Fmr LLC Trims Position in FMC Co. (NYSE:FMC)

Fmr LLC lowered its stake in shares of FMC Co. (NYSE:FMC) by 34.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 491,267 shares of the basic materials company’s stock after selling 263,844 shares during the period. Fmr LLC’s holdings in FMC were worth $32,394,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. increased its stake in FMC by 90.8% in the 3rd quarter. First Horizon Advisors Inc. now owns 517 shares of the basic materials company’s stock valued at $34,000 after buying an additional 246 shares during the period. Mather Group LLC. raised its holdings in FMC by 250.6% during the third quarter. Mather Group LLC. now owns 554 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 396 shares in the last quarter. UMB Bank n.a. lifted its position in FMC by 56.9% in the second quarter. UMB Bank n.a. now owns 678 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 246 shares during the period. Peterson Financial Group Inc. purchased a new stake in FMC in the 3rd quarter valued at approximately $51,000. Finally, GAMMA Investing LLC increased its position in FMC by 120.9% during the 3rd quarter. GAMMA Investing LLC now owns 919 shares of the basic materials company’s stock worth $61,000 after purchasing an additional 503 shares during the period. 91.86% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other FMC news, VP Jacqueline Scanlan sold 4,529 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $59.67, for a total transaction of $270,245.43. Following the completion of the sale, the vice president now owns 28,649 shares in the company, valued at $1,709,485.83. This trade represents a 13.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.85% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on FMC. Citigroup initiated coverage on FMC in a report on Wednesday, October 23rd. They issued a “neutral” rating and a $67.00 price target for the company. Royal Bank of Canada boosted their target price on shares of FMC from $78.00 to $81.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Mizuho increased 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. Finally, JPMorgan Chase & Co. boosted their price objective on shares of FMC from $50.00 to $59.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, FMC currently has a consensus rating of “Hold” and an average target price of $68.00.

FMC Price Performance

Shares of NYSE FMC opened at $56.58 on Monday. 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 Co. has a 1-year low of $50.03 and a 1-year high of $68.72. The company has a market capitalization of $7.06 billion, a price-to-earnings ratio of 4.87, a PEG ratio of 1.55 and a beta of 0.80. The business has a 50-day moving average of $60.73 and a 200-day moving average of $60.36.

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 the consensus estimate of $0.49 by $0.20. The company had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.04 billion. FMC had a net margin of 34.93% and a return on equity of 7.68%. FMC’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter last year, the company earned $0.44 earnings per share. On average, equities analysts anticipate that FMC Co. will post 3.35 EPS for the current fiscal year.

FMC Company 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.