Algert Global LLC Takes $1.55 Million Position in FMC Co. (NYSE:FMC)

Algert Global LLC purchased a new stake in FMC Co. (NYSE:FMC - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 26,902 shares of the basic materials company's stock, valued at approximately $1,548,000.

A number of other large investors have also added to or reduced their stakes in FMC. US Bancorp DE increased its stake in FMC by 7.9% in the fourth quarter. US Bancorp DE now owns 12,338 shares of the basic materials company's stock valued at $778,000 after acquiring an additional 901 shares during the last quarter. Bank of Nova Scotia lifted its position in shares of FMC by 34.1% during the 4th quarter. Bank of Nova Scotia now owns 23,114 shares of the basic materials company's stock worth $1,457,000 after buying an additional 5,877 shares during the last quarter. California State Teachers Retirement System lifted its position in shares of FMC by 31.5% during the 4th quarter. California State Teachers Retirement System now owns 290,835 shares of the basic materials company's stock worth $18,337,000 after buying an additional 69,709 shares during the last quarter. Royal London Asset Management Ltd. boosted its stake in FMC by 2.2% in the fourth quarter. Royal London Asset Management Ltd. now owns 49,181 shares of the basic materials company's stock valued at $3,101,000 after buying an additional 1,082 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado grew its position in FMC by 661.1% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 149,373 shares of the basic materials company's stock valued at $9,418,000 after acquiring an additional 129,748 shares during the last quarter. Institutional investors and hedge funds own 91.86% of the company's stock.

Wall Street Analysts Forecast Growth

FMC has been the subject of a number of research reports. Redburn Atlantic raised shares of FMC from a "hold" rating to a "strong-buy" rating in a report on Friday, July 19th. Wells Fargo & Company dropped their target price on FMC from $68.00 to $62.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 16th. JPMorgan Chase & Co. lifted their target price on shares of FMC from $50.00 to $59.00 and gave the stock a "neutral" rating in a research report on Monday, August 12th. BMO Capital Markets increased their price objective on FMC from $60.00 to $65.00 and gave the company a "market perform" rating in a report on Friday, August 2nd. Finally, KeyCorp lowered their target price on FMC from $81.00 to $79.00 and set an "overweight" rating for the company in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, FMC has an average rating of "Hold" and an average price target of $68.47.

FMC Stock Performance

FMC stock traded down $0.03 during midday trading on Friday, reaching $63.98. 469,367 shares of the company's stock traded hands, compared to its average volume of 1,766,473. FMC Co. has a 52 week low of $49.49 and a 52 week high of $68.72. The company has a 50-day moving average price of $62.97 and a two-hundred day moving average price of $60.79. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.07 and a current ratio of 1.48. The firm has a market capitalization of $7.99 billion, a PE ratio of 7.22, a price-to-earnings-growth ratio of 1.57 and a beta of 0.85.

FMC (NYSE:FMC - Get Free Report) last posted its earnings results on Wednesday, July 31st. The basic materials company reported $0.63 earnings per share for the quarter, beating analysts' consensus estimates of $0.55 by $0.08. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. FMC had a return on equity of 7.52% and a net margin of 33.97%. The company's quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.50 EPS. As a group, equities analysts anticipate that FMC Co. will post 3.41 EPS for the current year.

FMC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 3.63%. The ex-dividend date of this dividend is Monday, September 30th. FMC's payout ratio is 25.89%.

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.