FMC Co. (NYSE:FMC) Shares Sold by Kornitzer Capital Management Inc. KS

Kornitzer Capital Management Inc. KS cut its stake in shares of FMC Co. (NYSE:FMC) by 37.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 13,430 shares of the basic materials company’s stock after selling 7,903 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in FMC were worth $653,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Commerce Bank lifted its stake in FMC by 3.7% in the third quarter. Commerce Bank now owns 5,135 shares of the basic materials company’s stock valued at $339,000 after buying an additional 183 shares during the last quarter. International Private Wealth Advisors LLC lifted its stake in FMC by 3.8% in the fourth quarter. International Private Wealth Advisors LLC now owns 5,604 shares of the basic materials company’s stock valued at $272,000 after buying an additional 205 shares during the last quarter. Blue Trust Inc. lifted its stake in FMC by 9.9% in the fourth quarter. Blue Trust Inc. now owns 2,620 shares of the basic materials company’s stock valued at $127,000 after buying an additional 236 shares during the last quarter. First Horizon Advisors Inc. lifted its stake in FMC by 90.8% in the third quarter. First Horizon Advisors Inc. now owns 517 shares of the basic materials company’s stock valued at $34,000 after buying an additional 246 shares during the last quarter. Finally, Principal Securities Inc. raised its stake in shares of FMC by 34.7% during the fourth quarter. Principal Securities Inc. now owns 990 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 255 shares during the last quarter. 91.86% of the stock is owned by institutional investors and hedge funds.

FMC Stock Down 0.8 %

FMC stock opened at $37.69 on Thursday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.24 and a current ratio of 1.64. The firm has a market capitalization of $4.71 billion, a price-to-earnings ratio of 13.86, a price-to-earnings-growth ratio of 1.82 and a beta of 0.84. FMC Co. has a fifty-two week low of $33.80 and a fifty-two week high of $68.72. The stock’s fifty day moving average is $48.60 and its two-hundred day moving average is $57.09.

FMC (NYSE:FMC) last posted its earnings results on Tuesday, February 4th. The basic materials company reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.14. FMC had a return on equity of 9.67% and a net margin of 8.03%. Analysts predict that FMC Co. will post 3.48 EPS for the current fiscal year.

FMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Tuesday, December 31st were paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 6.15%. The ex-dividend date was Tuesday, December 31st. FMC’s payout ratio is currently 85.29%.

Analyst Ratings Changes

FMC has been the subject of several analyst reports. BMO Capital Markets cut their price target on FMC from $62.00 to $50.00 and set a “market perform” rating for the company in a research note on Wednesday, February 5th. Morgan Stanley cut their price target on FMC from $70.00 to $46.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. UBS Group cut FMC from a “buy” rating to a “neutral” rating and cut their price target for the stock from $66.00 to $38.00 in a research note on Friday, February 7th. Redburn Atlantic cut FMC from a “buy” rating to a “neutral” rating and set a $49.00 price target for the company. in a research note on Friday, February 14th. Finally, Bank of America restated an “underperform” rating and set a $48.00 price target (down previously from $61.00) on shares of FMC in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, FMC currently has a consensus rating of “Hold” and a consensus target price of $52.23.

Insider Activity at FMC

In related news, EVP Michael Finian Reilly sold 2,958 shares of the stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $55.25, for a total transaction of $163,429.50. Following the sale, the executive vice president now owns 25,468 shares of the company’s stock, valued at $1,407,107. This trade represents a 10.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.81% of the company’s stock.

FMC Company 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.