King Luther Capital Management Corp Sells 392,273 Shares of FMC Co. (NYSE:FMC)

King Luther Capital Management Corp lowered its position in FMC Co. (NYSE:FMC) by 24.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,210,199 shares of the basic materials company’s stock after selling 392,273 shares during the quarter. King Luther Capital Management Corp owned about 0.97% of FMC worth $58,828,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Golden State Wealth Management LLC bought a new position in FMC in the fourth quarter valued at $29,000. Millburn Ridgefield Corp raised its holdings in shares of FMC by 186.2% during the 3rd quarter. Millburn Ridgefield Corp now owns 498 shares of the basic materials company’s stock valued at $33,000 after buying an additional 324 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in shares of FMC by 90.8% during the 3rd quarter. First Horizon Advisors Inc. now owns 517 shares of the basic materials company’s stock valued at $34,000 after buying an additional 246 shares in the last quarter. IFP Advisors Inc raised its holdings in shares of FMC by 65.3% during the 4th quarter. IFP Advisors Inc now owns 959 shares of the basic materials company’s stock valued at $47,000 after buying an additional 379 shares in the last quarter. Finally, Principal Securities Inc. raised its holdings in shares of FMC by 34.7% during the 4th quarter. Principal Securities Inc. now owns 990 shares of the basic materials company’s stock valued at $48,000 after buying an additional 255 shares in the last quarter. Institutional investors own 91.86% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Bank of America reissued an “underperform” rating and set a $48.00 price objective (down from $61.00) on shares of FMC in a report on Wednesday, February 5th. Citigroup raised their price objective on FMC from $55.00 to $61.00 and gave the company a “neutral” rating in a report on Wednesday, January 29th. 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. Wells Fargo & Company reissued a “cautious” rating on shares of FMC in a report on Thursday. Finally, Royal Bank of Canada lowered FMC from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $78.00 to $47.00 in a research report on Wednesday, February 5th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $52.23.

Insider Activity

In related news, Director Carol Anthony Davidson acquired 6,000 shares of the stock in a transaction on Wednesday, March 5th. The stock was acquired 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 owns 6,000 shares of the company’s stock, valued at $223,980. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael Finian Reilly sold 2,958 shares of FMC stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $55.25, for a total value of $163,429.50. Following the transaction, the executive vice president now 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 disclosure for this sale can be found here. 0.85% of the stock is currently owned by company insiders.

FMC Trading Up 0.8 %

NYSE FMC opened at $41.60 on Tuesday. FMC Co. has a fifty-two week low of $33.80 and a fifty-two week high of $68.72. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.24 and a current ratio of 1.64. The stock has a 50 day simple moving average of $45.51 and a two-hundred day simple moving average of $54.88. The stock has a market cap of $5.20 billion, a P/E ratio of 15.29, a price-to-earnings-growth ratio of 1.90 and a beta of 0.93.

FMC (NYSE:FMC) last released its quarterly earnings data on Tuesday, February 4th. The basic materials company reported $1.79 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.14. FMC had a return on equity of 9.67% and a net margin of 8.03%. On average, analysts forecast that FMC Co. will post 3.48 earnings per share for the current year.

FMC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 31st will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 5.58%. The ex-dividend date of this dividend is Monday, March 31st. FMC’s payout ratio is presently 85.29%.

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.