Wellington Management Group LLP Buys 138,098 Shares of FMC Corporation $FMC

Key Points

• Wellington Management Group increased its FMC stake by 142.4% in the second quarter, purchasing 138,098 additional shares for a total of 235,089 shares valued at approximately $2.7 million.
• Analyst sentiment remains mixed, with three Buy, eight Hold, and three Sell ratings; the consensus rating is Hold with an average price target of $14.25.
• FMC reported quarterly EPS of $0.26, beating estimates, but revenue fell 17.5% year over year to $841.4 million. The company declared a quarterly dividend of $0.08 per share, representing a 2.6% annualized yield.

Wellington Management Group LLP boosted its stake in shares of FMC Corporation (NYSE:FMC - Free Report) by 142.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 235,089 shares of the basic materials company's stock after purchasing an additional 138,098 shares during the period. Wellington Management Group LLP owned 0.19% of FMC worth $2,704,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the stock. Root Financial Partners LLC boosted its holdings in shares of FMC by 3,642.9% in the 1st 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 during the last quarter. Essential Partners LLC bought a new stake in FMC during the first quarter worth $43,000. Armistice Capital LLC acquired a new stake in FMC in the third quarter valued at $204,000. Parallel Advisors LLC grew its position in shares of FMC by 297.2% in the 1st quarter. Parallel Advisors LLC now owns 6,264 shares of the basic materials company's stock valued at $108,000 after acquiring an additional 4,687 shares during the period. Finally, Entropy Technologies LP acquired a new position in shares of FMC during the 3rd quarter worth about $267,000. Institutional investors and hedge funds own 91.86% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Zacks Research cut FMC from a "hold" rating to a "strong sell" rating in a report on Wednesday, July 1st. Citigroup reaffirmed a "buy" rating on shares of FMC in a research report on Tuesday, August 4th. Royal Bank Of Canada reduced their target price on FMC from $12.00 to $11.00 and set a "sector perform" rating for the company in a research note on Monday, August 3rd. The Goldman Sachs Group reissued a "buy" rating and set a $18.00 target price on shares of FMC in a report on Friday, July 31st. Finally, Morgan Stanley dropped their price target on FMC from $15.50 to $12.00 and set an "equal weight" rating on the stock in a research note on Friday, July 31st. Three research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $14.25.

FMC Trading Down 1.4%

Shares of FMC stock opened at $12.11 on Friday. The stock has a market cap of $1.52 billion, a P/E ratio of -0.55 and a beta of 0.41. FMC Corporation has a 1 year low of $9.94 and a 1 year high of $38.68. The company has a current ratio of 1.99, a quick ratio of 1.48 and a debt-to-equity ratio of 2.38. The stock has a 50 day simple moving average of $11.20 and a 200 day simple moving average of $13.05.

FMC (NYSE:FMC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The basic materials company reported $0.26 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.04. The firm had revenue of $841.40 million for the quarter, compared to analyst estimates of $895.14 million. FMC had a positive return on equity of 11.35% and a negative net margin of 84.83%.The company's revenue was down 17.5% on a year-over-year basis. During the same quarter last year, the company earned $0.69 EPS. On average, research analysts predict that FMC Corporation will post 1.27 earnings per share for the current fiscal year.

FMC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Wednesday, September 30th. FMC's payout ratio is -1.45%.

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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