Citigroup Inc. Trims Position in FMC Co. (NYSE:FMC)

Citigroup Inc. cut its holdings in shares of FMC Co. (NYSE:FMC) by 31.5% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 409,541 shares of the basic materials company’s stock after selling 188,078 shares during the quarter. Citigroup Inc.’s holdings in FMC were worth $27,005,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in FMC. California State Teachers Retirement System lifted its holdings in shares of FMC by 11.0% during the 1st quarter. California State Teachers Retirement System now owns 322,693 shares of the basic materials company’s stock worth $20,556,000 after acquiring an additional 31,858 shares during the period. Tidal Investments LLC raised its stake in FMC by 71.8% during the first quarter. Tidal Investments LLC now owns 36,512 shares of the basic materials company’s stock worth $2,321,000 after purchasing an additional 15,262 shares during the period. Comerica Bank grew its stake in shares of FMC by 23.0% during the 1st quarter. Comerica Bank now owns 45,814 shares of the basic materials company’s stock valued at $2,918,000 after buying an additional 8,562 shares during the period. Jaffetilchin Investment Partners LLC acquired a new stake in shares of FMC during the 1st quarter worth $238,000. Finally, WealthPlan Investment Management LLC raised its position in shares of FMC by 99.3% in the 1st quarter. WealthPlan Investment Management LLC now owns 21,119 shares of the basic materials company’s stock worth $1,345,000 after buying an additional 10,523 shares during the period. 91.86% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on FMC shares. Barclays boosted their price target on FMC from $62.00 to $65.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. BMO Capital Markets increased their target price on shares of FMC from $60.00 to $65.00 and gave the stock a “market perform” rating in a research report on Friday, August 2nd. Royal Bank of Canada lifted their price target on shares of FMC from $78.00 to $81.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Mizuho boosted their price objective on shares of FMC from $64.00 to $70.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Finally, KeyCorp cut their target price on shares of FMC from $81.00 to $79.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, ten have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, FMC has a consensus rating of “Hold” and a consensus price target of $68.00.

FMC Stock Up 3.2 %

Shares of FMC stock opened at $60.62 on Tuesday. FMC Co. has a 1-year low of $50.03 and a 1-year high of $68.72. The company has a market capitalization of $7.57 billion, a PE ratio of 5.22, a P/E/G ratio of 1.55 and a beta of 0.85. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.48 and a quick ratio of 1.09. The business has a 50-day moving average of $61.69 and a 200-day moving average of $60.74.

FMC (NYSE:FMC) last issued its quarterly earnings data on Tuesday, October 29th. The basic materials company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.49 by $0.20. FMC had a return on equity of 7.68% and a net margin of 34.93%. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter last year, the firm earned $0.44 EPS. FMC’s quarterly revenue was up 8.5% on a year-over-year basis. As a group, equities analysts forecast that FMC Co. will post 3.35 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Jacqueline Scanlan sold 4,529 shares of FMC stock in a transaction dated 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 transaction, the vice president now directly owns 28,649 shares in the company, valued at approximately $1,709,485.83. This trade represents a 13.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.81% of the company’s stock.

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.