Red Spruce Capital LLC Trims Holdings in FMC Co. (NYSE:FMC)

Red Spruce Capital LLC lessened its stake in shares of FMC Co. (NYSE:FMC) by 3.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 20,182 shares of the basic materials company’s stock after selling 619 shares during the period. Red Spruce Capital LLC’s holdings in FMC were worth $1,331,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Riverview Trust Co acquired a new position in FMC in the 1st quarter valued at about $27,000. Benjamin F. Edwards & Company Inc. increased its stake in FMC by 114.3% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 568 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 303 shares during the last quarter. LRI Investments LLC purchased a new stake in FMC in the first quarter valued at $41,000. UMB Bank n.a. lifted its stake in shares of FMC by 56.9% in the 2nd quarter. UMB Bank n.a. now owns 678 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 246 shares during the last quarter. Finally, Sentry Investment Management LLC purchased a new position in shares of FMC during the 1st quarter worth $45,000. Institutional investors and hedge funds own 91.86% of the company’s stock.

Wall Street Analysts Forecast Growth

FMC has been the topic of several research analyst reports. Barclays boosted their price objective on shares of FMC from $62.00 to $65.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. JPMorgan Chase & Co. lifted their target price on shares of FMC from $50.00 to $59.00 and gave the company a “neutral” rating in a report on Monday, August 12th. BMO Capital Markets upped their price target on FMC from $60.00 to $65.00 and gave the stock a “market perform” rating in a research note on Friday, August 2nd. KeyCorp dropped their price objective on FMC from $81.00 to $79.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Finally, Redburn Atlantic upgraded FMC from a “hold” rating to a “strong-buy” rating in a report on Friday, July 19th. 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 issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $68.47.

FMC Stock Performance

FMC traded down $0.03 on Friday, reaching $63.98. The company had a trading volume of 469,372 shares, compared to its average volume of 1,766,473. The stock has a 50-day moving average price of $63.06 and a 200-day moving average price of $60.77. The stock has a market capitalization of $7.99 billion, a PE ratio of 7.14, a P/E/G ratio of 1.57 and a beta of 0.85. FMC Co. has a 1 year low of $49.49 and a 1 year high of $68.72. 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 announced its earnings results 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 firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the prior year, the firm earned $0.50 EPS. The business’s revenue was up 2.4% on a year-over-year basis. As a group, research analysts forecast that FMC Co. will post 3.41 EPS for the current fiscal year.

FMC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.63%. FMC’s payout ratio is 25.89%.

About FMC

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.