Synovus Financial Corp Has $3.29 Million Stake in FMC Co. (NYSE:FMC)

Synovus Financial Corp lifted its holdings in shares of FMC Co. (NYSE:FMC - Free Report) by 82.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 49,892 shares of the basic materials company's stock after purchasing an additional 22,612 shares during the quarter. Synovus Financial Corp's holdings in FMC were worth $3,290,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC boosted its stake in shares of FMC by 28.5% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 17,244 shares of the basic materials company's stock valued at $992,000 after buying an additional 3,822 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of FMC by 121.2% during the 2nd quarter. Blue Trust Inc. now owns 2,320 shares of the basic materials company's stock worth $148,000 after acquiring an additional 1,271 shares in the last quarter. Pallas Capital Advisors LLC purchased a new stake in shares of FMC in the 2nd quarter valued at approximately $478,000. Centennial Wealth Advisory LLC purchased a new position in FMC during the 2nd quarter valued at about $420,000. Finally, KG&L Capital Management LLC purchased a new position in shares of FMC during the 2nd quarter valued at $315,000. 91.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Mizuho upped their price target on FMC from $64.00 to $70.00 and gave the stock a "neutral" rating in a research note on Friday, November 1st. Royal Bank of Canada raised their price target on FMC from $78.00 to $81.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Finally, Citigroup assumed coverage on FMC in a report on Wednesday, October 23rd. They issued a "neutral" rating and a $67.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $68.00.

Insider Activity

In related news, VP Jacqueline Scanlan sold 4,529 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $59.67, for a total transaction of $270,245.43. Following the completion of the transaction, the vice president now directly owns 28,649 shares in the company, valued at approximately $1,709,485.83. This trade represents a 13.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.85% of the company's stock.

FMC Trading Down 1.8 %

FMC stock traded down $1.00 during midday trading on Friday, hitting $53.50. 2,057,970 shares of the stock were exchanged, compared to its average volume of 1,648,530. FMC Co. has a 52 week low of $50.03 and a 52 week high of $68.72. The company has a quick ratio of 1.09, a current ratio of 1.48 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $6.68 billion, a PE ratio of 4.60, a P/E/G ratio of 1.48 and a beta of 0.80. The company has a fifty day simple moving average of $59.83 and a two-hundred day simple moving average of $60.17.

FMC (NYSE:FMC - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The basic materials company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.20. The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.04 billion. FMC had a net margin of 34.93% and a return on equity of 7.68%. The firm's revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.44 EPS. Equities research analysts anticipate that FMC Co. will post 3.35 EPS for the current fiscal year.

FMC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Tuesday, December 31st will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date of this dividend is Tuesday, December 31st. FMC's payout ratio is currently 19.97%.

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.