FMC Co. (NYSE:FMC) Shares Acquired by New South Capital Management Inc.

New South Capital Management Inc. boosted its holdings in FMC Co. (NYSE:FMC) by 29.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 656,145 shares of the basic materials company’s stock after acquiring an additional 148,583 shares during the period. FMC accounts for about 1.7% of New South Capital Management Inc.’s portfolio, making the stock its 23rd largest holding. New South Capital Management Inc. owned approximately 0.53% of FMC worth $37,761,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in FMC. Chris Bulman Inc purchased a new stake in FMC in the second quarter valued at $73,000. Isthmus Partners LLC increased its position in shares of FMC by 9.5% during the 2nd quarter. Isthmus Partners LLC now owns 136,360 shares of the basic materials company’s stock worth $76,000 after purchasing an additional 11,818 shares during the last quarter. Savant Capital LLC raised its holdings in FMC by 130.0% in the 2nd quarter. Savant Capital LLC now owns 49,103 shares of the basic materials company’s stock valued at $2,826,000 after buying an additional 27,754 shares during the period. Arizona State Retirement System lifted its position in FMC by 1.8% in the second quarter. Arizona State Retirement System now owns 34,942 shares of the basic materials company’s stock valued at $2,011,000 after buying an additional 627 shares during the last quarter. Finally, National Bank of Canada FI boosted its stake in FMC by 24.4% during the second quarter. National Bank of Canada FI now owns 33,880 shares of the basic materials company’s stock worth $1,918,000 after buying an additional 6,656 shares during the period. 91.86% of the stock is currently owned by hedge funds and other institutional investors.

FMC Trading Down 3.8 %

Shares of NYSE:FMC opened at $60.28 on Friday. The company has a market cap of $7.52 billion, a PE ratio of 6.73, a P/E/G ratio of 1.60 and a beta of 0.85. The company’s 50 day moving average is $60.48 and its two-hundred day moving average is $60.12. FMC Co. has a 52 week low of $49.49 and a 52 week high of $81.50. The company has a current ratio of 1.48, a quick ratio of 1.07 and a debt-to-equity ratio of 0.66.

FMC (NYSE:FMC) last posted its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.08. The company had revenue of $1.04 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the firm earned $0.50 earnings per share. Equities analysts predict that FMC Co. will post 3.41 earnings per share for the current fiscal year.

FMC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Monday, September 30th will be paid a dividend of $0.58 per share. The ex-dividend date is Monday, September 30th. This represents a $2.32 annualized dividend and a yield of 3.85%. FMC’s dividend payout ratio is currently 25.89%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. KeyCorp reduced their price target on shares of FMC from $81.00 to $79.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Wells Fargo & Company lowered their price target on FMC from $68.00 to $62.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 16th. Redburn Atlantic raised FMC from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 19th. BMO Capital Markets increased their target price on FMC from $60.00 to $65.00 and gave the stock a “market perform” rating in a research note on Friday, August 2nd. Finally, JPMorgan Chase & Co. lifted their target price on FMC from $50.00 to $59.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. One equities research 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 company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $68.63.

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.