Hartford Funds Management Co LLC Has $288,000 Stake in FMC Co. (NYSE:FMC)

Hartford Funds Management Co LLC increased its position in shares of FMC Co. (NYSE:FMC) by 41.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,575 shares of the basic materials company’s stock after purchasing an additional 1,352 shares during the period. Hartford Funds Management Co LLC’s holdings in FMC were worth $288,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FMC. CVA Family Office LLC bought a new stake in FMC during the fourth quarter worth about $31,000. Quintet Private Bank Europe S.A. acquired a new stake in shares of FMC during the 3rd quarter worth approximately $33,000. Financial Connections Group Inc. bought a new position in FMC in the fourth quarter valued at approximately $31,000. Spire Wealth Management raised its position in FMC by 143.1% during the third quarter. Spire Wealth Management now owns 508 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 299 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its stake in FMC by 50.0% during the third quarter. Parkside Financial Bank & Trust now owns 684 shares of the basic materials company’s stock worth $46,000 after purchasing an additional 228 shares during the last quarter. 91.86% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on FMC. Loop Capital boosted their price target on FMC from $55.00 to $65.00 and gave the stock a “hold” rating in a report on Tuesday, March 19th. KeyCorp raised their price target on shares of FMC from $76.00 to $79.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. Wolfe Research assumed coverage on shares of FMC in a report on Friday, March 1st. They set a “peer perform” rating on the stock. Roth Mkm began coverage on shares of FMC in a research note on Thursday, January 4th. They issued a “buy” rating and a $74.00 price objective for the company. Finally, Royal Bank of Canada decreased their target price on shares of FMC from $61.00 to $59.00 and set an “outperform” rating on the stock in a research note on Thursday, February 8th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $71.75.

Insider Buying and Selling at FMC

In other news, CFO Andrew D. Sandifer bought 2,150 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were bought at an average cost of $59.22 per share, for a total transaction of $127,323.00. Following the acquisition, the chief financial officer now directly owns 50,088 shares in the company, valued at $2,966,211.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.81% of the company’s stock.

FMC Trading Down 2.0 %

FMC stock traded down $1.20 during trading hours on Tuesday, reaching $59.01. 1,954,886 shares of the company’s stock were exchanged, compared to its average volume of 1,942,466. The firm has a market capitalization of $7.37 billion, a PE ratio of 5.60, a PEG ratio of 1.88 and a beta of 0.87. The firm’s 50 day simple moving average is $59.61 and its 200 day simple moving average is $57.97. The company has a quick ratio of 1.01, a current ratio of 1.52 and a debt-to-equity ratio of 0.68. FMC Co. has a twelve month low of $49.49 and a twelve month high of $124.61.

FMC (NYSE:FMC) last issued its earnings results on Tuesday, February 6th. The basic materials company reported $1.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.08 by ($0.01). FMC had a return on equity of 12.98% and a net margin of 29.45%. The company had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the prior year, the company earned $2.37 earnings per share. Research analysts predict that FMC Co. will post 3.88 earnings per share for the current year.

FMC Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Friday, June 28th will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 3.93%. FMC’s payout ratio is currently 22.03%.

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.