Edgestream Partners L.P. Sells 46,001 Shares of FMC Co. (NYSE:FMC)

Edgestream Partners L.P. reduced its stake in FMC Co. (NYSE:FMC) by 78.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,518 shares of the basic materials company’s stock after selling 46,001 shares during the quarter. Edgestream Partners L.P.’s holdings in FMC were worth $720,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of FMC. Wellington Management Group LLP increased its stake in shares of FMC by 15.3% during the fourth quarter. Wellington Management Group LLP now owns 12,547,766 shares of the basic materials company’s stock worth $791,137,000 after purchasing an additional 1,666,096 shares during the period. Tweedy Browne Co LLC lifted its holdings in shares of FMC by 105.1% during the fourth quarter. Tweedy Browne Co LLC now owns 2,961,857 shares of the basic materials company’s stock worth $186,745,000 after buying an additional 1,518,053 shares in the last quarter. Norges Bank bought a new stake in shares of FMC in the fourth quarter valued at about $83,227,000. Price T Rowe Associates Inc. MD grew its stake in shares of 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 valued at $322,439,000 after acquiring an additional 1,316,133 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in FMC by 5.3% during the first quarter. Vanguard Group Inc. now owns 15,290,219 shares of the basic materials company’s stock worth $973,987,000 after acquiring an additional 768,432 shares during the period. 91.86% of the stock is currently owned by institutional investors and hedge funds.

FMC Price Performance

Shares of NYSE:FMC opened at $62.04 on Friday. The firm has a 50 day simple moving average of $61.83 and a 200 day simple moving average of $60.68. The company has a market cap of $7.74 billion, a price-to-earnings ratio of 6.92, a PEG ratio of 1.52 and a beta of 0.85. FMC Co. has a one year low of $49.49 and a one year high of $71.01. 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 issued its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.08. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. FMC had a return on equity of 7.52% and a net margin of 33.97%. FMC’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 EPS. Research analysts predict that FMC Co. will post 3.41 earnings per share for the current fiscal year.

FMC Dividend Announcement

The firm also recently disclosed 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 of this dividend is Monday, September 30th. This represents a $2.32 dividend on an annualized basis and a yield of 3.74%. FMC’s dividend payout ratio (DPR) is presently 25.89%.

Analyst Ratings Changes

A number of research firms have issued reports on FMC. Redburn Atlantic raised shares of FMC from a “hold” rating to a “strong-buy” rating in a report on Friday, July 19th. KeyCorp reduced their price target on FMC from $81.00 to $79.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. BMO Capital Markets lifted their price objective on FMC from $60.00 to $65.00 and gave the company a “market perform” rating in a report on Friday, August 2nd. Wells Fargo & Company reduced their target price on FMC from $68.00 to $62.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Finally, JPMorgan Chase & Co. boosted their price target on FMC from $50.00 to $59.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, FMC presently has an average rating of “Hold” and a consensus 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.