Maryland State Retirement & Pension System Increases Stake in FMC Corporation (NYSE:FMC)

Key Points

• Maryland State Retirement & Pension System significantly increased its investment in FMC Corporation, acquiring an additional 35,154 shares, bringing its total holdings to 42,275 shares valued at approximately $1.78 million.
• FMC recently announced a quarterly dividend of $0.58, yielding 6.5%, with an ex-dividend date set for September 30th.
• The company reported earnings of $0.69 per share for the last quarter, exceeding analysts' expectations of $0.59, while revenue grew to $1.05 billion.

Maryland State Retirement & Pension System lifted its position in FMC Corporation (NYSE:FMC - Free Report) by 493.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 42,275 shares of the basic materials company's stock after purchasing an additional 35,154 shares during the quarter. Maryland State Retirement & Pension System's holdings in FMC were worth $1,784,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Janus Henderson Group PLC raised its stake in FMC by 0.5% in the fourth quarter. Janus Henderson Group PLC now owns 59,771 shares of the basic materials company's stock worth $2,905,000 after buying an additional 286 shares in the last quarter. Algert Global LLC increased its stake in shares of FMC by 0.5% during the fourth quarter. Algert Global LLC now owns 59,052 shares of the basic materials company's stock valued at $2,871,000 after purchasing an additional 300 shares in the last quarter. Treasurer of the State of North Carolina increased its stake in shares of FMC by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 54,754 shares of the basic materials company's stock valued at $2,662,000 after purchasing an additional 350 shares in the last quarter. Oak Thistle LLC increased its stake in shares of FMC by 5.5% during the first quarter. Oak Thistle LLC now owns 7,653 shares of the basic materials company's stock valued at $323,000 after purchasing an additional 398 shares in the last quarter. Finally, Golden State Wealth Management LLC increased its stake in shares of 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 valued at $42,000 after purchasing an additional 402 shares in the last quarter. Institutional investors own 91.86% of the company's stock.

FMC Stock Performance

NYSE:FMC remained flat at $35.13 during midday trading on Tuesday. 2,082,375 shares of the company were exchanged, compared to its average volume of 1,886,159. FMC Corporation has a 12 month low of $32.83 and a 12 month high of $67.75. The firm has a 50-day moving average price of $41.65 and a 200-day moving average price of $40.59. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.53 and a quick ratio of 1.14. The company has a market cap of $4.39 billion, a PE ratio of 43.91, a PEG ratio of 1.09 and a beta of 0.75.

FMC (NYSE:FMC - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The basic materials company reported $0.69 earnings per share for the quarter, topping analysts' consensus estimates of $0.59 by $0.10. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $995.15 million. FMC had a net margin of 2.42% and a return on equity of 9.36%. The business's quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.63 earnings per share. Research analysts anticipate that FMC Corporation will post 3.48 earnings per share for the current year.

FMC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 16th. Stockholders of record on Tuesday, September 30th will be given a $0.58 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $2.32 annualized dividend and a dividend yield of 6.6%. FMC's dividend payout ratio (DPR) is 290.00%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. KeyCorp raised their target price 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. Royal Bank Of Canada decreased their target price on shares of FMC from $47.00 to $42.00 and set a "sector perform" rating for the company in a research note on Friday, August 1st. Wall Street Zen raised shares of FMC from a "sell" rating to a "hold" rating in a research note on Saturday, June 14th. 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 research report on Friday, April 25th. Finally, UBS Group reduced their price target on shares of FMC from $45.00 to $44.00 and set a "neutral" rating for the company in a research report on Thursday, July 31st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $50.38.

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.