Resona Asset Management Co. Ltd. Makes New $37,000 Investment in FMC Co. (NYSE:FMC)

Resona Asset Management Co. Ltd. purchased a new stake in FMC Co. (NYSE:FMC) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 755 shares of the basic materials company’s stock, valued at approximately $37,000.

Several other hedge funds have also recently modified their holdings of the business. Golden State Wealth Management LLC purchased a new position in FMC during the fourth quarter valued at approximately $29,000. EverSource Wealth Advisors LLC raised its position in shares of FMC by 217.4% in the 4th quarter. EverSource Wealth Advisors LLC now owns 746 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 511 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of FMC in the 3rd quarter worth $58,000. IFP Advisors Inc lifted its stake in shares of FMC by 65.3% during the 4th quarter. IFP Advisors Inc now owns 959 shares of the basic materials company’s stock worth $47,000 after purchasing an additional 379 shares during the last quarter. Finally, Principal Securities Inc. boosted its position in FMC by 34.7% during the fourth quarter. Principal Securities Inc. now owns 990 shares of the basic materials company’s stock valued at $48,000 after purchasing an additional 255 shares in the last quarter. Hedge funds and other institutional investors own 91.86% of the company’s stock.

FMC Stock Up 2.2 %

Shares of FMC stock opened at $37.05 on Friday. FMC Co. has a fifty-two week low of $32.83 and a fifty-two week high of $68.72. The firm has a market capitalization of $4.63 billion, a PE ratio of 13.62, a P/E/G ratio of 1.90 and a beta of 0.83. 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 stock’s 50-day simple moving average is $38.77 and its 200-day simple moving average is $50.76.

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

FMC Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, March 31st will be given a dividend of $0.58 per share. The ex-dividend date is Monday, March 31st. This represents a $2.32 dividend on an annualized basis and a yield of 6.26%. FMC’s dividend payout ratio is presently 85.29%.

Analyst Ratings Changes

FMC has been the subject of several analyst reports. Citigroup increased their price target on shares of FMC from $55.00 to $61.00 and gave the company a “neutral” rating in a research report on Wednesday, January 29th. Wells Fargo & Company restated a “cautious” rating on shares of FMC in a research note on Thursday, March 6th. Mizuho reduced their price target on FMC from $70.00 to $55.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. The Goldman Sachs Group began coverage on FMC in a research report on Thursday, March 13th. They issued a “buy” rating and a $51.00 price objective for the company. Finally, KeyCorp reduced their target price on FMC from $55.00 to $51.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 18th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, FMC currently has a consensus rating of “Hold” and a consensus target price of $51.15.

Insider Buying and Selling at FMC

In related news, Director Carol Anthony Davidson bought 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were purchased at an average cost of $37.33 per share, with a total value of $223,980.00. Following the completion of the acquisition, the director now directly owns 6,000 shares in the company, valued at approximately $223,980. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ronaldo Pereira purchased 5,600 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was bought at an average cost of $35.77 per share, with a total value of $200,312.00. Following the completion of the acquisition, the insider now directly owns 48,837 shares of the company’s stock, valued at $1,746,899.49. This trade represents a 12.95 % increase in their position. The disclosure for this purchase can be found here. 0.67% of the stock is owned by corporate insiders.

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.