State of Alaska Department of Revenue Raises Stock Holdings in FMC Co. (NYSE:FMC)

State of Alaska Department of Revenue raised its position in FMC Co. (NYSE:FMC) by 7.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,515 shares of the basic materials company’s stock after buying an additional 980 shares during the quarter. State of Alaska Department of Revenue’s holdings in FMC were worth $957,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dark Forest Capital Management LP raised its stake in shares of FMC by 3.1% during the second quarter. Dark Forest Capital Management LP now owns 6,465 shares of the basic materials company’s stock worth $372,000 after purchasing an additional 192 shares during the last quarter. HB Wealth Management LLC raised its stake in shares of FMC by 3.8% during the second quarter. HB Wealth Management LLC now owns 5,649 shares of the basic materials company’s stock worth $325,000 after purchasing an additional 208 shares during the last quarter. CreativeOne Wealth LLC raised its stake in shares of FMC by 6.7% during the first quarter. CreativeOne Wealth LLC now owns 3,926 shares of the basic materials company’s stock worth $250,000 after purchasing an additional 246 shares during the last quarter. UMB Bank n.a. raised its stake in shares of FMC by 56.9% during the second quarter. UMB Bank n.a. now owns 678 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 246 shares during the last quarter. Finally, Benjamin Edwards Inc. raised its stake in shares of FMC by 24.3% during the second quarter. Benjamin Edwards Inc. now owns 1,326 shares of the basic materials company’s stock worth $76,000 after purchasing an additional 259 shares during the last quarter. Hedge funds and other institutional investors own 91.86% of the company’s stock.

FMC Stock Up 0.3 %

FMC stock opened at $63.63 on Wednesday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.09 and a current ratio of 1.48. The firm has a market capitalization of $7.94 billion, a price-to-earnings ratio of 5.43, a price-to-earnings-growth ratio of 1.66 and a beta of 0.85. FMC Co. has a fifty-two week low of $49.49 and a fifty-two week high of $68.72. The stock’s fifty day moving average is $63.17 and its two-hundred day moving average is $61.00.

FMC (NYSE:FMC) last posted its earnings results on Tuesday, October 29th. The basic materials company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.20. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.04 billion. FMC had a return on equity of 7.68% and a net margin of 34.93%. FMC’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.44 earnings per share. Analysts predict that FMC Co. will post 3.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Citigroup assumed coverage on FMC in a research note on Wednesday, October 23rd. They set a “neutral” rating and a $67.00 price target for the company. Redburn Atlantic upgraded FMC from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 19th. JPMorgan Chase & Co. upped their price objective on FMC from $50.00 to $59.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Wells Fargo & Company dropped their price objective on FMC from $68.00 to $62.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Finally, BMO Capital Markets upped their price objective on FMC from $60.00 to $65.00 and gave the stock a “market perform” rating in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, ten have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $68.00.

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.