Convergence Financial LLC Grows Position in FMC Co. (NYSE:FMC)

Convergence Financial LLC lifted its position in shares of FMC Co. (NYSE:FMC) by 18.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,599 shares of the basic materials company’s stock after purchasing an additional 1,786 shares during the quarter. Convergence Financial LLC’s holdings in FMC were worth $564,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. grew its position in shares of FMC by 70.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,338 shares of the basic materials company’s stock worth $617,000 after buying an additional 3,862 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in FMC by 149.2% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 42,966 shares of the basic materials company’s stock worth $2,833,000 after acquiring an additional 25,722 shares in the last quarter. DekaBank Deutsche Girozentrale grew its holdings in FMC by 11,158.4% in the third quarter. DekaBank Deutsche Girozentrale now owns 14,073 shares of the basic materials company’s stock worth $917,000 after purchasing an additional 13,948 shares during the period. State of Alaska Department of Revenue increased its stake in shares of FMC by 7.2% during the third quarter. State of Alaska Department of Revenue now owns 14,515 shares of the basic materials company’s stock valued at $957,000 after purchasing an additional 980 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in shares of FMC by 3.9% during the third quarter. Nisa Investment Advisors LLC now owns 72,352 shares of the basic materials company’s stock valued at $4,813,000 after purchasing an additional 2,692 shares in the last quarter. 91.86% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

FMC Stock Performance

Shares of FMC stock opened at $38.21 on Thursday. The firm has a market capitalization of $4.77 billion, a PE ratio of 14.05, a P/E/G ratio of 1.90 and a beta of 0.84. The company has a 50 day moving average price of $47.20 and a 200-day moving average price of $56.28. FMC Co. has a 52 week low of $33.80 and a 52 week high of $68.72. The company has a quick ratio of 1.24, a current ratio of 1.64 and a debt-to-equity ratio of 0.67.

FMC (NYSE:FMC) last posted its earnings results on Tuesday, February 4th. The basic materials company reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.14. FMC had a net margin of 8.03% and a return on equity of 9.67%. As a group, equities research analysts expect that FMC Co. will post 3.48 earnings per share for the current year.

FMC Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Tuesday, December 31st were issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 6.07%. The ex-dividend date of this dividend was Tuesday, December 31st. FMC’s dividend payout ratio is 85.29%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FMC. Bank of America restated an “underperform” rating and issued a $48.00 price target (down previously from $61.00) on shares of FMC in a research note on Wednesday, February 5th. Barclays cut their target price on FMC from $65.00 to $48.00 and set an “overweight” rating on the stock in a research note on Friday, February 7th. Morgan Stanley reduced their price target on FMC from $70.00 to $46.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. Royal Bank of Canada cut shares of FMC from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $78.00 to $47.00 in a research note on Wednesday, February 5th. Finally, KeyCorp cut their price objective on shares of FMC from $55.00 to $51.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $52.23.

About FMC

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.