Recurrent Investment Advisors LLC Trims Stake in FMC Co. (NYSE:FMC)

Recurrent Investment Advisors LLC reduced its holdings in shares of FMC Co. (NYSE:FMC) by 6.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 12,802 shares of the basic materials company’s stock after selling 882 shares during the quarter. Recurrent Investment Advisors LLC’s holdings in FMC were worth $622,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Norges Bank bought a new stake in shares of FMC during the fourth quarter worth $49,888,000. Invesco Ltd. increased its stake in FMC by 37.8% in the 4th quarter. Invesco Ltd. now owns 3,559,107 shares of the basic materials company’s stock worth $173,008,000 after buying an additional 977,110 shares during the period. Dimensional Fund Advisors LP lifted its holdings in FMC by 44.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,286,177 shares of the basic materials company’s stock valued at $111,131,000 after buying an additional 707,727 shares in the last quarter. Bank of New York Mellon Corp boosted its position in FMC by 48.9% in the 4th quarter. Bank of New York Mellon Corp now owns 2,088,235 shares of the basic materials company’s stock valued at $101,509,000 after buying an additional 685,995 shares during the period. Finally, Balyasny Asset Management L.P. grew its stake in FMC by 762.4% in the 4th quarter. Balyasny Asset Management L.P. now owns 484,040 shares of the basic materials company’s stock worth $23,529,000 after acquiring an additional 427,915 shares in the last quarter. Hedge funds and other institutional investors own 91.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on FMC shares. Vertical Research raised shares of FMC to a “hold” rating in a research note on Wednesday, February 5th. Wells Fargo & Company reduced their price objective on FMC from $43.00 to $41.00 and set an “equal weight” rating on the stock in a report on Monday, April 21st. Redburn Atlantic cut FMC from a “buy” rating to a “neutral” rating and set a $49.00 target price for the company. in a report on Friday, February 14th. Citigroup raised their price target on FMC from $55.00 to $61.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Finally, KeyCorp lifted their price objective on FMC from $49.00 to $53.00 and gave the company an “overweight” rating in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $49.46.

Insider Activity

In other FMC news, Director Carol Anthony Davidson purchased 6,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were purchased at an average cost of $37.33 per share, for a total transaction of $223,980.00. Following the completion of the transaction, the director now owns 6,000 shares of the company’s stock, valued at $223,980. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Ronaldo Pereira bought 5,600 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was bought at an average price of $35.77 per share, with a total value of $200,312.00. Following the completion of the acquisition, the insider now owns 48,837 shares in the company, valued at $1,746,899.49. This represents a 12.95% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.67% of the company’s stock.

FMC Price Performance

Shares of FMC stock opened at $37.22 on Thursday. The firm has a market capitalization of $4.65 billion, a price-to-earnings ratio of 13.68, a PEG ratio of 1.90 and a beta of 0.80. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.24 and a current ratio of 1.64. The stock’s 50-day simple moving average is $39.24 and its 200-day simple moving average is $46.92. FMC Co. has a fifty-two week low of $32.83 and a fifty-two week high of $68.55.

FMC (NYSE:FMC) last released its earnings results on Wednesday, April 30th. The basic materials company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.10. The firm had revenue of $791.40 million for the quarter, compared to the consensus estimate of $783.70 million. FMC had a return on equity of 9.67% and a net margin of 8.03%. The firm’s revenue was down 13.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.36 EPS. As a group, equities analysts forecast that FMC Co. will post 3.48 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, July 17th. Investors of record on Monday, June 30th will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 6.23%. The ex-dividend date of this dividend is Monday, June 30th. FMC’s dividend payout ratio is currently 88.55%.

FMC 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.