Lapides Asset Management LLC lowered its stake in FMC Corp (NYSE:FMC) by 8.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 20,000 shares of the basic materials company’s stock after selling 1,900 shares during the period. Lapides Asset Management LLC’s holdings in FMC were worth $1,992,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Louisiana State Employees Retirement System raised its holdings in shares of FMC by 1.8% during the second quarter. Louisiana State Employees Retirement System now owns 5,600 shares of the basic materials company’s stock valued at $558,000 after acquiring an additional 100 shares during the period. Cullen Frost Bankers Inc. grew its position in FMC by 2.5% during the first quarter. Cullen Frost Bankers Inc. now owns 4,637 shares of the basic materials company’s stock valued at $379,000 after purchasing an additional 113 shares in the last quarter. Creative Planning grew its position in FMC by 1.5% in the second quarter. Creative Planning now owns 8,568 shares of the basic materials company’s stock worth $854,000 after acquiring an additional 126 shares in the last quarter. Navellier & Associates Inc boosted its holdings in shares of FMC by 5.8% during the 1st quarter. Navellier & Associates Inc now owns 2,918 shares of the basic materials company’s stock worth $238,000 after buying an additional 159 shares during the period. Finally, Ocean Capital Management LLC raised its stake in FMC by 1.8% during the 2nd quarter. Ocean Capital Management LLC now owns 9,165 shares of the basic materials company’s stock valued at $913,000 after purchasing an additional 165 shares during the last quarter. 89.75% of the stock is owned by institutional investors and hedge funds.
FMC stock traded up $0.72 during mid-day trading on Friday, hitting $106.05. 516,707 shares of the company were exchanged, compared to its average volume of 596,841. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.39 and a current ratio of 1.82. The firm has a market cap of $13.73 billion, a P/E ratio of 29.71, a P/E/G ratio of 1.58 and a beta of 1.25. The firm’s 50 day simple moving average is $101.70 and its 200 day simple moving average is $94.27. FMC Corp has a 1-year low of $56.77 and a 1-year high of $108.77.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a $0.44 dividend. The ex-dividend date is Tuesday, September 29th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.66%. FMC’s dividend payout ratio (DPR) is presently 28.90%.
Several equities analysts recently commented on the stock. Credit Suisse Group reiterated a “buy” rating and set a $111.00 target price on shares of FMC in a research note on Wednesday, May 6th. Citigroup upped their target price on shares of FMC from $107.00 to $114.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Morgan Stanley increased their price objective on shares of FMC from $90.00 to $105.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 2nd. Zacks Investment Research raised shares of FMC from a “hold” rating to a “buy” rating and set a $106.00 target price on the stock in a research note on Wednesday, June 3rd. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $116.00 target price on shares of FMC in a research note on Sunday, May 10th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. FMC currently has an average rating of “Buy” and an average price target of $109.50.
FMC Corporation, a diversified chemical company, provides solutions, applications, and products for the agricultural, consumer, and industrial markets worldwide. The company operates in two segments, FMC Agricultural Solutions and FMC Lithium. The FMC Agricultural Solutions segment develops, manufactures, markets, and sells crop protection chemicals, including insecticides, herbicides, and fungicides that 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.
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