Bank of New York Mellon Corp Acquires 685,995 Shares of FMC Co. (NYSE:FMC)

Bank of New York Mellon Corp lifted its holdings in shares of FMC Co. (NYSE:FMC) by 48.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,088,235 shares of the basic materials company’s stock after purchasing an additional 685,995 shares during the period. Bank of New York Mellon Corp owned 1.67% of FMC worth $101,509,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FMC. Barnett & Company Inc. bought a new stake in FMC during the 3rd quarter worth about $2,265,000. Inspire Trust Co. N.A. lifted its position in shares of FMC by 18.7% during the third quarter. Inspire Trust Co. N.A. now owns 60,200 shares of the basic materials company’s stock worth $3,970,000 after purchasing an additional 9,500 shares in the last quarter. Reinhart Partners LLC. grew its stake in shares of FMC by 20.9% during the fourth quarter. Reinhart Partners LLC. now owns 227,328 shares of the basic materials company’s stock valued at $11,050,000 after purchasing an additional 39,230 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in shares of FMC by 27.8% in the third quarter. Advisors Asset Management Inc. now owns 43,483 shares of the basic materials company’s stock valued at $2,867,000 after purchasing an additional 9,449 shares in the last quarter. Finally, First National Bank of Omaha raised its position in FMC by 85.7% in the 3rd quarter. First National Bank of Omaha now owns 33,935 shares of the basic materials company’s stock worth $2,238,000 after purchasing an additional 15,662 shares during the last quarter. 91.86% of the stock is currently owned by institutional investors and hedge funds.

FMC Price Performance

FMC opened at $36.87 on Friday. The stock has a market cap of $4.60 billion, a P/E ratio of 13.55, a P/E/G ratio of 1.90 and a beta of 0.84. FMC Co. has a 12 month low of $33.80 and a 12 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 company has a fifty day simple moving average of $46.73 and a 200 day simple moving average of $55.95.

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

FMC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Monday, March 31st will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a dividend yield of 6.29%. FMC’s dividend payout ratio (DPR) is presently 85.29%.

Analysts Set New Price Targets

A number of research analysts have commented on FMC shares. StockNews.com lowered FMC from a “buy” rating to a “hold” rating in a research report on Saturday, February 22nd. Morgan Stanley decreased their price target on FMC from $70.00 to $46.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. Redburn Atlantic cut FMC from a “buy” rating to a “neutral” rating and set a $49.00 price objective for the company. in a report on Friday, February 14th. Vertical Research raised shares of FMC to a “hold” rating in a research note on Wednesday, February 5th. Finally, UBS Group cut shares of FMC from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $66.00 to $38.00 in a research report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, FMC currently has an average rating of “Hold” and an average target price of $52.23.

Insider Transactions at FMC

In related 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 of the company’s stock, 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 is accessible through this link. 0.85% of the stock is owned by insiders.

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.