FMC Corporation (NYSE:FMC) Shares Purchased by State of Alaska Department of Revenue

State of Alaska Department of Revenue increased its holdings in FMC Corporation (NYSE:FMC - Free Report) by 842.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 134,170 shares of the basic materials company's stock after acquiring an additional 119,930 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.11% of FMC worth $5,660,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of FMC by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 15,291,878 shares of the basic materials company's stock valued at $743,338,000 after buying an additional 180,766 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of FMC by 7.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,375,911 shares of the basic materials company's stock valued at $212,714,000 after buying an additional 321,241 shares during the last quarter. Invesco Ltd. increased its holdings in shares of FMC by 37.8% during the fourth quarter. Invesco Ltd. now owns 3,559,107 shares of the basic materials company's stock valued at $173,008,000 after acquiring an additional 977,110 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of FMC by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 2,995,691 shares of the basic materials company's stock valued at $145,452,000 after acquiring an additional 54,017 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of FMC by 44.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,286,177 shares of the basic materials company's stock valued at $111,131,000 after acquiring an additional 707,727 shares in the last quarter. 91.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on FMC shares. 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 report on Thursday, May 1st. Mizuho upgraded shares of FMC from a "neutral" rating to an "outperform" rating and set a $49.00 price objective on the stock in a report on Friday, April 25th. The Goldman Sachs Group started coverage on shares of FMC in a report on Thursday, March 13th. They set a "buy" rating and a $51.00 price objective on the stock. KeyCorp upped their price objective on shares of FMC from $49.00 to $53.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Finally, Wall Street Zen upgraded shares of FMC from a "sell" rating to a "hold" rating in a report on Saturday, June 14th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $49.46.

FMC Stock Performance

NYSE:FMC traded down $0.55 during midday trading on Friday, hitting $41.07. The company's stock had a trading volume of 2,360,968 shares, compared to its average volume of 2,029,681. FMC Corporation has a fifty-two week low of $32.83 and a fifty-two week high of $68.55. The firm's 50 day moving average is $39.75 and its 200-day moving average is $43.45. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.54 and a quick ratio of 1.12. The firm has a market cap of $5.13 billion, a P/E ratio of 15.68, a P/E/G ratio of 1.26 and a beta of 0.76.

FMC (NYSE:FMC - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $0.18 EPS for the quarter, topping analysts' consensus estimates of $0.08 by $0.10. The business had revenue of $791.40 million for the quarter, compared to analysts' expectations of $783.70 million. FMC had a net margin of 7.97% and a return on equity of 9.12%. The business's revenue was down 13.8% on a year-over-year basis. During the same quarter last year, the company earned $0.36 EPS. Equities analysts anticipate that FMC Corporation will post 3.48 earnings per share for the current fiscal year.

FMC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 17th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.58 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 5.65%. FMC's payout ratio is 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.