IQ EQ FUND MANAGEMENT IRELAND Ltd Sells 13,318 Shares of FMC Co. (NYSE:FMC)

IQ EQ FUND MANAGEMENT IRELAND Ltd cut its stake in FMC Co. (NYSE:FMC) by 17.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 61,419 shares of the basic materials company’s stock after selling 13,318 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in FMC were worth $4,050,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in FMC. Riverview Trust Co bought a new position in FMC in the 1st quarter worth about $27,000. Benjamin F. Edwards & Company Inc. grew its stake in FMC by 114.3% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 568 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 303 shares in the last quarter. Mather Group LLC. increased its holdings in FMC by 250.6% during the 3rd quarter. Mather Group LLC. now owns 554 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 396 shares during the period. LRI Investments LLC bought a new stake in FMC during the 1st quarter valued at $39,000. Finally, UMB Bank n.a. lifted its holdings in shares of FMC by 56.9% in the 2nd quarter. UMB Bank n.a. now owns 678 shares of the basic materials company’s stock worth $39,000 after buying an additional 246 shares during the period. Hedge funds and other institutional investors own 91.86% of the company’s stock.

FMC Stock Performance

FMC opened at $62.73 on Thursday. The firm’s 50-day moving average price is $63.22 and its 200-day moving average price is $60.68. The company has a market cap of $7.83 billion, a P/E ratio of 7.00, a price-to-earnings-growth ratio of 1.53 and a beta of 0.85. The company has a quick ratio of 1.07, a current ratio of 1.48 and a debt-to-equity ratio of 0.66. FMC Co. has a 52-week low of $49.49 and a 52-week high of $68.72.

FMC (NYSE:FMC) last posted its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.08. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. FMC had a net margin of 33.97% and a return on equity of 7.52%. The business’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter last year, the company posted $0.50 earnings per share. As a group, equities analysts anticipate that FMC Co. will post 3.4 EPS for the current fiscal year.

FMC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Monday, September 30th will be issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date is Monday, September 30th. FMC’s dividend payout ratio is presently 25.89%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Barclays raised their price target on FMC from $62.00 to $65.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Wells Fargo & Company cut their target price on shares of FMC from $68.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. BMO Capital Markets upped their price target on shares of FMC from $60.00 to $65.00 and gave the stock a “market perform” rating in a research report on Friday, August 2nd. KeyCorp cut their price objective on shares of FMC from $81.00 to $79.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Finally, Redburn Atlantic upgraded FMC from a “hold” rating to a “strong-buy” rating in a report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, FMC presently has a consensus rating of “Hold” and a consensus price target of $66.64.

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.