New York State Common Retirement Fund Has $5.53 Million Stake in FMC Corporation (NYSE:FMC)

New York State Common Retirement Fund cut its position in shares of FMC Corporation (NYSE:FMC - Free Report) by 35.5% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 131,116 shares of the basic materials company's stock after selling 72,094 shares during the period. New York State Common Retirement Fund owned about 0.10% of FMC worth $5,532,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Resona Asset Management Co. Ltd. purchased a new position in FMC in the 4th quarter worth $37,000. Golden State Wealth Management LLC increased its stake in FMC by 66.6% during the 1st quarter. Golden State Wealth Management LLC now owns 1,006 shares of the basic materials company's stock worth $42,000 after buying an additional 402 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in FMC during the 1st quarter worth approximately $55,000. Canada Post Corp Registered Pension Plan purchased a new stake in FMC during the 4th quarter worth approximately $62,000. Finally, UMB Bank n.a. boosted its holdings in shares of FMC by 378.5% during the 1st quarter. UMB Bank n.a. now owns 1,914 shares of the basic materials company's stock worth $81,000 after purchasing an additional 1,514 shares during the last quarter. 91.86% of the stock is currently owned by hedge funds and other institutional investors.

FMC Stock Performance

Shares of NYSE:FMC traded up $1.31 during trading on Tuesday, hitting $43.33. 1,255,967 shares of the company traded hands, compared to its average volume of 2,028,609. The stock has a market capitalization of $5.41 billion, a price-to-earnings ratio of 16.54, a PEG ratio of 1.28 and a beta of 0.77. The business's fifty day moving average is $41.51 and its 200-day moving average is $42.04. FMC Corporation has a one year low of $32.83 and a one year high of $68.55. 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 (NYSE:FMC - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $0.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.08 by $0.10. The business had revenue of $791.40 million during the quarter, compared to analyst estimates of $783.70 million. FMC had a return on equity of 9.12% and a net margin of 7.97%. The business's revenue for the quarter was down 13.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.36 EPS. As a group, equities analysts predict that FMC Corporation will post 3.48 earnings per share for the current fiscal year.

FMC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 16th. Stockholders of record on Tuesday, September 30th will be issued a $0.58 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 5.35%. FMC's payout ratio is currently 88.55%.

Analyst Ratings Changes

Several research analysts have recently commented on FMC shares. Wells Fargo & Company raised shares of FMC from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $41.00 to $50.00 in a research note on Monday, June 23rd. KeyCorp upped their target price on FMC from $53.00 to $61.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. UBS Group upped their price objective on FMC from $41.00 to $45.00 and gave the company a "neutral" rating in a research note on Wednesday, July 9th. Mizuho raised 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. Finally, Wall Street Zen raised FMC from a "sell" rating to a "hold" rating in a report on Saturday, June 14th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $51.15.

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.