NorthCrest Asset Manangement LLC Takes $255,000 Position in FMC Co. (NYSE:FMC)

NorthCrest Asset Manangement LLC purchased a new stake in shares of FMC Co. (NYSE:FMC - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 6,034 shares of the basic materials company's stock, valued at approximately $255,000.

Other hedge funds have also bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its stake in FMC by 2.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,164,403 shares of the basic materials company's stock valued at $56,602,000 after buying an additional 28,059 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of FMC in the fourth quarter worth $5,573,000. Asset Management One Co. Ltd. raised its stake in shares of FMC by 21.6% during the 4th quarter. Asset Management One Co. Ltd. now owns 3,416 shares of the basic materials company's stock valued at $167,000 after purchasing an additional 607 shares during the period. Norges Bank bought a new stake in shares of FMC during the 4th quarter valued at $49,888,000. Finally, Woodline Partners LP purchased a new stake in FMC during the 4th quarter worth about $364,000. 91.86% of the stock is currently owned by institutional investors.

FMC Stock Up 2.8%

Shares of FMC opened at $42.75 on Tuesday. FMC Co. has a 12-month low of $32.83 and a 12-month high of $68.55. The company has a current ratio of 1.64, a quick ratio of 1.24 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $5.34 billion, a PE ratio of 15.72, a price-to-earnings-growth ratio of 1.90 and a beta of 0.76. The business's 50 day moving average is $39.38 and its 200 day moving average is $43.73.

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 for the quarter, beating analysts' consensus estimates of $0.08 by $0.10. FMC had a return on equity of 9.67% and a net margin of 8.03%. The firm had revenue of $791.40 million during the quarter, compared to analyst estimates of $783.70 million. During the same quarter last year, the business posted $0.36 earnings per share. The business's quarterly revenue was down 13.8% compared to the same quarter last year. Research analysts expect that FMC Co. will post 3.48 earnings per share for the current fiscal year.

FMC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 17th. Shareholders of record on Monday, June 30th will be paid a $0.58 dividend. The ex-dividend date is Monday, June 30th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 5.43%. FMC's payout ratio is currently 88.55%.

Wall Street Analyst Weigh In

Several brokerages recently commented on FMC. 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 note on Friday, April 25th. UBS Group raised their price target on shares of FMC from $38.00 to $41.00 and gave the company a "neutral" rating in a report on Thursday, May 1st. The Goldman Sachs Group began coverage on shares of FMC in a report on Thursday, March 13th. They issued a "buy" rating and a $51.00 price target on the stock. KeyCorp increased their price objective on FMC from $49.00 to $53.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Finally, Wall Street Zen raised FMC from a "sell" rating to a "hold" rating in a research note on Saturday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $49.46.

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.

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