Sei Investments Co. Lowers Stock Position in FMC Corp (NYSE:FMC)

Sei Investments Co. lowered its position in FMC Corp (NYSE:FMC) by 9.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 120,191 shares of the basic materials company’s stock after selling 12,926 shares during the period. Sei Investments Co. owned about 0.09% of FMC worth $11,972,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Flagship Harbor Advisors LLC purchased a new position in FMC during the 2nd quarter valued at $37,000. Lindbrook Capital LLC lifted its stake in FMC by 3,980.0% during the 2nd quarter. Lindbrook Capital LLC now owns 408 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 398 shares in the last quarter. Citizens Financial Group Inc RI lifted its stake in FMC by 186.8% during the 2nd quarter. Citizens Financial Group Inc RI now owns 975 shares of the basic materials company’s stock worth $98,000 after acquiring an additional 635 shares in the last quarter. San Francisco Sentry Investment Group CA lifted its stake in FMC by 112.3% during the 2nd quarter. San Francisco Sentry Investment Group CA now owns 981 shares of the basic materials company’s stock worth $98,000 after acquiring an additional 519 shares in the last quarter. Finally, Federated Hermes Inc. lifted its stake in FMC by 142.6% during the 1st quarter. Federated Hermes Inc. now owns 1,099 shares of the basic materials company’s stock worth $90,000 after acquiring an additional 646 shares in the last quarter. Institutional investors own 88.35% of the company’s stock.

In related news, CEO Mark Douglas sold 52,480 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $109.40, for a total value of $5,741,312.00. Following the completion of the transaction, the chief executive officer now directly owns 40,928 shares of the company’s stock, valued at approximately $4,477,523.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.99% of the company’s stock.

Several equities analysts recently issued reports on FMC shares. Zacks Investment Research raised FMC from a “hold” rating to a “buy” rating and set a $106.00 target price on the stock in a research note on Wednesday, June 3rd. Truist Financial upped their price target on FMC from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. They noted that the move was a valuation call. Cleveland Research assumed coverage on FMC in a report on Tuesday. They set a “neutral” rating on the stock. KeyCorp upped their price target on FMC from $108.00 to $119.00 and gave the stock an “overweight” rating in a report on Monday, July 13th. Finally, Citigroup upped their price target on FMC from $119.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, August 6th. Three analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. FMC currently has an average rating of “Buy” and a consensus target price of $114.19.

NYSE:FMC opened at $112.09 on Wednesday. The firm has a market capitalization of $14.49 billion, a PE ratio of 30.55, a price-to-earnings-growth ratio of 1.60 and a beta of 1.16. The stock has a 50 day moving average of $108.43 and a 200-day moving average of $96.01. FMC Corp has a 52 week low of $56.77 and a 52 week high of $112.59. The company has a current ratio of 1.60, a quick ratio of 1.17 and a debt-to-equity ratio of 1.06.

FMC (NYSE:FMC) last posted its earnings results on Tuesday, August 4th. The basic materials company reported $1.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.66 by $0.06. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.21 billion. FMC had a return on equity of 30.31% and a net margin of 10.35%. The business’s revenue was down 4.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.66 earnings per share. As a group, analysts predict that FMC Corp will post 6.46 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.57%. The ex-dividend date is Tuesday, September 29th. FMC’s dividend payout ratio (DPR) is presently 28.90%.

About FMC

FMC Corporation, a diversified chemical company, provides solutions, applications, and products for the agricultural, consumer, and industrial markets worldwide. The company operates in two segments, FMC Agricultural Solutions and FMC Lithium. The FMC Agricultural Solutions segment develops, manufactures, markets, and sells crop protection chemicals, including insecticides, herbicides, and fungicides that 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.

Read More: What is cost of equity?

Want to see what other hedge funds are holding FMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FMC Corp (NYSE:FMC).

Institutional Ownership by Quarter for FMC (NYSE:FMC)

Receive News & Ratings for FMC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FMC and related companies with MarketBeat.com's FREE daily email newsletter.