Employees Retirement System of Texas Boosts Stake in FMC Co. (NYSE:FMC)

Employees Retirement System of Texas boosted its holdings in shares of FMC Co. (NYSE:FMC) by 18.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 90,210 shares of the basic materials company’s stock after acquiring an additional 14,030 shares during the period. Employees Retirement System of Texas owned 0.07% of FMC worth $43,851,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Golden State Wealth Management LLC purchased a new stake in shares of FMC in the fourth quarter valued at approximately $29,000. EverSource Wealth Advisors LLC grew its holdings in FMC by 217.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 746 shares of the basic materials company’s stock valued at $36,000 after buying an additional 511 shares in the last quarter. Resona Asset Management Co. Ltd. purchased a new position in shares of FMC during the 4th quarter worth $37,000. Wilmington Savings Fund Society FSB acquired a new position in shares of FMC during the 3rd quarter valued at about $58,000. Finally, IFP Advisors Inc grew its holdings in shares of FMC by 65.3% in the fourth quarter. IFP Advisors Inc now owns 959 shares of the basic materials company’s stock valued at $47,000 after purchasing an additional 379 shares during the period. Institutional investors and hedge funds own 91.86% of the company’s stock.

FMC Trading Down 9.3 %

NYSE:FMC opened at $35.33 on Monday. The stock has a fifty day moving average price of $41.54 and a 200 day moving average price of $51.95. The company has a current ratio of 1.64, a quick ratio of 1.24 and a debt-to-equity ratio of 0.67. FMC Co. has a 12-month low of $33.80 and a 12-month high of $68.72. The firm has a market cap of $4.41 billion, a PE ratio of 12.99, a price-to-earnings-growth ratio of 1.90 and a beta of 0.83.

FMC (NYSE:FMC) last released its earnings results on Tuesday, February 4th. The basic materials company reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.14. FMC had a net margin of 8.03% and a return on equity of 9.67%. Sell-side analysts anticipate that FMC Co. will post 3.48 earnings per share for the current fiscal year.

FMC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, March 31st will be paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 6.57%. The ex-dividend date of this dividend is Monday, March 31st. FMC’s payout ratio is 85.29%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. BMO Capital Markets reduced their target price on shares of FMC from $62.00 to $50.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 5th. Bank of America reiterated an “underperform” rating and issued a $48.00 price objective (down from $61.00) on shares of FMC in a report on Wednesday, February 5th. UBS Group cut FMC from a “buy” rating to a “neutral” rating and cut their target price for the stock from $66.00 to $38.00 in a research note on Friday, February 7th. Wells Fargo & Company reiterated a “cautious” rating on shares of FMC in a report on Thursday, March 6th. Finally, Barclays reduced their price objective on shares of FMC from $65.00 to $48.00 and set an “overweight” rating on the stock in a report on Friday, February 7th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $51.15.

Insider Buying and Selling

In related news, Director Carol Anthony Davidson acquired 6,000 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was bought at an average price of $37.33 per share, for a total transaction of $223,980.00. Following the completion of the purchase, the director now directly owns 6,000 shares of the company’s stock, valued at approximately $223,980. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael Finian Reilly sold 2,958 shares of FMC stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $55.25, for a total value of $163,429.50. Following the sale, the executive vice president now owns 25,468 shares in the company, valued at $1,407,107. This trade represents a 10.41 % decrease in their position. The disclosure for this sale can be found here. 0.67% of the stock is owned by company insiders.

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.