Public Sector Pension Investment Board Has $16.70 Million Stock Holdings in FMC Corporation (NYSE:FMC)

Key Points

• The Public Sector Pension Investment Board significantly increased its holdings in FMC Corporation by 1,121.4% in the first quarter, owning 395,840 shares valued at approximately $16.7 million.
• FMC Corporation reported earnings of $0.69 per share, exceeding estimates of $0.59, with revenue of $1.05 billion for the quarter, marking a 1.2% increase year-over-year.
• The company declared a quarterly dividend of $0.58 per share with a 6.6% yield and a payout ratio of 290%, to be paid on October 16th.

Public Sector Pension Investment Board increased its holdings in shares of FMC Corporation (NYSE:FMC - Free Report) by 1,121.4% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 395,840 shares of the basic materials company's stock after purchasing an additional 363,432 shares during the quarter. Public Sector Pension Investment Board owned 0.32% of FMC worth $16,700,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Financial Harvest LLC bought a new stake in FMC during the 1st quarter worth approximately $29,000. 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 purchasing an additional 402 shares in the last quarter. Central Pacific Bank Trust Division bought a new stake in FMC during the 1st quarter worth approximately $55,000. Canada Post Corp Registered Pension Plan bought a new stake in FMC during the 4th quarter worth approximately $62,000. Finally, UMB Bank n.a. increased its stake in 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 in the last quarter. 91.86% of the stock is owned by institutional investors.

FMC Stock Down 1.9%

FMC stock opened at $35.13 on Tuesday. The company has a current ratio of 1.53, a quick ratio of 1.14 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $4.39 billion, a PE ratio of 43.91, a PEG ratio of 1.11 and a beta of 0.75. FMC Corporation has a 1-year low of $32.83 and a 1-year high of $67.75. The business's 50 day simple moving average is $41.75 and its 200 day simple moving average is $40.63.

FMC (NYSE:FMC - Get Free Report) last posted its earnings results 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 business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $995.15 million. FMC had a return on equity of 9.36% and a net margin of 2.42%. The firm's revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.63 EPS. As a group, research analysts anticipate that FMC Corporation will post 3.48 EPS for the current year.

FMC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 16th. Investors of record on Tuesday, September 30th will be issued a dividend of $0.58 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 6.6%. FMC's payout ratio is presently 290.00%.

Analysts Set New Price Targets

A number of analysts recently issued reports on FMC shares. Mizuho raised FMC from a "neutral" rating to an "outperform" rating and set a $49.00 target price for the company in a research note on Friday, April 25th. Royal Bank Of Canada cut their target price on FMC from $47.00 to $42.00 and set a "sector perform" rating on the stock in a research note on Friday, August 1st. UBS Group cut their target price on FMC from $45.00 to $44.00 and set a "neutral" rating on the stock in a research note on Thursday, July 31st. Barclays boosted their target price on FMC from $48.00 to $49.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. Finally, KeyCorp boosted their target price on FMC from $53.00 to $61.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, FMC currently has a consensus rating of "Hold" and a consensus target price of $50.38.

FMC 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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