Public Employees Retirement System of Ohio Purchases Shares of 102,132 FMC Corporation $FMC

Key Points

• Public Employees Retirement System of Ohio initiated a position of 102,132 FMC shares worth approximately $1.175 million, while institutional investors collectively own 91.86% of the company.
• FMC’s latest quarterly results exceeded expectations on earnings, with EPS of $0.26 versus the $0.22 consensus, but revenue fell 17.5% year over year to $841.4 million.
• Shares opened at $12.85, and analysts maintain a consensus “Hold” rating with an average price target of $14.25. FMC also declared a quarterly dividend of $0.08 per share, representing a 2.5% yield.

Public Employees Retirement System of Ohio purchased a new position in shares of FMC Corporation (NYSE:FMC - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 102,132 shares of the basic materials company's stock, valued at approximately $1,175,000. Public Employees Retirement System of Ohio owned about 0.08% of FMC at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of FMC. Glenmede Trust Co. NA grew its holdings in shares of FMC by 14.9% during the 1st quarter. Glenmede Trust Co. NA now owns 12,427 shares of the basic materials company's stock worth $214,000 after purchasing an additional 1,614 shares during the period. Root Financial Partners LLC lifted its position in FMC by 3,642.9% during the first quarter. Root Financial Partners LLC now owns 1,834 shares of the basic materials company's stock valued at $32,000 after buying an additional 1,785 shares in the last quarter. Essential Partners LLC acquired a new position in FMC during the first quarter valued at approximately $43,000. Parallel Advisors LLC grew its stake in FMC by 297.2% during the first quarter. Parallel Advisors LLC now owns 6,264 shares of the basic materials company's stock worth $108,000 after buying an additional 4,687 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in FMC by 11.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,448 shares of the basic materials company's stock worth $2,171,000 after buying an additional 5,091 shares during the period. 91.86% of the stock is currently owned by hedge funds and other institutional investors.

FMC Price Performance

FMC stock opened at $12.85 on Wednesday. The stock's 50 day moving average is $11.15 and its two-hundred day moving average is $13.08. FMC Corporation has a 52-week low of $9.94 and a 52-week high of $38.68. The company has a market capitalization of $1.61 billion, a PE ratio of -0.58 and a beta of 0.41. The company has a quick ratio of 1.48, a current ratio of 1.99 and a debt-to-equity ratio of 2.38.

FMC (NYSE:FMC - Get Free Report) last released its earnings results on Wednesday, July 29th. The basic materials company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.22 by $0.04. FMC had a positive return on equity of 11.35% and a negative net margin of 84.83%.The company had revenue of $841.40 million during the quarter, compared to analysts' expectations of $895.14 million. During the same period in the prior year, the business posted $0.69 EPS. The business's revenue was down 17.5% on a year-over-year basis. Analysts predict that FMC Corporation will post 1.27 earnings per share for the current fiscal year.

FMC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Wednesday, September 30th. FMC's dividend payout ratio (DPR) is currently -1.45%.

Wall Street Analyst Weigh In

FMC has been the subject of several recent research reports. The Goldman Sachs Group reissued a "buy" rating and issued a $18.00 price objective on shares of FMC in a research report on Friday, July 31st. Weiss Ratings restated a "sell (d-)" rating on shares of FMC in a report on Wednesday, August 26th. Citigroup reiterated a "buy" rating on shares of FMC in a report on Tuesday, August 4th. Mizuho set a $16.00 price objective on FMC in a research note on Tuesday, July 14th. Finally, BMO Capital Markets set a $14.00 target price on FMC in a research report on Friday, July 3rd. Three equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $14.25.

About FMC

FMC Corporation is a global agricultural sciences company specializing in the development, manufacture and marketing of crop protection products. Its portfolio includes herbicides, insecticides, fungicides and plant nutrition solutions designed to enhance crop yield, quality and sustainability. In addition to core crop protection, FMC delivers solutions for turf management and pest control in urban and industrial environments.

Founded in 1883 as the Bean Spray Pump Company and later known as Food Machinery Corporation, the business adopted the FMC name in 1948 and has since evolved through strategic acquisitions and divestitures.

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