Auto Owners Insurance Co Cuts Position in FMC Corporation (NYSE:FMC)

Auto Owners Insurance Co decreased its holdings in FMC Corporation (NYSE:FMC) by 7.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 414,848 shares of the basic materials company’s stock after selling 35,152 shares during the quarter. Auto Owners Insurance Co owned about 0.33% of FMC worth $17,502,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Janus Henderson Group PLC raised its holdings in FMC by 0.5% in the 4th quarter. Janus Henderson Group PLC now owns 59,771 shares of the basic materials company’s stock worth $2,905,000 after purchasing an additional 286 shares during the period. Algert Global LLC increased its stake in FMC by 0.5% during the 4th quarter. Algert Global LLC now owns 59,052 shares of the basic materials company’s stock worth $2,871,000 after buying an additional 300 shares in the last quarter. Treasurer of the State of North Carolina increased its stake in FMC by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 54,754 shares of the basic materials company’s stock worth $2,662,000 after buying an additional 350 shares in the last quarter. Oak Thistle LLC increased its stake in FMC by 5.5% during the 1st quarter. Oak Thistle LLC now owns 7,653 shares of the basic materials company’s stock worth $323,000 after buying an additional 398 shares in the last quarter. Finally, Golden State Wealth Management LLC increased its stake in FMC by 66.6% during the 1st quarter. Golden State Wealth Management LLC now owns 1,006 shares of the basic materials company’s stock worth $42,000 after buying an additional 402 shares in the last quarter. Institutional investors and hedge funds own 91.86% of the company’s stock.

FMC Price Performance

FMC opened at $43.33 on Wednesday. The firm has a market cap of $5.41 billion, a price-to-earnings ratio of 16.54, a price-to-earnings-growth ratio of 1.36 and a beta of 0.77. FMC Corporation has a fifty-two week low of $32.83 and a fifty-two week high of $68.55. The company’s 50-day moving average price is $41.51 and its 200 day moving average price is $42.04. The company has a quick ratio of 1.12, a current ratio of 1.54 and a debt-to-equity ratio of 0.69.

FMC (NYSE:FMC) last posted its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.10. The business had revenue of $791.40 million during the quarter, compared to analysts’ expectations of $783.70 million. FMC had a net margin of 7.97% and a return on equity of 9.12%. The business’s revenue was down 13.8% on a year-over-year basis. During the same period last year, the firm posted $0.36 earnings per share. As a group, sell-side analysts expect that FMC Corporation will post 3.48 earnings per share for the current year.

FMC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 16th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 5.35%. The ex-dividend date is Tuesday, September 30th. FMC’s dividend payout ratio (DPR) is currently 88.55%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Wall Street Zen upgraded FMC from a “sell” rating to a “hold” rating in a research note on Saturday, June 14th. Mizuho upgraded FMC from a “neutral” rating to an “outperform” rating and set a $49.00 price target on the stock in a research note on Friday, April 25th. Barclays upped their price target on FMC from $48.00 to $49.00 and gave the stock an “overweight” rating in a research note on Monday, July 7th. Royal Bank Of Canada upped their price target on FMC from $40.00 to $47.00 and gave the stock a “sector perform” rating in a research note on Thursday, July 10th. Finally, KeyCorp increased their price objective on FMC from $53.00 to $61.00 and gave the company an “overweight” rating in a research note on Monday, July 14th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $51.15.

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.