Public Sector Pension Investment Board Invests $1.21 Million in FMC Co. (NYSE:FMC)

Public Sector Pension Investment Board bought a new stake in FMC Co. (NYSE:FMC) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 21,036 shares of the basic materials company’s stock, valued at approximately $1,211,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Frank Rimerman Advisors LLC grew its holdings in shares of FMC by 83,457.1% during the second quarter. Frank Rimerman Advisors LLC now owns 11,698 shares of the basic materials company’s stock worth $673,000 after purchasing an additional 11,684 shares during the last quarter. ProShare Advisors LLC boosted its position in shares of FMC by 7.1% in the 2nd quarter. ProShare Advisors LLC now owns 22,214 shares of the basic materials company’s stock valued at $1,278,000 after purchasing an additional 1,467 shares during the period. Legacy Financial Advisors Inc. purchased a new position in FMC during the 2nd quarter worth approximately $299,000. Ensign Peak Advisors Inc increased its position in FMC by 2.8% during the second quarter. Ensign Peak Advisors Inc now owns 41,265 shares of the basic materials company’s stock worth $2,375,000 after buying an additional 1,121 shares during the period. Finally, Pacer Advisors Inc. lifted its stake in FMC by 42.7% in the second quarter. Pacer Advisors Inc. now owns 20,424 shares of the basic materials company’s stock valued at $1,175,000 after buying an additional 6,110 shares during the last quarter. 91.86% of the stock is currently owned by institutional investors and hedge funds.

FMC Price Performance

Shares of NYSE FMC opened at $65.68 on Wednesday. The company’s fifty day moving average is $62.70 and its two-hundred day moving average is $60.73. 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 firm has a market capitalization of $8.20 billion, a P/E ratio of 7.33, a PEG ratio of 1.57 and a beta of 0.85. FMC Co. has a one year low of $49.49 and a one year high of $68.72.

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

FMC Dividend Announcement

The company 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 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 yield of 3.53%. FMC’s dividend payout ratio is presently 25.89%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on FMC shares. BMO Capital Markets raised their target price on shares of FMC from $60.00 to $65.00 and gave the stock a “market perform” rating in a research report on Friday, August 2nd. KeyCorp lowered their price objective on shares of FMC from $81.00 to $79.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Wells Fargo & Company reduced their target price on shares of FMC from $68.00 to $62.00 and set an “equal weight” rating for the company in a report on Tuesday, July 16th. Redburn Atlantic raised FMC from a “hold” rating to a “strong-buy” rating in a report on Friday, July 19th. Finally, Barclays upped their price objective on FMC from $62.00 to $65.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $68.47.

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.