FMC Co. (NYSE:FMC) Shares Purchased by Synovus Financial Corp

Synovus Financial Corp boosted its position in shares of FMC Co. (NYSE:FMC) by 82.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 49,892 shares of the basic materials company’s stock after buying an additional 22,612 shares during the quarter. Synovus Financial Corp’s holdings in FMC were worth $3,290,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC increased its stake in shares of FMC by 28.5% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 17,244 shares of the basic materials company’s stock valued at $992,000 after purchasing an additional 3,822 shares in the last quarter. Blue Trust Inc. increased its position in shares of FMC by 121.2% in the second quarter. Blue Trust Inc. now owns 2,320 shares of the basic materials company’s stock valued at $148,000 after buying an additional 1,271 shares in the last quarter. Pallas Capital Advisors LLC acquired a new position in shares of FMC during the 2nd quarter worth approximately $478,000. Centennial Wealth Advisory LLC purchased a new position in shares of FMC during the 2nd quarter valued at approximately $420,000. Finally, KG&L Capital Management LLC acquired a new stake in FMC in the 2nd quarter valued at $315,000. Hedge funds and other institutional investors own 91.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on FMC shares. Royal Bank of Canada upped their price objective on shares of FMC from $78.00 to $81.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Mizuho upped their price target on shares of FMC from $64.00 to $70.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Finally, Citigroup started coverage on FMC in a report on Wednesday, October 23rd. They issued a “neutral” rating and a $67.00 price objective on the stock. One research analyst has rated the stock with a sell rating, ten have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $68.00.

Insider Activity

In other FMC news, VP Jacqueline Scanlan sold 4,529 shares of FMC stock in a transaction on Monday, November 11th. The stock was sold at an average price of $59.67, for a total value of $270,245.43. Following the sale, the vice president now owns 28,649 shares in the company, valued at $1,709,485.83. The trade was a 13.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.85% of the company’s stock.

FMC Price Performance

FMC stock opened at $53.50 on Friday. FMC Co. has a 1 year low of $50.03 and a 1 year high of $68.72. The firm has a market capitalization of $6.68 billion, a PE ratio of 4.60, a price-to-earnings-growth ratio of 1.48 and a beta of 0.80. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.48 and a quick ratio of 1.09. The business has a 50 day simple moving average of $59.83 and a 200-day simple moving average of $60.17.

FMC (NYSE:FMC) last issued its earnings results on Tuesday, October 29th. The basic materials company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.20. FMC had a return on equity of 7.68% and a net margin of 34.93%. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period last year, the company earned $0.44 EPS. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. Equities research analysts anticipate that FMC Co. will post 3.35 earnings per share for the current fiscal year.

FMC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Tuesday, December 31st will be issued a $0.58 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.32 annualized dividend and a yield of 4.34%. FMC’s payout ratio is 19.97%.

FMC 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.