Kentucky Retirement Systems Insurance Trust Fund Cuts Stake in FMC Co. (NYSE:FMC)

Kentucky Retirement Systems Insurance Trust Fund reduced its position in FMC Co. (NYSE:FMC) by 7.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,117 shares of the basic materials company’s stock after selling 328 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in FMC were worth $262,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its holdings in FMC by 35.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,061,828 shares of the basic materials company’s stock worth $322,439,000 after purchasing an additional 1,316,133 shares during the last quarter. LRI Investments LLC purchased a new stake in shares of FMC during the first quarter valued at $41,000. Quadrature Capital Ltd grew its holdings in shares of FMC by 64.3% during the first quarter. Quadrature Capital Ltd now owns 69,691 shares of the basic materials company’s stock valued at $4,437,000 after buying an additional 27,271 shares during the last quarter. CreativeOne Wealth LLC grew its holdings in shares of FMC by 6.7% during the first quarter. CreativeOne Wealth LLC now owns 3,926 shares of the basic materials company’s stock valued at $250,000 after buying an additional 246 shares during the last quarter. Finally, EntryPoint Capital LLC grew its holdings in shares of FMC by 1,282.3% during the first quarter. EntryPoint Capital LLC now owns 857 shares of the basic materials company’s stock valued at $55,000 after buying an additional 795 shares during the last quarter. 91.86% of the stock is owned by hedge funds and other institutional investors.

FMC Stock Performance

FMC traded down $1.06 during trading on Monday, reaching $58.54. 543,208 shares of the company’s stock were exchanged, compared to its average volume of 1,929,646. FMC Co. has a fifty-two week low of $49.49 and a fifty-two week high of $96.81. The company has a quick ratio of 1.02, a current ratio of 1.46 and a debt-to-equity ratio of 0.70. The business has a 50 day moving average price of $57.96 and a 200 day moving average price of $58.70. The company has a market capitalization of $7.31 billion, a P/E ratio of 6.65, a PEG ratio of 1.41 and a beta of 0.84.

FMC (NYSE:FMC) last issued its quarterly earnings results on Monday, May 6th. The basic materials company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.01. FMC had a net margin of 27.65% and a return on equity of 7.68%. The company had revenue of $918.00 million during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period last year, the business earned $1.77 EPS. The business’s quarterly revenue was down 31.7% on a year-over-year basis. As a group, analysts predict that FMC Co. will post 3.43 earnings per share for the current fiscal year.

FMC Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Monday, September 30th will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 3.96%. The ex-dividend date of this dividend is Monday, September 30th. FMC’s payout ratio is presently 25.89%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on FMC shares. KeyCorp boosted their price objective on shares of FMC from $79.00 to $81.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th. Barclays started coverage on shares of FMC in a research report on Wednesday, June 26th. They set an “equal weight” rating and a $62.00 target price for the company. Wells Fargo & Company lowered their target price on shares of FMC from $68.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. Mizuho increased their target price on shares of FMC from $55.00 to $57.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 7th. Finally, Royal Bank of Canada raised their price target on shares of FMC from $65.00 to $81.00 and gave the company an “outperform” rating in a research note on Friday, May 10th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $69.71.

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.