Public Employees Retirement System of Ohio Makes New $1.18 Million Investment in FMC Corporation $FMC

Public Employees Retirement System of Ohio purchased a new stake in FMC Corporation (NYSE:FMC) in the second quarter, according to its most recent filing with the SEC. The fund purchased 102,132 shares of the basic materials company’s stock, valued at approximately $1,175,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Root Financial Partners LLC lifted its stake in FMC by 3,642.9% during the first quarter. Root Financial Partners LLC now owns 1,834 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 1,785 shares during the last quarter. Essential Partners LLC bought a new stake in FMC during the first quarter valued at $43,000. Parallel Advisors LLC raised its holdings in shares of FMC by 297.2% during the first quarter. Parallel Advisors LLC now owns 6,264 shares of the basic materials company’s stock worth $108,000 after purchasing an additional 4,687 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of FMC by 3,714.8% during the first quarter. EverSource Wealth Advisors LLC now owns 9,041 shares of the basic materials company’s stock worth $156,000 after purchasing an additional 8,804 shares during the period. Finally, Westport Asset Management Inc. bought a new position in shares of FMC in the 2nd quarter worth about $172,000. 91.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on FMC. Citigroup reaffirmed a “buy” rating on shares of FMC in a research report on Tuesday, August 4th. Seaport Research Partners set a $21.00 target price on shares of FMC in a report on Tuesday, August 4th. Morgan Stanley decreased their target price on FMC from $15.50 to $12.00 and set an “equal weight” rating for the company in a research note on Friday, July 31st. Mizuho set a $16.00 target price on FMC in a report on Tuesday, July 14th. Finally, Wall Street Zen raised FMC from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Three equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, FMC has an average rating of “Hold” and a consensus target price of $14.25.

FMC Price Performance

Shares of NYSE FMC opened at $12.85 on Wednesday. The stock has a market cap of $1.61 billion, a P/E ratio of -0.58 and a beta of 0.41. The firm’s 50-day simple moving average is $11.15 and its 200 day simple moving average is $13.08. FMC Corporation has a fifty-two week low of $9.94 and a fifty-two week high of $38.68. The company has a quick ratio of 1.48, a current ratio of 1.99 and a debt-to-equity ratio of 2.38.

FMC (NYSE:FMC) last announced its earnings results on Wednesday, July 29th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. The firm had revenue of $841.40 million during the quarter, compared to analyst estimates of $895.14 million. FMC had a negative net margin of 84.83% and a positive return on equity of 11.35%. FMC’s revenue was down 17.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.69 EPS. Equities analysts expect that FMC Corporation will post 1.27 EPS for the current year.

FMC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be issued a $0.08 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $0.32 annualized dividend and a dividend yield of 2.5%. FMC’s dividend payout ratio (DPR) is -1.45%.

FMC Company Profile

FMC Corporation is a global agricultural sciences company specializing in the development, manufacture and marketing of crop protection products. Its portfolio includes herbicides, insecticides, fungicides and plant nutrition solutions designed to enhance crop yield, quality and sustainability. In addition to core crop protection, FMC delivers solutions for turf management and pest control in urban and industrial environments.

Founded in 1883 as the Bean Spray Pump Company and later known as Food Machinery Corporation, the business adopted the FMC name in 1948 and has since evolved through strategic acquisitions and divestitures.