Oppenheimer Asset Management Inc. Increases Stake in FMC Co. (NYSE:FMC)

Oppenheimer Asset Management Inc. increased its position in shares of FMC Co. (NYSE:FMC) by 1.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 83,554 shares of the basic materials company’s stock after buying an additional 1,517 shares during the period. Oppenheimer Asset Management Inc. owned about 0.07% of FMC worth $4,809,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Riverview Trust Co purchased a new position in FMC in the first quarter valued at about $27,000. Benjamin F. Edwards & Company Inc. grew its stake in FMC by 114.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 568 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 303 shares during the last quarter. LRI Investments LLC purchased a new position in FMC in the first quarter valued at about $39,000. UMB Bank n.a. grew its stake in FMC by 56.9% in the second quarter. UMB Bank n.a. now owns 678 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 246 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in FMC by 827.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 686 shares of the basic materials company’s stock valued at $43,000 after purchasing an additional 612 shares during the last quarter. Hedge funds and other institutional investors own 91.86% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on FMC. Barclays lifted their target price 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 lifted their target price on FMC from $60.00 to $65.00 and gave the company a “market perform” rating in a research note on Friday, August 2nd. KeyCorp dropped their price target on FMC from $81.00 to $79.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. JPMorgan Chase & Co. boosted their price target on FMC from $50.00 to $59.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Finally, Redburn Atlantic upgraded FMC from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, FMC currently has a consensus rating of “Hold” and a consensus price target of $68.63.

FMC Trading Up 2.4 %

FMC stock opened at $63.51 on Monday. 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 Co. has a 52 week low of $49.49 and a 52 week high of $76.82. The company has a market capitalization of $7.93 billion, a price-to-earnings ratio of 7.09, a price-to-earnings-growth ratio of 1.52 and a beta of 0.85. The stock has a 50-day moving average price of $61.09 and a 200 day moving average price of $60.52.

FMC (NYSE:FMC) last announced its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.08. FMC had a return on equity of 7.52% and a net margin of 33.97%. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the company posted $0.50 earnings per share. FMC’s revenue for the quarter was up 2.4% on a year-over-year basis. Sell-side analysts anticipate that FMC Co. will post 3.41 EPS for the current year.

FMC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders of record on Monday, September 30th will be issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date of this dividend is Monday, September 30th. FMC’s payout ratio is presently 25.89%.

FMC 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.