IQ EQ FUND MANAGEMENT IRELAND Ltd Reduces Stock Holdings in FMC Co. (NYSE:FMC)

IQ EQ FUND MANAGEMENT IRELAND Ltd lessened its holdings in shares of FMC Co. (NYSE:FMC) by 17.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,419 shares of the basic materials company’s stock after selling 13,318 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in FMC were worth $4,050,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FMC. Vanguard Group Inc. raised its stake in shares of FMC by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 15,290,219 shares of the basic materials company’s stock valued at $973,987,000 after buying an additional 768,432 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in FMC by 35.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,061,828 shares of the basic materials company’s stock valued at $322,439,000 after acquiring an additional 1,316,133 shares in the last quarter. AQR Capital Management LLC lifted its holdings in FMC by 317.7% in the second quarter. AQR Capital Management LLC now owns 1,099,389 shares of the basic materials company’s stock valued at $63,160,000 after acquiring an additional 836,179 shares during the period. Russell Investments Group Ltd. lifted its holdings in FMC by 11.6% in the first quarter. Russell Investments Group Ltd. now owns 903,274 shares of the basic materials company’s stock valued at $57,538,000 after acquiring an additional 93,892 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in FMC by 2.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 858,129 shares of the basic materials company’s stock worth $49,385,000 after purchasing an additional 17,381 shares in the last quarter. 91.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on FMC shares. Barclays lifted their target price on shares of FMC from $62.00 to $65.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. BMO Capital Markets lifted their price objective on shares of FMC from $60.00 to $65.00 and gave the company a “market perform” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. increased their target price on shares of FMC from $50.00 to $59.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. KeyCorp cut their price target on FMC from $81.00 to $79.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Finally, Wells Fargo & Company lowered their price target on FMC from $68.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $66.64.

FMC Trading Up 1.6 %

Shares of FMC opened at $62.73 on Thursday. FMC Co. has a 52-week low of $49.49 and a 52-week high of $68.72. The stock has a market cap of $7.83 billion, a PE ratio of 7.00, a price-to-earnings-growth ratio of 1.53 and a beta of 0.85. The firm’s fifty day moving average is $63.22 and its two-hundred day moving average is $60.68. The company has a quick ratio of 1.07, a current ratio of 1.48 and a debt-to-equity ratio of 0.66.

FMC (NYSE:FMC) last posted its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.08. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. FMC had a net margin of 33.97% and a return on equity of 7.52%. FMC’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.50 earnings per share. Research analysts forecast that FMC Co. will post 3.4 earnings per share for the current fiscal year.

FMC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Monday, September 30th will be given a $0.58 dividend. The ex-dividend date is Monday, September 30th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.70%. FMC’s dividend payout ratio (DPR) is presently 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.