Pitcairn Co. Acquires 330 Shares of FMC Co. (NYSE:FMC)

Pitcairn Co. raised its holdings in shares of FMC Co. (NYSE:FMC) by 7.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,867 shares of the basic materials company’s stock after purchasing an additional 330 shares during the period. Pitcairn Co.’s holdings in FMC were worth $310,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of FMC. North Point Portfolio Managers Corp OH lifted its stake in FMC by 67.3% in the fourth quarter. North Point Portfolio Managers Corp OH now owns 118,531 shares of the basic materials company’s stock worth $7,473,000 after acquiring an additional 47,697 shares during the period. Norden Group LLC bought a new stake in shares of FMC during the 1st quarter valued at about $4,700,000. Leeward Investments LLC MA increased its position in shares of FMC by 62.8% during the first quarter. Leeward Investments LLC MA now owns 193,156 shares of the basic materials company’s stock valued at $12,304,000 after buying an additional 74,529 shares during the period. S&CO Inc. increased its position in shares of FMC by 6.7% during the fourth quarter. S&CO Inc. now owns 235,126 shares of the basic materials company’s stock valued at $14,824,000 after buying an additional 14,710 shares during the period. Finally, Raymond James & Associates raised its stake in FMC by 0.5% in the fourth quarter. Raymond James & Associates now owns 115,182 shares of the basic materials company’s stock worth $7,262,000 after buying an additional 610 shares in the last quarter. Hedge funds and other institutional investors own 91.86% of the company’s stock.

FMC Stock Performance

Shares of FMC stock traded up $1.99 on Thursday, reaching $58.94. The stock had a trading volume of 1,511,476 shares, compared to its average volume of 1,945,308. 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 stock has a market cap of $7.36 billion, a P/E ratio of 6.58, a price-to-earnings-growth ratio of 1.33 and a beta of 0.84. The company has a 50 day simple moving average of $58.16 and a 200 day simple moving average of $58.73.

FMC (NYSE:FMC) last issued its quarterly earnings data on Monday, May 6th. The basic materials company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.01. FMC had a net margin of 27.65% and a return on equity of 7.68%. The firm had revenue of $918.00 million for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the prior year, the business earned $1.77 EPS. The business’s quarterly revenue was down 31.7% on a year-over-year basis. Equities research analysts expect that FMC Co. will post 3.51 EPS for the current year.

FMC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Monday, September 30th will be given a dividend of $0.58 per share. The ex-dividend date is Monday, September 30th. This represents a $2.32 annualized dividend and a yield of 3.94%. FMC’s dividend payout ratio (DPR) is presently 25.89%.

Analyst Upgrades and Downgrades

FMC has been the topic of a number of research analyst reports. Royal Bank of Canada upped their target price on FMC from $65.00 to $81.00 and gave the stock an “outperform” rating in a report on Friday, May 10th. JPMorgan Chase & Co. lowered their price objective on FMC from $53.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, May 13th. StockNews.com raised shares of FMC from a “sell” rating to a “hold” rating in a research report on Wednesday, May 8th. KeyCorp lifted their price target on shares of FMC from $79.00 to $81.00 and gave the company an “overweight” rating in a research report on Wednesday, May 8th. Finally, Wells Fargo & Company dropped their price objective on shares of FMC from $68.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $69.71.

About FMC

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.