Portside Wealth Group LLC Has $408,000 Position in FMC Co. (NYSE:FMC)

Portside Wealth Group LLC trimmed its stake in shares of FMC Co. (NYSE:FMC) by 34.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,084 shares of the basic materials company’s stock after selling 3,787 shares during the quarter. Portside Wealth Group LLC’s holdings in FMC were worth $408,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Riverview Trust Co acquired a new position in FMC in the 1st quarter valued at approximately $27,000. Benjamin F. Edwards & Company Inc. raised its position in FMC by 114.3% during the 1st 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 last quarter. LRI Investments LLC acquired a new position in FMC during the 1st quarter worth about $39,000. EverSource Wealth Advisors LLC lifted its holdings in FMC by 827.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 686 shares of the basic materials company’s stock worth $43,000 after buying an additional 612 shares during the period. Finally, Sentry Investment Management LLC bought a new stake in shares of FMC in the 1st quarter valued at about $45,000. Institutional investors own 91.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on FMC. BMO Capital Markets boosted their target price on shares of FMC from $60.00 to $65.00 and gave the company a “market perform” rating in a research report on Friday, August 2nd. StockNews.com raised shares of FMC from a “sell” rating to a “hold” rating in a research report on Wednesday, May 8th. Wells Fargo & Company decreased their target price on FMC from $68.00 to $62.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. KeyCorp cut their price target on FMC from $81.00 to $79.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. boosted their price objective on FMC from $50.00 to $59.00 and gave the company a “neutral” rating in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, FMC presently has an average rating of “Hold” and an average price target of $68.63.

FMC Stock Performance

Shares of NYSE FMC traded up $0.82 during midday trading on Friday, reaching $63.20. The company’s stock had a trading volume of 944,846 shares, compared to its average volume of 1,948,073. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.48 and a quick ratio of 1.02. The stock has a market capitalization of $7.89 billion, a P/E ratio of 7.05, a PEG ratio of 1.65 and a beta of 0.84. The firm has a 50 day moving average price of $58.12 and a 200-day moving average price of $59.09. FMC Co. has a 12-month low of $49.49 and a 12-month high of $90.33.

FMC (NYSE:FMC) last posted its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.08. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. FMC had a return on equity of 7.52% and a net margin of 33.97%. The business’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.50 earnings per share. As a group, equities analysts predict that FMC Co. will post 3.17 earnings per share for the current year.

FMC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.58 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $2.32 annualized dividend and a dividend yield of 3.67%. FMC’s payout ratio is currently 25.89%.

FMC 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.