M&G Investment Management Ltd. Makes New $5.27 Million Investment in FMC Co. (NYSE:FMC)

M&G Investment Management Ltd. bought a new position in shares of FMC Co. (NYSE:FMC) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 47,491 shares of the basic materials company’s stock, valued at approximately $5,272,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Essex Financial Services Inc. raised its stake in FMC by 38.9% in the first quarter. Essex Financial Services Inc. now owns 2,743 shares of the basic materials company’s stock valued at $303,000 after purchasing an additional 768 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in FMC by 200.6% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 885,629 shares of the basic materials company’s stock worth $97,959,000 after acquiring an additional 591,052 shares in the last quarter. First Horizon Advisors Inc. raised its stake in FMC by 234.6% during the first quarter. First Horizon Advisors Inc. now owns 532 shares of the basic materials company’s stock worth $58,000 after acquiring an additional 373 shares in the last quarter. Ballentine Partners LLC raised its stake in FMC by 16.8% during the first quarter. Ballentine Partners LLC now owns 2,549 shares of the basic materials company’s stock worth $282,000 after acquiring an additional 367 shares in the last quarter. Finally, Rockefeller Capital Management L.P. grew its holdings in shares of FMC by 1.7% during the first quarter. Rockefeller Capital Management L.P. now owns 14,780 shares of the basic materials company’s stock worth $1,633,000 after purchasing an additional 254 shares during the last quarter. 85.89% of the stock is owned by institutional investors.

A number of brokerages have recently weighed in on FMC. Monness Crespi & Hardt raised FMC from a “neutral” rating to a “buy” rating and set a $126.00 target price on the stock in a research report on Thursday, February 11th. KeyCorp lifted their price objective on FMC from $133.00 to $136.00 and gave the stock an “overweight” rating in a research report on Friday, May 7th. Wells Fargo & Company upped their price objective on FMC from $131.00 to $133.00 and gave the company an “overweight” rating in a research report on Thursday, May 13th. Credit Suisse Group reduced their price target on FMC from $141.00 to $139.00 and set an “outperform” rating on the stock in a report on Thursday, February 11th. Finally, Zacks Investment Research upgraded FMC from a “sell” rating to a “hold” rating and set a $116.00 target price for the company in a research note on Tuesday, March 23rd. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. FMC presently has a consensus rating of “Buy” and a consensus target price of $128.92.

FMC stock opened at $118.61 on Friday. The stock has a market cap of $15.29 billion, a price-to-earnings ratio of 29.36, a PEG ratio of 1.50 and a beta of 1.00. The company has a current ratio of 1.38, a quick ratio of 1.01 and a debt-to-equity ratio of 0.87. The firm’s 50 day moving average price is $116.18. FMC Co. has a one year low of $93.52 and a one year high of $123.66.

FMC (NYSE:FMC) last released its quarterly earnings results on Wednesday, May 5th. The basic materials company reported $1.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.51 by $0.02. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.17 billion. FMC had a net margin of 11.51% and a return on equity of 26.00%. On average, sell-side analysts forecast that FMC Co. will post 7.16 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 15th. Shareholders of record on Wednesday, June 30th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.62%. The ex-dividend date of this dividend is Tuesday, June 29th. FMC’s payout ratio is 31.02%.

About FMC

FMC Corporation, an agricultural sciences company, provides crop protection, plant health, precision agriculture, and professional pest and turf management products. The company develop, markets, and sells crop protection chemicals that include insecticides, herbicides, and fungicides that are used in agriculture to enhance crop yield and quality by controlling a range of insects, weeds, and disease, as well as in non-agricultural markets for pest control.

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Institutional Ownership by Quarter for FMC (NYSE:FMC)

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