Crestline Management LP Invests $253,000 in FMC Co. (NYSE:FMC)

Crestline Management LP purchased a new position in shares of FMC Co. (NYSE:FMC) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 5,200 shares of the basic materials company’s stock, valued at approximately $253,000.

A number of other hedge funds also recently modified their holdings of FMC. Barclays PLC raised its position in shares of FMC by 17.3% during the third quarter. Barclays PLC now owns 310,378 shares of the basic materials company’s stock worth $20,465,000 after purchasing an additional 45,752 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in shares of FMC by 0.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 43,279 shares of the basic materials company’s stock worth $2,104,000 after buying an additional 313 shares in the last quarter. Czech National Bank grew its holdings in shares of FMC by 6.5% during the fourth quarter. Czech National Bank now owns 27,072 shares of the basic materials company’s stock worth $1,316,000 after buying an additional 1,645 shares in the last quarter. Brookstone Capital Management grew its holdings in shares of FMC by 9.4% during the fourth quarter. Brookstone Capital Management now owns 164,887 shares of the basic materials company’s stock worth $8,015,000 after buying an additional 14,197 shares in the last quarter. Finally, Reinhart Partners LLC. grew its holdings in shares of FMC by 20.9% during the fourth quarter. Reinhart Partners LLC. now owns 227,328 shares of the basic materials company’s stock worth $11,050,000 after buying an additional 39,230 shares in the last quarter. Institutional investors and hedge funds own 91.86% of the company’s stock.

Analyst Ratings Changes

FMC has been the subject of a number of research reports. The Goldman Sachs Group initiated coverage on FMC in a report on Thursday, March 13th. They set a “buy” rating and a $51.00 price objective for the company. Redburn Atlantic downgraded FMC from a “buy” rating to a “neutral” rating and set a $49.00 price objective for the company. in a report on Friday, February 14th. BMO Capital Markets decreased their price objective on FMC from $62.00 to $50.00 and set a “market perform” rating for the company in a report on Wednesday, February 5th. KeyCorp increased their price objective on FMC from $49.00 to $53.00 and gave the stock an “overweight” rating in a report on Friday, May 2nd. Finally, Citigroup increased their price objective on FMC from $55.00 to $61.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, FMC currently has an average rating of “Hold” and an average target price of $49.46.

FMC Stock Performance

FMC opened at $36.80 on Monday. FMC Co. has a 12-month low of $32.83 and a 12-month high of $68.72. The stock has a market cap of $4.60 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 1.90 and a beta of 0.80. The business has a 50 day moving average of $39.39 and a 200-day moving average of $47.22. 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 released its quarterly earnings data on Wednesday, April 30th. The basic materials company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.10. FMC had a return on equity of 9.67% and a net margin of 8.03%. The company had revenue of $791.40 million during the quarter, compared to analysts’ expectations of $783.70 million. During the same period last year, the firm posted $0.36 earnings per share. The business’s revenue was down 13.8% on a year-over-year basis. On average, equities research analysts expect that FMC Co. will post 3.48 earnings per share for the current year.

FMC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 17th. Stockholders of record on Monday, June 30th will be given a $0.58 dividend. The ex-dividend date is Monday, June 30th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 6.30%. FMC’s payout ratio is 88.55%.

Insider Activity

In other news, Director Carol Anthony Davidson purchased 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired at an average cost of $37.33 per share, with a total value of $223,980.00. Following the acquisition, the director now owns 6,000 shares in the company, valued at approximately $223,980. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ronaldo Pereira purchased 5,600 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were purchased 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 owns 48,837 shares in the company, valued at $1,746,899.49. The trade was a 12.95% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.67% of the company’s stock.

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.