Reinhart Partners LLC. Trims Position in FMC Co. (NYSE:FMC)

Reinhart Partners LLC. decreased its position in shares of FMC Co. (NYSE:FMC - Free Report) by 5.4% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 215,043 shares of the basic materials company's stock after selling 12,285 shares during the quarter. Reinhart Partners LLC. owned approximately 0.17% of FMC worth $9,073,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of FMC. Caprock Group LLC purchased a new position in shares of FMC in the fourth quarter valued at about $208,000. abrdn plc raised its stake in FMC by 98.4% during the 4th quarter. abrdn plc now owns 18,760 shares of the basic materials company's stock valued at $902,000 after purchasing an additional 9,303 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in FMC by 53.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,363 shares of the basic materials company's stock worth $704,000 after purchasing an additional 5,025 shares in the last quarter. Golden State Wealth Management LLC purchased a new position in FMC in the 4th quarter worth approximately $29,000. Finally, Wilmington Savings Fund Society FSB boosted its stake in FMC by 60.1% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 1,409 shares of the basic materials company's stock worth $68,000 after purchasing an additional 529 shares during the period. Hedge funds and other institutional investors own 91.86% of the company's stock.

FMC Stock Performance

NYSE:FMC opened at $42.80 on Friday. The firm has a market capitalization of $5.35 billion, a PE ratio of 15.74, a PEG ratio of 1.90 and a beta of 0.76. The stock's fifty day moving average is $38.59 and its 200 day moving average is $44.60. FMC Co. has a fifty-two week low of $32.83 and a fifty-two week high of $68.55. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.24 and a current ratio of 1.64.

FMC (NYSE:FMC - Get Free Report) last announced its earnings results on Wednesday, April 30th. The basic materials company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.10. FMC had a net margin of 8.03% and a return on equity of 9.67%. The business had revenue of $791.40 million for the quarter, compared to the consensus estimate of $783.70 million. During the same quarter in the prior year, the firm posted $0.36 earnings per share. The business's revenue for the quarter was down 13.8% on a year-over-year basis. On average, sell-side analysts anticipate that FMC Co. will post 3.48 earnings per share for the current year.

FMC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 17th. Shareholders of record on Monday, June 30th will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.32 annualized dividend and a dividend yield of 5.42%. FMC's dividend payout ratio (DPR) is presently 88.55%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on FMC shares. Barclays reduced their price objective on shares of FMC from $65.00 to $48.00 and set an "overweight" rating on the stock in a research report on Friday, February 7th. Wells Fargo & Company reduced their price target on shares of FMC from $43.00 to $41.00 and set an "equal weight" rating on the stock in a report on Monday, April 21st. The Goldman Sachs Group initiated coverage on shares of FMC in a report on Thursday, March 13th. They set a "buy" rating and a $51.00 price objective for the company. Redburn Atlantic lowered FMC from a "buy" rating to a "neutral" rating and set a $49.00 price objective for the company. in a research report on Friday, February 14th. Finally, KeyCorp lifted their target price on FMC from $49.00 to $53.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $49.46.

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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