GAMMA Investing LLC Acquires 503 Shares of FMC Co. (NYSE:FMC)

GAMMA Investing LLC increased its holdings in shares of FMC Co. (NYSE:FMC) by 120.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 919 shares of the basic materials company’s stock after acquiring an additional 503 shares during the quarter. GAMMA Investing LLC’s holdings in FMC were worth $61,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of FMC. Czech National Bank raised its stake in shares of FMC by 6.9% in the third quarter. Czech National Bank now owns 25,427 shares of the basic materials company’s stock valued at $1,677,000 after buying an additional 1,642 shares during the period. Handelsbanken Fonder AB raised its stake in shares of FMC by 37.1% in the third quarter. Handelsbanken Fonder AB now owns 35,100 shares of the basic materials company’s stock valued at $2,314,000 after buying an additional 9,500 shares during the period. Rockland Trust Co. raised its stake in shares of FMC by 8.5% in the third quarter. Rockland Trust Co. now owns 11,717 shares of the basic materials company’s stock valued at $773,000 after buying an additional 916 shares during the period. Park Avenue Securities LLC raised its stake in shares of FMC by 13.5% in the third quarter. Park Avenue Securities LLC now owns 4,731 shares of the basic materials company’s stock valued at $312,000 after buying an additional 562 shares during the period. Finally, Norman Fields Gottscho Capital Management LLC bought a new stake in shares of FMC in the third quarter valued at $211,000. 91.86% of the stock is currently owned by institutional investors.

FMC Price Performance

FMC stock opened at $62.73 on Thursday. FMC Co. has a 52 week low of $49.49 and a 52 week high of $68.72. The business has a 50-day simple moving average of $63.22 and a 200 day simple moving average of $60.68. The company has a quick ratio of 1.07, a current ratio of 1.48 and a debt-to-equity ratio of 0.66. The stock has a market cap of $7.83 billion, a price-to-earnings ratio of 7.00, a PEG ratio of 1.53 and a beta of 0.85.

FMC (NYSE:FMC) last posted its earnings results on Wednesday, July 31st. The basic materials company reported $0.63 EPS for the quarter, topping the consensus estimate 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 period in the previous year, the business earned $0.50 earnings per share. The firm’s revenue was up 2.4% on a year-over-year basis. On average, research analysts forecast that FMC Co. will post 3.4 earnings per share for the current fiscal year.

FMC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Monday, September 30th will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 3.70%. The ex-dividend date of this dividend is Monday, September 30th. FMC’s payout ratio is 25.89%.

Wall Street Analyst Weigh In

FMC has been the topic of several research reports. Wells Fargo & Company lowered their target price on FMC from $68.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. JPMorgan Chase & Co. boosted their target price on FMC from $50.00 to $59.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. KeyCorp reduced their price target on FMC from $81.00 to $79.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Redburn Atlantic upgraded FMC from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 19th. Finally, BMO Capital Markets lifted their price target on FMC from $60.00 to $65.00 and gave the company a “market perform” rating in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, FMC has a consensus rating of “Hold” and a consensus price target of $66.64.

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.