Pullen Investment Management LLC Makes New $314,000 Investment in FMC Co. (NYSE:FMC)

Pullen Investment Management LLC bought a new stake in shares of FMC Co. (NYSE:FMC) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 7,446 shares of the basic materials company’s stock, valued at approximately $314,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of FMC. EverSource Wealth Advisors LLC grew its holdings in shares of FMC by 217.4% in the fourth quarter. EverSource Wealth Advisors LLC now owns 746 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 511 shares during the period. Resona Asset Management Co. Ltd. purchased a new position in FMC in the fourth quarter worth about $37,000. IFP Advisors Inc boosted its position in FMC by 65.3% in the fourth quarter. IFP Advisors Inc now owns 959 shares of the basic materials company’s stock worth $47,000 after purchasing an additional 379 shares during the last quarter. Principal Securities Inc. grew its stake 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 purchasing an additional 255 shares during the period. Finally, Canada Post Corp Registered Pension Plan bought a new stake in shares of FMC during the 4th quarter valued at about $62,000. 91.86% of the stock is owned by institutional investors.

FMC Price Performance

NYSE:FMC opened at $41.44 on Friday. The business’s 50-day simple moving average is $39.21 and its two-hundred day simple moving average is $44.06. FMC Co. has a 52 week low of $32.83 and a 52 week high of $68.55. The stock has a market cap of $5.18 billion, a PE ratio of 15.24, a P/E/G ratio of 1.90 and a beta of 0.76. The company has a quick ratio of 1.24, a current ratio of 1.64 and a debt-to-equity ratio of 0.67.

FMC (NYSE:FMC) last issued its earnings results 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. FMC had a return on equity of 9.67% and a net margin of 8.03%. The company had revenue of $791.40 million for the quarter, compared to the consensus estimate of $783.70 million. During the same quarter last year, the company earned $0.36 EPS. The firm’s quarterly revenue was down 13.8% on a year-over-year basis. As a group, analysts forecast that FMC Co. will post 3.48 EPS for the current fiscal year.

FMC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 17th. Stockholders of record on Monday, June 30th will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 5.60%. FMC’s payout ratio is 88.55%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on FMC. KeyCorp increased their price objective on shares of FMC from $49.00 to $53.00 and gave the stock an “overweight” rating in a research note on Friday, May 2nd. Wells Fargo & Company decreased their price target on shares of FMC from $43.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Monday, April 21st. Wall Street Zen raised shares of FMC from a “sell” rating to a “hold” rating in a research report on Saturday. UBS Group upped their price objective on FMC from $38.00 to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, May 1st. Finally, Mizuho upgraded FMC from a “neutral” rating to an “outperform” rating and set a $49.00 target price on the stock in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $49.46.

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.