Kentucky Retirement Systems Insurance Trust Fund Reduces Stock Position in FMC Co. (NYSE:FMC)

Kentucky Retirement Systems Insurance Trust Fund lowered its position in shares of FMC Co. (NYSE:FMC) by 7.4% during the first quarter, Holdings Channel reports. The fund owned 4,117 shares of the basic materials company’s stock after selling 328 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in FMC were worth $262,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in FMC. Riverview Trust Co acquired a new position in shares of FMC in the 1st quarter valued at about $27,000. Financial Connections Group Inc. bought a new position in FMC during the fourth quarter valued at about $31,000. Benjamin F. Edwards & Company Inc. increased its stake in shares of FMC by 114.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 568 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 303 shares during the period. LRI Investments LLC acquired a new stake in FMC during the first quarter worth about $41,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in FMC by 827.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 686 shares of the basic materials company’s stock valued at $43,000 after purchasing an additional 612 shares in the last quarter. Institutional investors and hedge funds own 91.86% of the company’s stock.

Analysts Set New Price Targets

FMC has been the subject of several recent research reports. Wells Fargo & Company dropped their target price on shares of FMC from $68.00 to $62.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. Royal Bank of Canada lifted their price objective on shares of FMC from $65.00 to $81.00 and gave the company an “outperform” rating in a research note on Friday, May 10th. StockNews.com raised shares of FMC from a “sell” rating to a “hold” rating in a research note on Wednesday, May 8th. Redburn Atlantic raised shares of FMC from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 19th. Finally, Mizuho upped their price objective on shares of FMC from $55.00 to $57.00 and gave the company a “neutral” rating in a report on Tuesday, May 7th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, FMC has a consensus rating of “Hold” and a consensus target price of $69.71.

FMC Trading Down 1.8 %

Shares of NYSE:FMC traded down $1.06 during midday trading on Monday, reaching $58.54. The company had a trading volume of 543,208 shares, compared to its average volume of 1,929,646. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.46. FMC Co. has a 1-year low of $49.49 and a 1-year high of $96.81. The firm has a market cap of $7.31 billion, a price-to-earnings ratio of 6.65, a price-to-earnings-growth ratio of 1.41 and a beta of 0.84. The company has a fifty day simple moving average of $57.96 and a two-hundred day simple moving average of $58.70.

FMC (NYSE:FMC) last released its earnings results on Monday, May 6th. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. The firm had revenue of $918.00 million for the quarter, compared to analyst estimates of $1.01 billion. FMC had a return on equity of 7.68% and a net margin of 27.65%. The company’s revenue was down 31.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.77 EPS. Research analysts predict that FMC Co. will post 3.43 earnings per share for the current year.

FMC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Monday, September 30th will be paid a $0.58 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $2.32 dividend on an annualized basis and a yield of 3.96%. FMC’s payout ratio is 25.89%.

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.