Exchange Traded Concepts LLC Makes New Investment in FMC Co. (NYSE:FMC)

Exchange Traded Concepts LLC bought a new stake in shares of FMC Co. (NYSE:FMC) during the 3rd quarter, Holdings Channel.com reports. The fund bought 1,589 shares of the basic materials company’s stock, valued at approximately $105,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. grew its stake in FMC by 5.3% in the first 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. Price T Rowe Associates Inc. MD boosted its holdings in shares of FMC by 35.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,061,828 shares of the basic materials company’s stock valued at $322,439,000 after buying an additional 1,316,133 shares in the last quarter. AQR Capital Management LLC grew its position in shares of FMC by 317.7% in 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 buying an additional 836,179 shares during the last quarter. Russell Investments Group Ltd. raised its stake in shares of FMC by 11.6% during the 1st quarter. Russell Investments Group Ltd. now owns 903,274 shares of the basic materials company’s stock worth $57,538,000 after acquiring an additional 93,892 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in FMC by 2.1% during the second quarter. Bank of New York Mellon Corp now owns 858,129 shares of the basic materials company’s stock valued at $49,385,000 after acquiring an additional 17,381 shares during the last quarter. 91.86% of the stock is currently owned by hedge funds and other institutional investors.

FMC Trading Up 0.1 %

Shares of FMC stock opened at $62.38 on Wednesday. The stock has a market cap of $7.79 billion, a PE ratio of 6.96, a price-to-earnings-growth ratio of 1.53 and a beta of 0.85. The firm has a fifty day moving average price of $63.32 and a 200 day moving average price of $60.72. FMC Co. has a 1 year low of $49.49 and a 1 year high of $68.72. 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 (NYSE:FMC) last issued its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.08. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. FMC had a return on equity of 7.52% and a net margin of 33.97%. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.50 EPS. Equities research analysts predict that FMC Co. will post 3.4 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on FMC shares. BMO Capital Markets raised their price objective on FMC from $60.00 to $65.00 and gave the stock a “market perform” rating in a research report on Friday, August 2nd. Wells Fargo & Company decreased their price target on FMC from $68.00 to $62.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. Redburn Atlantic upgraded FMC from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 19th. Barclays increased their price objective on shares of FMC from $62.00 to $65.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. Finally, JPMorgan Chase & Co. boosted their target price on shares of FMC from $50.00 to $59.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $66.64.

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.