Old North State Wealth Management LLC Has $4.66 Million Holdings in FMC Corporation (NYSE:FMC)

Old North State Wealth Management LLC increased its position in FMC Corporation (NYSE:FMC - Free Report) by 89.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 110,326 shares of the basic materials company's stock after purchasing an additional 52,145 shares during the quarter. FMC makes up 2.6% of Old North State Wealth Management LLC's portfolio, making the stock its 10th biggest position. Old North State Wealth Management LLC owned 0.09% of FMC worth $4,655,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its position in shares of 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 worth $56,602,000 after purchasing an additional 28,059 shares during the last quarter. Raymond James Financial Inc. bought a new position in FMC during the fourth quarter worth about $5,573,000. SG Americas Securities LLC boosted its holdings in FMC by 560.3% during the first quarter. SG Americas Securities LLC now owns 14,982 shares of the basic materials company's stock worth $632,000 after buying an additional 12,713 shares during the last quarter. Norges Bank acquired a new position in shares of FMC during the 4th quarter worth about $49,888,000. Finally, Woodline Partners LP bought a new stake in shares of FMC in the 4th quarter valued at about $364,000. 91.86% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

FMC has been the topic of several recent analyst reports. The Goldman Sachs Group assumed coverage on shares of FMC in a research note on Thursday, March 13th. They set a "buy" rating and a $51.00 price objective on the stock. KeyCorp increased their target price on shares of FMC from $49.00 to $53.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Wall Street Zen raised shares of FMC from a "sell" rating to a "hold" rating in a report on Saturday, June 14th. UBS Group upped their price objective on shares of FMC from $38.00 to $41.00 and gave the company a "neutral" rating in a research report on Thursday, May 1st. Finally, Wells Fargo & Company raised FMC from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $41.00 to $50.00 in a research note on Monday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, FMC has a consensus rating of "Hold" and an average target price of $50.15.

FMC Stock Down 0.3%

FMC stock traded down $0.14 during trading hours on Friday, reaching $42.99. 1,556,192 shares of the stock were exchanged, compared to its average volume of 2,026,292. The firm's 50-day moving average is $40.16 and its 200-day moving average is $43.04. FMC Corporation has a 12 month low of $32.83 and a 12 month high of $68.55. The company has a market cap of $5.37 billion, a price-to-earnings ratio of 16.41, a PEG ratio of 1.27 and a beta of 0.76. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.54 and a quick ratio of 1.12.

FMC (NYSE:FMC - Get Free Report) last posted 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. FMC had a return on equity of 9.12% and a net margin of 7.97%. The business had revenue of $791.40 million during the quarter, compared to the consensus estimate of $783.70 million. During the same period last year, the company earned $0.36 earnings per share. FMC's quarterly revenue was down 13.8% on a year-over-year basis. On average, equities research analysts expect that FMC Corporation will post 3.48 earnings per share for the current year.

FMC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 17th. Stockholders of record on Monday, June 30th will be given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 5.40%. The ex-dividend date of this dividend is Monday, June 30th. FMC's dividend payout ratio is presently 88.55%.

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.