Cove Street Capital LLC Grows Position in FMC Co. (NYSE:FMC)

Cove Street Capital LLC boosted its stake in shares of FMC Co. (NYSE:FMCFree Report) by 45.2% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 31,607 shares of the basic materials company’s stock after acquiring an additional 9,833 shares during the period. Cove Street Capital LLC’s holdings in FMC were worth $2,002,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Manning & Napier Group LLC grew its holdings in shares of FMC by 58.9% in the third quarter. Manning & Napier Group LLC now owns 2,249,633 shares of the basic materials company’s stock valued at $150,658,000 after purchasing an additional 833,845 shares during the period. Exencial Wealth Advisors LLC acquired a new stake in FMC in the third quarter valued at approximately $664,000. Speece Thorson Capital Group Inc. raised its holdings in FMC by 17.0% during the second quarter. Speece Thorson Capital Group Inc. now owns 124,317 shares of the basic materials company’s stock worth $12,971,000 after purchasing an additional 18,019 shares in the last quarter. Barclays PLC raised its holdings in FMC by 13.3% during the third quarter. Barclays PLC now owns 307,508 shares of the basic materials company’s stock worth $20,595,000 after purchasing an additional 36,069 shares in the last quarter. Finally, New South Capital Management Inc. grew its position in shares of FMC by 8.3% during the third quarter. New South Capital Management Inc. now owns 591,722 shares of the basic materials company’s stock worth $39,628,000 after acquiring an additional 45,595 shares during the last quarter. Hedge funds and other institutional investors own 86.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on FMC shares. BNP Paribas lowered shares of FMC from an “outperform” rating to a “neutral” rating and set a $56.00 price objective on the stock. in a research report on Wednesday, February 7th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $59.00 price objective (down from $135.00) on shares of FMC in a research report on Tuesday, October 24th. Royal Bank of Canada lowered their price objective on shares of FMC from $61.00 to $59.00 and set an “outperform” rating on the stock in a research report on Thursday. Bank of America lowered shares of FMC from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $60.00 to $57.00 in a research report on Tuesday, January 16th. Finally, BMO Capital Markets lowered their price objective on shares of FMC from $63.00 to $61.00 and set a “market perform” rating on the stock in a research report on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $74.53.

Get Our Latest Research Report on FMC

Insider Activity

In other FMC news, Director Robert C. Pallash bought 3,845 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The stock was purchased at an average price of $52.48 per share, with a total value of $201,785.60. Following the transaction, the director now owns 47,871 shares in the company, valued at $2,512,270.08. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.85% of the company’s stock.

FMC Price Performance

Shares of NYSE:FMC traded up $1.86 during midday trading on Monday, hitting $53.61. 2,239,140 shares of the stock were exchanged, compared to its average volume of 1,927,339. The stock has a market cap of $6.69 billion, a P/E ratio of 5.09, a PEG ratio of 1.63 and a beta of 0.88. The company has a current ratio of 1.52, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68. FMC Co. has a twelve month low of $49.49 and a twelve month high of $131.77. The company has a 50 day moving average price of $58.58 and a 200-day moving average price of $66.21.

FMC (NYSE:FMCGet Free Report) last released its earnings results on Tuesday, February 6th. The basic materials company reported $1.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.01). FMC had a net margin of 29.45% and a return on equity of 12.98%. The firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.25 billion. During the same quarter last year, the company posted $2.37 earnings per share. On average, research analysts forecast that FMC Co. will post 3.97 earnings per share for the current year.

FMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 18th. Stockholders of record on Friday, December 29th were paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date was Thursday, December 28th. FMC’s dividend payout ratio is currently 22.03%.

About FMC

(Free Report)

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 include 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.

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Institutional Ownership by Quarter for FMC (NYSE:FMC)

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