AGF Management Ltd. Trims Stake in FMC Co. (NYSE:FMC)

AGF Management Ltd. lessened its position in FMC Co. (NYSE:FMC) by 15.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 37,040 shares of the basic materials company’s stock after selling 6,600 shares during the quarter. AGF Management Ltd.’s holdings in FMC were worth $2,132,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in FMC. Private Advisor Group LLC boosted its holdings in shares of FMC by 126.3% during the 4th quarter. Private Advisor Group LLC now owns 7,422 shares of the basic materials company’s stock valued at $468,000 after buying an additional 4,143 shares in the last quarter. Principal Securities Inc. purchased a new stake in shares of FMC in the 4th quarter worth about $54,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in shares of FMC by 16.6% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 135,895 shares of the basic materials company’s stock worth $8,315,000 after buying an additional 19,327 shares during the period. Vanguard Personalized Indexing Management LLC grew its position in shares of FMC by 32.0% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 10,388 shares of the basic materials company’s stock worth $655,000 after buying an additional 2,521 shares during the period. Finally, Janney Montgomery Scott LLC grew its position in shares of FMC by 98.7% in the 4th quarter. Janney Montgomery Scott LLC now owns 59,036 shares of the basic materials company’s stock worth $3,722,000 after buying an additional 29,326 shares during the period. 91.86% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Wells Fargo & Company reduced 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 report on Tuesday, July 16th. BMO Capital Markets increased their price objective on shares of FMC from $60.00 to $65.00 and gave the stock a “market perform” rating in a research note on Friday, August 2nd. Redburn Atlantic raised shares of FMC from a “hold” rating to a “strong-buy” rating in a report on Friday, July 19th. Barclays increased their target price on shares of FMC from $62.00 to $65.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Finally, JPMorgan Chase & Co. increased their price objective on shares of FMC from $50.00 to $59.00 and gave the company a “neutral” rating in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $68.63.

FMC Stock Up 2.4 %

NYSE:FMC opened at $63.51 on Friday. FMC Co. has a 1-year low of $49.49 and a 1-year high of $76.82. The company has a 50-day moving average of $61.09 and a 200 day moving average of $60.46. The firm has a market cap of $7.93 billion, a PE ratio of 7.09, a price-to-earnings-growth ratio of 1.52 and a beta of 0.85. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.48 and a quick ratio of 1.07.

FMC (NYSE:FMC) last announced its earnings results on Wednesday, July 31st. The basic materials company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.08. FMC had a net margin of 33.97% and a return on equity of 7.52%. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the company posted $0.50 earnings per share. The firm’s revenue was up 2.4% on a year-over-year basis. As a group, research analysts anticipate that FMC Co. will post 3.41 EPS for the current fiscal year.

FMC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.58 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $2.32 annualized dividend and a dividend yield of 3.65%. FMC’s dividend payout ratio (DPR) is currently 25.89%.

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.