Convergence Financial LLC Raises Position in FMC Co. (NYSE:FMC)

Convergence Financial LLC raised its holdings in shares of FMC Co. (NYSE:FMC) by 18.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,599 shares of the basic materials company’s stock after buying an additional 1,786 shares during the quarter. Convergence Financial LLC’s holdings in FMC were worth $564,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FMC. Millburn Ridgefield Corp boosted its position in shares of FMC by 186.2% during the 3rd quarter. Millburn Ridgefield Corp now owns 498 shares of the basic materials company’s stock valued at $33,000 after acquiring an additional 324 shares during the last quarter. First Horizon Advisors Inc. lifted its position in FMC by 90.8% during the third quarter. First Horizon Advisors Inc. now owns 517 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 246 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in FMC during the fourth quarter valued at approximately $29,000. Peterson Financial Group Inc. purchased a new position in FMC in the 3rd quarter worth approximately $51,000. Finally, Brooklyn Investment Group bought a new position in shares of FMC in the 3rd quarter worth $52,000. 91.86% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other FMC news, EVP Michael Finian Reilly sold 2,958 shares of the company’s stock in a transaction on Thursday, January 23rd. The shares were sold at an average price of $55.25, for a total value of $163,429.50. Following the completion of the transaction, the executive vice president now directly owns 25,468 shares in the company, valued at approximately $1,407,107. This represents a 10.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.81% of the company’s stock.

FMC Trading Down 0.1 %

Shares of FMC opened at $38.21 on Thursday. The stock has a market capitalization of $4.77 billion, a P/E ratio of 14.05, a PEG ratio of 1.90 and a beta of 0.84. FMC Co. has a twelve month low of $33.80 and a twelve month high of $68.72. The company has a quick ratio of 1.24, a current ratio of 1.64 and a debt-to-equity ratio of 0.67. The firm has a fifty day simple moving average of $47.20 and a two-hundred day simple moving average of $56.28.

FMC (NYSE:FMC) last posted its earnings results on Tuesday, February 4th. The basic materials company reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.14. FMC had a net margin of 8.03% and a return on equity of 9.67%. On average, research analysts anticipate that FMC Co. will post 3.48 EPS for the current year.

FMC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Tuesday, December 31st were given a $0.58 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.32 dividend on an annualized basis and a dividend yield of 6.07%. FMC’s dividend payout ratio is currently 85.29%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on FMC. Royal Bank of Canada downgraded shares of FMC from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $78.00 to $47.00 in a report on Wednesday, February 5th. Morgan Stanley cut their price objective on FMC from $70.00 to $46.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. UBS Group cut FMC from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $66.00 to $38.00 in a report on Friday, February 7th. Vertical Research upgraded FMC to a “hold” rating in a research report on Wednesday, February 5th. Finally, StockNews.com cut shares of FMC from a “buy” rating to a “hold” rating in a research report on Saturday, February 22nd. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, FMC presently has a consensus rating of “Hold” and a consensus price target of $52.23.

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.