AGF Management Ltd. Reduces Stake in FMC Co. (NYSE:FMC)

AGF Management Ltd. lowered its position in FMC Co. (NYSE:FMC) by 15.1% during the second quarter, Holdings Channel.com reports. The institutional investor owned 37,040 shares of the basic materials company’s stock after selling 6,600 shares during the period. AGF Management Ltd.’s holdings in FMC were worth $2,132,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Legacy Wealth Asset Management LLC boosted its position in FMC by 4.6% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 4,007 shares of the basic materials company’s stock worth $255,000 after purchasing an additional 175 shares in the last quarter. Taylor Frigon Capital Management LLC boosted its position in FMC by 1.5% in the 1st quarter. Taylor Frigon Capital Management LLC now owns 12,581 shares of the basic materials company’s stock worth $801,000 after purchasing an additional 183 shares in the last quarter. Wahed Invest LLC boosted its position in FMC by 9.5% in the 4th quarter. Wahed Invest LLC now owns 2,131 shares of the basic materials company’s stock worth $134,000 after purchasing an additional 184 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its position in FMC by 27.7% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 866 shares of the basic materials company’s stock worth $55,000 after purchasing an additional 188 shares in the last quarter. Finally, WCM Investment Management LLC boosted its position in FMC by 2.1% in the 1st quarter. WCM Investment Management LLC now owns 9,358 shares of the basic materials company’s stock worth $596,000 after purchasing an additional 196 shares in the last quarter. Hedge funds and other institutional investors own 91.86% of the company’s stock.

FMC Price Performance

Shares of NYSE FMC opened at $63.51 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.07 and a current ratio of 1.48. FMC Co. has a fifty-two week low of $49.49 and a fifty-two week high of $76.82. The firm has a market capitalization of $7.93 billion, a PE ratio of 7.09, a price-to-earnings-growth ratio of 1.52 and a beta of 0.85. The stock’s 50-day simple moving average is $61.09 and its 200-day simple moving average is $60.46.

FMC (NYSE:FMC) last released its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.55 by $0.08. The company had revenue of $1.04 billion for 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 firm’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 earnings per share. As a group, equities research analysts forecast that FMC Co. will post 3.41 EPS for the current fiscal year.

FMC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Monday, September 30th will be paid 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 3.65%. FMC’s dividend payout ratio (DPR) is presently 25.89%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FMC. Wells Fargo & Company decreased their target price 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. Redburn Atlantic raised FMC from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 19th. Barclays increased their price objective on FMC from $62.00 to $65.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. BMO Capital Markets raised their target price on FMC from $60.00 to $65.00 and gave the stock a “market perform” rating in a research note on Friday, August 2nd. Finally, KeyCorp cut their target price on FMC from $81.00 to $79.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, FMC presently has a consensus rating of “Hold” and an average target price of $68.63.

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.