Frank Rimerman Advisors LLC Raises Stock Holdings in FMC Co. (NYSE:FMC)

Frank Rimerman Advisors LLC raised its stake in FMC Co. (NYSE:FMC) by 83,457.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,698 shares of the basic materials company’s stock after buying an additional 11,684 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in FMC were worth $673,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of FMC. Riverview Trust Co purchased a new position in shares of FMC during the 1st quarter worth approximately $27,000. Benjamin F. Edwards & Company Inc. grew its stake in shares of FMC by 114.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 568 shares of the basic materials company’s stock valued at $36,000 after buying an additional 303 shares in the last quarter. LRI Investments LLC purchased a new stake in shares of FMC in the 1st quarter valued at $39,000. UMB Bank n.a. lifted its stake in FMC by 56.9% during the 2nd quarter. UMB Bank n.a. now owns 678 shares of the basic materials company’s stock worth $39,000 after acquiring an additional 246 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in FMC by 827.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 686 shares of the basic materials company’s stock valued at $43,000 after acquiring an additional 612 shares during the period. Hedge funds and other institutional investors own 91.86% of the company’s stock.

FMC Stock Performance

NYSE:FMC opened at $63.56 on Tuesday. The company has a market cap of $7.93 billion, a P/E ratio of 7.09, a P/E/G ratio of 1.52 and a beta of 0.85. The firm’s 50 day moving average is $61.94 and its two-hundred day moving average is $60.68. FMC Co. has a fifty-two week low of $49.49 and a fifty-two week high of $68.96. The company has a quick ratio of 1.07, a current ratio of 1.48 and a debt-to-equity ratio of 0.66.

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

FMC Dividend Announcement

The business also recently declared 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. The ex-dividend date is Monday, September 30th. This represents a $2.32 annualized dividend and a yield of 3.65%. FMC’s dividend payout ratio is presently 25.89%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on FMC. JPMorgan Chase & Co. boosted their price target on shares of FMC from $50.00 to $59.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Redburn Atlantic raised shares of FMC from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 19th. KeyCorp decreased their price target on shares of FMC from $81.00 to $79.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Barclays boosted their price target on shares of FMC from $62.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Finally, BMO Capital Markets lifted their target price on FMC from $60.00 to $65.00 and gave the company a “market perform” rating in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, eleven have issued 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, FMC has a consensus rating of “Hold” and an average price target of $68.63.

FMC 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.