Hsbc Holdings PLC Lowers Stock Position in FMC Co. (NYSE:FMC)

Hsbc Holdings PLC lessened its holdings in shares of FMC Co. (NYSE:FMC) by 41.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 180,971 shares of the basic materials company’s stock after selling 128,869 shares during the period. Hsbc Holdings PLC owned 0.14% of FMC worth $10,415,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FMC. Riverview Trust Co bought a new position in FMC during the 1st quarter valued at approximately $27,000. Benjamin F. Edwards & Company Inc. increased its holdings in shares of FMC by 114.3% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 568 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 303 shares in the last quarter. LRI Investments LLC purchased a new position in shares of FMC in the 1st quarter worth about $39,000. UMB Bank n.a. boosted its stake in FMC by 56.9% in the 2nd quarter. UMB Bank n.a. now owns 678 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 246 shares in the last quarter. Finally, EverSource Wealth Advisors LLC grew its position 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 purchasing an additional 612 shares during the last quarter. 91.86% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FMC has been the topic of several analyst reports. Wells Fargo & Company dropped 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. KeyCorp cut their target price on FMC from $81.00 to $79.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Redburn Atlantic raised FMC from a “hold” rating to a “strong-buy” rating in a report on Friday, July 19th. JPMorgan Chase & Co. upped their price target on FMC from $50.00 to $59.00 and gave the company a “neutral” rating in a report on Monday, August 12th. Finally, BMO Capital Markets lifted their price objective on FMC from $60.00 to $65.00 and gave the stock a “market perform” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $68.63.

FMC Price Performance

NYSE FMC opened at $63.56 on Tuesday. The business’s fifty day moving average is $61.94 and its 200 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 debt-to-equity ratio of 0.66, a quick ratio of 1.07 and a current ratio of 1.48. The company has a market capitalization 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.

FMC (NYSE:FMC) last announced its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, beating 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 company 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 EPS. The firm’s revenue was up 2.4% on a year-over-year basis. Sell-side analysts predict that FMC Co. will post 3.41 earnings per share for the current year.

FMC Announces Dividend

The company 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 3.65%. The ex-dividend date of this dividend is Monday, September 30th. FMC’s dividend payout ratio 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.