DoubleLine ETF Adviser LP Makes New $672,000 Investment in FMC Co. (NYSE:FMC)

DoubleLine ETF Adviser LP purchased a new stake in FMC Co. (NYSE:FMC) in the 4th quarter, Holdings Channel.com reports. The firm purchased 13,823 shares of the basic materials company’s stock, valued at approximately $672,000.

A number of other institutional investors have also modified their holdings of FMC. Norges Bank bought a new stake in FMC in the fourth quarter valued at $49,888,000. Invesco Ltd. lifted its position in FMC by 37.8% in the 4th quarter. Invesco Ltd. now owns 3,559,107 shares of the basic materials company’s stock valued at $173,008,000 after purchasing an additional 977,110 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in FMC by 44.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,286,177 shares of the basic materials company’s stock valued at $111,131,000 after purchasing an additional 707,727 shares during the period. Bank of New York Mellon Corp grew its position in FMC by 48.9% in the 4th quarter. Bank of New York Mellon Corp now owns 2,088,235 shares of the basic materials company’s stock worth $101,509,000 after purchasing an additional 685,995 shares during the last quarter. Finally, Snyder Capital Management L P increased its stake in shares of FMC by 44.6% in the fourth quarter. Snyder Capital Management L P now owns 1,304,856 shares of the basic materials company’s stock valued at $63,429,000 after purchasing an additional 402,291 shares during the period. Institutional investors own 91.86% of the company’s stock.

FMC Stock Down 1.7 %

FMC stock opened at $37.81 on Friday. The firm has a market cap of $4.72 billion, a PE ratio of 13.90, a P/E/G ratio of 1.90 and a beta of 0.83. FMC Co. has a 12 month low of $32.83 and a 12 month high of $68.72. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.64 and a quick ratio of 1.24. The firm has a 50 day simple moving average of $39.49 and a 200 day simple moving average of $48.33.

FMC (NYSE:FMC) last announced its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.10. The company had revenue of $791.40 million during the quarter, compared to the consensus estimate of $783.70 million. FMC had a return on equity of 9.67% and a net margin of 8.03%. The company’s quarterly revenue was down 13.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.36 EPS. Equities research analysts forecast that FMC Co. will post 3.48 earnings per share for the current fiscal year.

FMC Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 17th. Investors of record on Monday, June 30th will be paid a $0.58 dividend. The ex-dividend date is Monday, June 30th. This represents a $2.32 dividend on an annualized basis and a yield of 6.14%. FMC’s dividend payout ratio is currently 85.29%.

Insider Buying and Selling at FMC

In other FMC news, insider Ronaldo Pereira bought 5,600 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were bought at an average price of $35.77 per share, for a total transaction of $200,312.00. Following the acquisition, the insider now directly owns 48,837 shares of the company’s stock, valued at approximately $1,746,899.49. This trade represents a 12.95 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Carol Anthony Davidson acquired 6,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were bought at an average cost of $37.33 per share, for a total transaction of $223,980.00. Following the completion of the transaction, the director now directly owns 6,000 shares of the company’s stock, valued at $223,980. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 0.67% of the company’s stock.

Analyst Upgrades and Downgrades

FMC has been the subject of several analyst reports. Vertical Research upgraded FMC to a “hold” rating in a research report on Wednesday, February 5th. BMO Capital Markets reduced their price target on FMC from $62.00 to $50.00 and set a “market perform” rating for the company in a research report on Wednesday, February 5th. Citigroup lifted their price objective on shares of FMC from $55.00 to $61.00 and gave the company a “neutral” rating in a research note on Wednesday, January 29th. Redburn Atlantic lowered shares of FMC from a “buy” rating to a “neutral” rating and set a $49.00 target price for the company. in a research report on Friday, February 14th. Finally, UBS Group boosted their price target on shares of FMC from $38.00 to $41.00 and gave the stock a “neutral” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, FMC presently has an average rating of “Hold” and a consensus price target of $49.46.

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.