.66. The company has a quick ratio of 1.12, a current ratio of 1.54 and a debt-to-equity ratio of 0.69. FMC Corporation has a 52 week low of $32.83 and a 52 week high of $67.75. The stock has a market cap of $4.77 billion, a PE ratio of 47.64, a price-to-earnings-growth ratio of 1.33 and a beta of 0.77.

FMC (NYSE:FMC - Get Free Report) last released its earnings results on Wednesday, July 30th. The basic materials company reported $0.69 EPS for the quarter, beating analysts' consensus estimates of $0.59 by $0.10. FMC had a return on equity of 9.32% and a net margin of 2.42%. The firm had revenue of $1.05 billion for the quarter, compared to analysts' expectations of $995.15 million. During the same quarter in the prior year, the firm posted $0.63 earnings per share. The company's quarterly revenue was up 1.2% on a year-over-year basis. Analysts forecast that FMC Corporation will post 3.48 earnings per share for the current fiscal year.

FMC Dividend Announcement

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 $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 6.1%. The ex-dividend date of this dividend is Tuesday, September 30th. FMC's dividend payout ratio is presently 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.