Ballentine Partners LLC Has $578,000 Stock Position in FMC Co. (NYSE:FMC)

Ballentine Partners LLC increased its stake in FMC Co. (NYSE:FMC) by 43.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 8,770 shares of the basic materials company’s stock after purchasing an additional 2,661 shares during the quarter. Ballentine Partners LLC’s holdings in FMC were worth $578,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its position in FMC by 35.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,061,828 shares of the basic materials company’s stock worth $322,439,000 after buying an additional 1,316,133 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of FMC by 317.7% during the 2nd quarter. AQR Capital Management LLC now owns 1,099,389 shares of the basic materials company’s stock worth $63,160,000 after acquiring an additional 836,179 shares during the last quarter. Vanguard Group Inc. lifted its holdings in FMC by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 15,290,219 shares of the basic materials company’s stock valued at $973,987,000 after purchasing an additional 768,432 shares during the last quarter. Maple Rock Capital Partners Inc. bought a new position in FMC during the first quarter worth $37,686,000. Finally, Pzena Investment Management LLC acquired a new position in shares of FMC in the second quarter valued at $33,191,000. 91.86% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

FMC has been the subject of a number of research reports. Wells Fargo & Company cut their target price on shares of FMC from $68.00 to $62.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. Citigroup assumed coverage on shares of FMC in a research report on Wednesday, October 23rd. They set a “neutral” rating and a $67.00 price objective for the company. KeyCorp decreased their target price on FMC from $81.00 to $79.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. BMO Capital Markets lifted their price target on FMC from $60.00 to $65.00 and gave the stock a “market perform” rating in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. upped their price objective on FMC from $50.00 to $59.00 and gave the company a “neutral” rating in a report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, FMC presently has an average rating of “Hold” and a consensus target price of $67.00.

FMC Stock Up 0.8 %

Shares of FMC opened at $62.00 on Monday. The firm has a 50 day simple moving average of $63.32 and a two-hundred day simple moving average of $60.74. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.48 and a quick ratio of 1.07. FMC Co. has a one year low of $49.49 and a one year high of $68.72. The company has a market cap of $7.74 billion, a P/E ratio of 5.60, a P/E/G ratio of 1.59 and a beta of 0.85.

FMC (NYSE:FMC) last announced its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.08. FMC had a return on equity of 7.52% and a net margin of 33.97%. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the company earned $0.50 EPS. FMC’s revenue for the quarter was up 2.4% on a year-over-year basis. Research analysts forecast that FMC Co. will post 3.31 EPS for the current fiscal year.

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.