Steel Grove Capital Advisors LLC Purchases New Shares in FMC Corporation (NYSE:FMC)

Steel Grove Capital Advisors LLC acquired a new position in FMC Corporation (NYSE:FMC - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 35,278 shares of the basic materials company's stock, valued at approximately $1,488,000.

Several other hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in shares of FMC in the 4th quarter valued at about $49,888,000. Invesco Ltd. grew its holdings in FMC by 37.8% in the fourth quarter. Invesco Ltd. now owns 3,559,107 shares of the basic materials company's stock valued at $173,008,000 after purchasing an additional 977,110 shares during the period. Dimensional Fund Advisors LP increased its position in shares of FMC by 44.8% in 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 buying an additional 707,727 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of FMC by 48.9% during the 4th quarter. Bank of New York Mellon Corp now owns 2,088,235 shares of the basic materials company's stock worth $101,509,000 after buying an additional 685,995 shares during the period. Finally, Balyasny Asset Management L.P. raised its stake in shares of FMC by 762.4% during the 4th quarter. Balyasny Asset Management L.P. now owns 484,040 shares of the basic materials company's stock worth $23,529,000 after buying an additional 427,915 shares during the period. 91.86% of the stock is owned by hedge funds and other institutional investors.

FMC Trading Down 0.6%

NYSE FMC opened at $41.62 on Thursday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.12 and a current ratio of 1.54. The firm has a market cap of $5.20 billion, a price-to-earnings ratio of 15.88, a PEG ratio of 1.26 and a beta of 0.76. The firm has a 50 day simple moving average of $39.56 and a 200-day simple moving average of $43.70. FMC Corporation has a one year low of $32.83 and a one year high of $68.55.

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

FMC Dividend Announcement

The business 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 dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 5.57%. The ex-dividend date is Monday, June 30th. FMC's dividend payout ratio is presently 88.55%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Wall Street Zen raised shares of FMC from a "sell" rating to a "hold" rating in a research note on Saturday, June 14th. UBS Group lifted their target price 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. KeyCorp boosted their target price on shares of FMC from $49.00 to $53.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. The Goldman Sachs Group assumed coverage on FMC in a report on Thursday, March 13th. They issued a "buy" rating and a $51.00 price objective on the stock. Finally, Mizuho raised FMC from a "neutral" rating to an "outperform" rating and set a $49.00 target price for the company in a report on Friday, April 25th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company. According to MarketBeat, FMC has a consensus rating of "Hold" and an average target price of $49.46.

FMC Company 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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