Sumitomo Mitsui Trust Group Inc. Sells 37,564 Shares of FMC Co. (NYSE:FMC)

Sumitomo Mitsui Trust Group Inc. lowered its stake in shares of FMC Co. (NYSE:FMC) by 67.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,505 shares of the basic materials company’s stock after selling 37,564 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in FMC were worth $1,220,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of FMC. US Bancorp DE increased its stake in FMC by 8.7% in the first quarter. US Bancorp DE now owns 13,410 shares of the basic materials company’s stock valued at $854,000 after purchasing an additional 1,072 shares in the last quarter. Kingsview Wealth Management LLC acquired a new stake in FMC during the 1st quarter worth $206,000. Vanguard Group Inc. lifted its holdings in FMC by 5.3% during the first quarter. Vanguard Group Inc. now owns 15,290,219 shares of the basic materials company’s stock worth $973,987,000 after acquiring an additional 768,432 shares in the last quarter. UniSuper Management Pty Ltd grew its stake in FMC by 659.9% in the first quarter. UniSuper Management Pty Ltd now owns 15,866 shares of the basic materials company’s stock valued at $1,011,000 after acquiring an additional 13,778 shares during the period. Finally, Pitcairn Co. increased its holdings in shares of FMC by 7.3% in the first quarter. Pitcairn Co. now owns 4,867 shares of the basic materials company’s stock worth $310,000 after acquiring an additional 330 shares in the last quarter. 91.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FMC. Barclays boosted their price objective on FMC from $62.00 to $65.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. Mizuho upped their price target on shares of FMC from $64.00 to $70.00 and gave the company a “neutral” rating in a report on Friday, November 1st. BMO Capital Markets raised their price objective on shares of FMC from $60.00 to $65.00 and gave the stock a “market perform” rating in a report on Friday, August 2nd. 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 for the company. Finally, Royal Bank of Canada lifted their price target on FMC from $78.00 to $81.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $68.00.

Insider Transactions at FMC

In other FMC news, VP Jacqueline Scanlan sold 4,529 shares of the firm’s 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 $1,709,485.83. This trade represents a 13.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.85% of the company’s stock.

FMC Stock Performance

Shares of FMC opened at $55.60 on Wednesday. FMC Co. has a one year low of $50.03 and a one year high of $68.72. The company has a market cap of $6.94 billion, a PE ratio of 4.78, a P/E/G ratio of 1.43 and a beta of 0.85. The stock has a 50-day moving average of $61.99 and a 200-day moving average of $60.92. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.48 and a quick ratio of 1.09.

FMC (NYSE:FMC) last issued its quarterly earnings data 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 firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same period last year, the company earned $0.44 earnings per share. The business’s revenue was up 8.5% on a year-over-year basis. On average, equities research analysts predict that FMC Co. will post 3.35 EPS for the current fiscal year.

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.