Deerfield Management Company L.P. Series C Invests $474,000 in FMC Co. (NYSE:FMC)

Deerfield Management Company L.P. Series C bought a new stake in FMC Co. (NYSE:FMC) during the second quarter, HoldingsChannel reports. The fund bought 8,233 shares of the basic materials company’s stock, valued at approximately $474,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Legacy Wealth Asset Management LLC lifted its stake in FMC by 4.6% during the 1st quarter. Legacy Wealth Asset Management LLC now owns 4,007 shares of the basic materials company’s stock valued at $255,000 after acquiring an additional 175 shares during the period. Taylor Frigon Capital Management LLC lifted its position in FMC by 1.5% during the first quarter. Taylor Frigon Capital Management LLC now owns 12,581 shares of the basic materials company’s stock valued at $801,000 after purchasing an additional 183 shares during the period. Wahed Invest LLC boosted its holdings in FMC by 9.5% in the fourth quarter. Wahed Invest LLC now owns 2,131 shares of the basic materials company’s stock valued at $134,000 after purchasing an additional 184 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its position in FMC by 27.7% during 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 during the period. Finally, WCM Investment Management LLC raised its stake in shares of FMC by 2.1% during the 1st quarter. WCM Investment Management LLC now owns 9,358 shares of the basic materials company’s stock valued at $596,000 after buying an additional 196 shares during the last quarter. Institutional investors and hedge funds own 91.86% of the company’s stock.

FMC Trading Up 0.2 %

Shares of FMC opened at $66.09 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.07 and a debt-to-equity ratio of 0.66. The firm has a 50-day moving average price of $62.37 and a 200 day moving average price of $60.77. FMC Co. has a 12-month low of $49.49 and a 12-month high of $68.72. The firm has a market capitalization of $8.25 billion, a P/E ratio of 7.38, a P/E/G ratio of 1.57 and a beta of 0.85.

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, topping analysts’ consensus estimates of $0.55 by $0.08. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. FMC had a net margin of 33.97% and a return on equity of 7.52%. The business’s revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.50 EPS. Sell-side analysts forecast that FMC Co. will post 3.41 EPS for the current year.

FMC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders 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 yield of 3.51%. FMC’s dividend payout ratio is currently 25.89%.

Wall Street Analysts Forecast Growth

FMC has been the topic of a number of recent research reports. BMO Capital Markets upped 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. JPMorgan Chase & Co. upped their price objective on FMC from $50.00 to $59.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Barclays increased their target price on shares of FMC from $62.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. 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 investment analyst has rated the stock with a sell rating, eleven have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, FMC currently has a consensus rating of “Hold” and an average price target of $68.47.

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.