Seven Eight Capital LP Sells 7,502 Shares of FMC Co. (NYSE:FMC)

Seven Eight Capital LP trimmed its stake in shares of FMC Co. (NYSE:FMCFree Report) by 49.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,603 shares of the basic materials company’s stock after selling 7,502 shares during the quarter. Seven Eight Capital LP’s holdings in FMC were worth $509,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of FMC. Baird Financial Group Inc. lifted its holdings in shares of FMC by 3.1% during the fourth quarter. Baird Financial Group Inc. now owns 2,826 shares of the basic materials company’s stock worth $352,000 after buying an additional 84 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in FMC by 0.7% in the 1st quarter. Commonwealth Equity Services LLC now owns 14,050 shares of the basic materials company’s stock worth $1,715,000 after purchasing an additional 92 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in FMC by 68.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 228 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 93 shares during the period. Advisor Partners II LLC grew its position in shares of FMC by 3.4% during the 1st quarter. Advisor Partners II LLC now owns 3,681 shares of the basic materials company’s stock worth $450,000 after purchasing an additional 121 shares in the last quarter. Finally, Industrial Alliance Investment Management Inc. increased its holdings in shares of FMC by 1.7% during the first quarter. Industrial Alliance Investment Management Inc. now owns 7,679 shares of the basic materials company’s stock worth $1,010,000 after purchasing an additional 129 shares during the period. 86.91% of the stock is currently owned by institutional investors and hedge funds.

FMC Price Performance

Shares of FMC opened at $62.69 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.52 and a debt-to-equity ratio of 0.68. The stock has a market cap of $7.82 billion, a PE ratio of 5.95, a PEG ratio of 2.05 and a beta of 0.86. FMC Co. has a 12-month low of $49.49 and a 12-month high of $128.52. The business has a 50-day simple moving average of $56.80 and a two-hundred day simple moving average of $61.58.

FMC (NYSE:FMCGet Free Report) last released its quarterly earnings data on Tuesday, February 6th. The basic materials company reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.01). FMC had a net margin of 29.45% and a return on equity of 12.98%. The firm had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period in the prior year, the company earned $2.37 EPS. Analysts anticipate that FMC Co. will post 3.86 earnings per share for the current fiscal year.

FMC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 18th. Investors of record on Thursday, March 28th will be paid a $0.58 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $2.32 annualized dividend and a dividend yield of 3.70%. FMC’s dividend payout ratio is 22.03%.

Insider Activity at FMC

In related news, CFO Andrew D. Sandifer purchased 2,150 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was bought at an average price of $59.22 per share, with a total value of $127,323.00. Following the completion of the purchase, the chief financial officer now owns 50,088 shares in the company, valued at approximately $2,966,211.36. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.85% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

FMC has been the subject of several analyst reports. UBS Group lifted their price objective on FMC from $59.00 to $61.00 and gave the company a “neutral” rating in a report on Thursday, January 11th. Royal Bank of Canada cut their price objective on shares of FMC from $61.00 to $59.00 and set an “outperform” rating for the company in a research report on Thursday, February 8th. KeyCorp decreased their target price on shares of FMC from $80.00 to $76.00 and set an “overweight” rating on the stock in a report on Wednesday, February 7th. Bank of America downgraded shares of FMC from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $60.00 to $57.00 in a report on Tuesday, January 16th. Finally, StockNews.com lowered shares of FMC from a “hold” rating to a “sell” rating in a research report on Monday, March 4th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, FMC presently has an average rating of “Hold” and a consensus target price of $74.53.

Check Out Our Latest Report on FMC

About FMC

(Free Report)

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 include 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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Institutional Ownership by Quarter for FMC (NYSE:FMC)

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