FMC Co. (NYSE:FMC) Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS lowered its stake in FMC Co. (NYSE:FMC) by 37.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 13,430 shares of the basic materials company’s stock after selling 7,903 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in FMC were worth $653,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. D.A. Davidson & CO. grew its stake in FMC by 3.6% in the 4th quarter. D.A. Davidson & CO. now owns 14,324 shares of the basic materials company’s stock valued at $696,000 after acquiring an additional 497 shares during the period. CIBC Asset Management Inc grew its stake in FMC by 2.3% in the 4th quarter. CIBC Asset Management Inc now owns 17,826 shares of the basic materials company’s stock valued at $867,000 after acquiring an additional 393 shares during the period. Principal Securities Inc. grew its stake in FMC by 34.7% in the 4th quarter. Principal Securities Inc. now owns 990 shares of the basic materials company’s stock valued at $48,000 after acquiring an additional 255 shares during the period. WealthPlan Investment Management LLC grew its stake in FMC by 10.2% in the 4th quarter. WealthPlan Investment Management LLC now owns 37,946 shares of the basic materials company’s stock valued at $1,845,000 after acquiring an additional 3,504 shares during the period. Finally, WASHINGTON TRUST Co lifted its holdings in FMC by 35.3% in the 4th quarter. WASHINGTON TRUST Co now owns 1,883 shares of the basic materials company’s stock valued at $92,000 after purchasing an additional 491 shares in the last quarter. Institutional investors and hedge funds own 91.86% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on FMC. Morgan Stanley decreased their price objective on FMC from $70.00 to $46.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. StockNews.com lowered FMC from a “buy” rating to a “hold” rating in a report on Friday, February 14th. Redburn Atlantic lowered FMC from a “buy” rating to a “neutral” rating and set a $49.00 price objective on the stock. in a report on Friday, February 14th. Vertical Research upgraded FMC to a “hold” rating in a report on Wednesday, February 5th. Finally, Barclays decreased their price objective on FMC from $65.00 to $48.00 and set an “overweight” rating on the stock in a report on Friday, February 7th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $52.23.

FMC Stock Down 0.8 %

Shares of FMC opened at $37.69 on Thursday. The firm has a market cap of $4.71 billion, a P/E ratio of 13.86, a price-to-earnings-growth ratio of 1.82 and a beta of 0.84. FMC Co. has a 12-month low of $33.80 and a 12-month high of $68.72. The company’s 50-day moving average price is $48.60 and its 200 day moving average price is $57.09. 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 (NYSE:FMC) last issued its quarterly earnings data on Tuesday, February 4th. The basic materials company reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.14. FMC had a net margin of 8.03% and a return on equity of 9.67%. On average, sell-side analysts forecast that FMC Co. will post 3.48 earnings per share for the current year.

FMC Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Tuesday, December 31st were given a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 6.15%. The ex-dividend date was Tuesday, December 31st. FMC’s dividend payout ratio is currently 85.29%.

Insider Buying and Selling at FMC

In other FMC news, 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 completion of the transaction, the executive vice president now directly owns 25,468 shares of the company’s stock, valued at $1,407,107. The trade was a 10.41 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.81% of the stock is currently owned by corporate insiders.

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.