Townsquare Capital LLC Cuts Stock Position in FMC Co. (NYSE:FMC)

Townsquare Capital LLC cut its stake in shares of FMC Co. (NYSE:FMC) by 81.6% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 9,950 shares of the basic materials company’s stock after selling 44,205 shares during the period. Townsquare Capital LLC’s holdings in FMC were worth $656,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FMC. AQR Capital Management LLC raised its position 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 purchasing an additional 836,179 shares during the last quarter. Pzena Investment Management LLC acquired a new position in shares of FMC during the second quarter valued at approximately $33,191,000. Van ECK Associates Corp lifted its position in shares of FMC by 116.8% in the second quarter. Van ECK Associates Corp now owns 555,095 shares of the basic materials company’s stock valued at $31,946,000 after acquiring an additional 299,097 shares in the last quarter. Mizuho Securities USA LLC boosted its stake in shares of FMC by 2,531.3% in the third quarter. Mizuho Securities USA LLC now owns 253,179 shares of the basic materials company’s stock worth $16,695,000 after acquiring an additional 243,557 shares during the last quarter. Finally, Federated Hermes Inc. purchased a new stake in shares of FMC during the second quarter worth approximately $13,492,000. 91.86% of the stock is owned by hedge funds and other institutional investors.

FMC Stock Up 0.3 %

Shares of FMC opened at $59.53 on Wednesday. The company’s 50-day moving average price is $61.30 and its 200 day moving average price is $60.52. FMC Co. has a 12-month low of $50.03 and a 12-month high of $68.72. The company has a current ratio of 1.48, a quick ratio of 1.09 and a debt-to-equity ratio of 0.65. The firm has a market cap of $7.43 billion, a P/E ratio of 5.12, a price-to-earnings-growth ratio of 1.56 and a beta of 0.80.

FMC (NYSE:FMC) last released its quarterly earnings results on Tuesday, October 29th. The basic materials company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.20. FMC had a net margin of 34.93% and a return on equity of 7.68%. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the previous year, the firm earned $0.44 EPS. The business’s revenue was up 8.5% on a year-over-year basis. On average, sell-side analysts forecast that FMC Co. will post 3.35 earnings per share for the current year.

Analyst Ratings Changes

FMC has been the topic of a number of research reports. Mizuho raised their price objective on FMC from $64.00 to $70.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Citigroup began coverage on shares of FMC in a research note on Wednesday, October 23rd. They issued a “neutral” rating and a $67.00 target price on the stock. Royal Bank of Canada upped their price target on FMC from $78.00 to $81.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. lifted their price objective on FMC from $50.00 to $59.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, FMC has an average rating of “Hold” and an average target price of $68.00.

Insider Buying and Selling at FMC

In other news, VP Jacqueline Scanlan sold 4,529 shares of FMC stock in a transaction on Monday, November 11th. The stock was sold at an average price of $59.67, for a total value of $270,245.43. Following the completion of the sale, the vice president now directly owns 28,649 shares of the company’s stock, valued at approximately $1,709,485.83. The trade was a 13.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.81% of the stock is owned by corporate insiders.

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.