Allspring Global Investments Holdings LLC Reduces Stock Position in FMC Co. (NYSE:FMC)

Allspring Global Investments Holdings LLC trimmed its holdings in FMC Co. (NYSE:FMC) by 3.6% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 6,383 shares of the basic materials company’s stock after selling 237 shares during the period. Allspring Global Investments Holdings LLC’s holdings in FMC were worth $402,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. North Point Portfolio Managers Corp OH grew its position 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. Raymond James & Associates grew its position 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 acquiring an additional 610 shares during the period. Manning & Napier Group LLC lifted its stake in FMC by 58.9% during the third quarter. Manning & Napier Group LLC now owns 2,249,633 shares of the basic materials company’s stock worth $150,658,000 after purchasing an additional 833,845 shares in the last quarter. Invesco Ltd. lifted its stake in FMC by 37.9% during the third quarter. Invesco Ltd. now owns 1,764,469 shares of the basic materials company’s stock worth $118,166,000 after purchasing an additional 484,500 shares in the last quarter. Finally, Nordea Investment Management AB lifted its stake in FMC by 15.4% during the third quarter. Nordea Investment Management AB now owns 14,195 shares of the basic materials company’s stock worth $950,000 after purchasing an additional 1,889 shares in the last quarter. 91.86% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on FMC shares. Mizuho decreased their price target on FMC from $59.00 to $55.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 6th. BMO Capital Markets decreased their price target on FMC from $63.00 to $61.00 and set a “market perform” rating on the stock in a research note on Wednesday, February 7th. UBS Group upgraded FMC from a “neutral” rating to a “buy” rating and upped their price target for the stock from $61.00 to $84.00 in a research note on Wednesday, March 20th. Royal Bank of Canada reduced their price objective on FMC from $61.00 to $59.00 and set an “outperform” rating on the stock in a research note on Thursday, February 8th. Finally, Roth Mkm began coverage on FMC in a research note on Thursday, January 4th. They issued a “buy” rating and a $74.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $71.75.

FMC Trading Up 1.1 %

Shares of FMC stock opened at $58.46 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.01. FMC Co. has a 1 year low of $49.49 and a 1 year high of $124.61. The company has a market capitalization of $7.30 billion, a P/E ratio of 5.55, a P/E/G ratio of 1.88 and a beta of 0.87. The business has a 50 day moving average price of $59.45 and a 200 day moving average price of $58.06.

FMC (NYSE:FMC) last issued its quarterly earnings data on Tuesday, February 6th. The basic materials company reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.01). FMC had a return on equity of 12.98% and a net margin of 29.45%. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the prior year, the firm earned $2.37 earnings per share. Sell-side analysts anticipate that FMC Co. will post 3.88 EPS for the current fiscal year.

FMC Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Thursday, March 28th were given a dividend of $0.58 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $2.32 annualized dividend and a dividend yield of 3.97%. FMC’s dividend payout ratio is currently 22.03%.

Insider Buying and Selling

In related news, CFO Andrew D. Sandifer acquired 2,150 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was purchased at an average cost of $59.22 per share, for a total transaction of $127,323.00. Following the transaction, the chief financial officer now directly owns 50,088 shares of the company’s stock, valued at approximately $2,966,211.36. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.85% of the company’s stock.

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.