PNC Financial Services Group Inc. Sells 6,243 Shares of FMC Co. (NYSE:FMC)

PNC Financial Services Group Inc. lowered its stake in shares of FMC Co. (NYSE:FMC - Free Report) by 10.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 55,221 shares of the basic materials company's stock after selling 6,243 shares during the period. PNC Financial Services Group Inc.'s holdings in FMC were worth $2,684,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of FMC. Golden State Wealth Management LLC acquired a new stake in shares of FMC during the 4th quarter valued at $29,000. Millburn Ridgefield Corp raised its holdings 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 purchasing an additional 324 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in shares of FMC by 90.8% during the 3rd 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 in the last quarter. IFP Advisors Inc raised its holdings in shares of FMC by 65.3% during the 4th quarter. IFP Advisors Inc now owns 959 shares of the basic materials company's stock valued at $47,000 after purchasing an additional 379 shares in the last quarter. Finally, Principal Securities Inc. raised its holdings in shares of FMC by 34.7% during the 4th quarter. Principal Securities Inc. now owns 990 shares of the basic materials company's stock valued at $48,000 after purchasing an additional 255 shares in the last quarter. Institutional investors and hedge funds own 91.86% of the company's stock.

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FMC Stock Performance

Shares of FMC traded up $1.40 during trading hours on Friday, reaching $41.78. 2,294,841 shares of the company traded hands, compared to its average volume of 1,780,161. The stock's fifty day moving average is $44.89 and its 200 day moving average is $54.27. The stock has a market cap of $5.22 billion, a P/E ratio of 15.36, a price-to-earnings-growth ratio of 1.90 and a beta of 0.93. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.24 and a current ratio of 1.64. FMC Co. has a 1-year low of $33.80 and a 1-year high of $68.72.

FMC (NYSE:FMC - Get Free Report) last posted its earnings results on Tuesday, February 4th. The basic materials company reported $1.79 earnings per share for the quarter, beating 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%. Equities research analysts anticipate that FMC Co. will post 3.48 earnings per share for the current fiscal year.

FMC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, March 31st will be paid a $0.58 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.32 dividend on an annualized basis and a yield of 5.55%. FMC's payout ratio is currently 85.29%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on FMC shares. Morgan Stanley cut their price target on shares of FMC from $70.00 to $46.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 5th. Wells Fargo & Company restated a "cautious" rating on shares of FMC in a report on Thursday, March 6th. Vertical Research raised shares of FMC to a "hold" rating in a research report on Wednesday, February 5th. UBS Group lowered shares of FMC from a "buy" rating to a "neutral" rating and cut their target price for the stock from $66.00 to $38.00 in a research report on Friday, February 7th. Finally, Bank of America reissued an "underperform" rating and set a $48.00 target price (down previously from $61.00) on shares of FMC in a research report on Wednesday, February 5th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $52.14.

Insider Activity at FMC

In other news, Director Carol Anthony Davidson acquired 6,000 shares of the firm's stock in a transaction on Wednesday, March 5th. The shares were purchased at an average cost of $37.33 per share, with a total value of $223,980.00. Following the completion of the purchase, the director now owns 6,000 shares of the company's stock, valued at $223,980. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ronaldo Pereira acquired 5,600 shares of the firm's stock in a transaction on Tuesday, March 4th. The shares were purchased at an average cost of $35.77 per share, for a total transaction of $200,312.00. Following the completion of the purchase, the insider now directly owns 48,837 shares of the company's stock, valued at approximately $1,746,899.49. The trade was a 12.95 % increase in their position. The disclosure for this purchase can be found here. 0.85% of the stock is currently owned by insiders.

FMC Company 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.