Hennessy Advisors Inc. Acquires Shares of 304,000 FMC Corp. (FMC)
Hennessy Advisors Inc. purchased a new stake in FMC Corp. (NYSE:FMC) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 304,000 shares of the company’s stock, valued at approximately $14,695,000. Hennessy Advisors Inc. owned 0.23% of FMC Corp. at the end of the most recent quarter.
Several other large investors have also modified their holdings of the company. Murphy Capital Management Inc. acquired a new stake in shares of FMC Corp. during the second quarter valued at approximately $240,000. Charter Trust Co. purchased a new position in FMC Corp. during the second quarter valued at $218,000. Cedar Hill Associates LLC raised its position in FMC Corp. by 3.4% in the second quarter. Cedar Hill Associates LLC now owns 155,175 shares of the company’s stock valued at $7,186,000 after buying an additional 5,050 shares during the last quarter. CrestPoint Capital Management LLC raised its position in FMC Corp. by 16.3% in the second quarter. CrestPoint Capital Management LLC now owns 23,600 shares of the company’s stock valued at $1,093,000 after buying an additional 3,300 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its position in FMC Corp. by 79.8% in the second quarter. Nisa Investment Advisors LLC now owns 87,355 shares of the company’s stock valued at $4,045,000 after buying an additional 38,775 shares during the last quarter. Institutional investors own 92.80% of the company’s stock.
FMC Corp. (NYSE:FMC) traded up 1.30% on Wednesday, hitting $55.51. 319,563 shares of the stock were exchanged. The firm’s market cap is $7.43 billion. The company has a 50-day moving average price of $50.36 and a 200-day moving average price of $48.26. FMC Corp. has a 52-week low of $32.24 and a 52-week high of $55.69.
FMC Corp. (NYSE:FMC) last announced its quarterly earnings data on Wednesday, November 2nd. The company reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.08. FMC Corp. had a positive return on equity of 18.06% and a negative net margin of 0.33%. The company earned $808 million during the quarter, compared to analyst estimates of $674.10 million. During the same quarter last year, the firm posted $0.42 EPS. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. On average, equities research analysts anticipate that FMC Corp. will post $2.82 EPS for the current fiscal year.
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A number of research analysts have weighed in on FMC shares. Jefferies Group reaffirmed a “buy” rating and issued a $58.00 price target on shares of FMC Corp. in a research note on Thursday, September 29th. BMO Capital Markets restated a “hold” rating on shares of FMC Corp. in a report on Friday, November 4th. Zacks Investment Research upgraded shares of FMC Corp. from a “sell” rating to a “hold” rating and set a $59.00 target price on the stock in a report on Friday, November 4th. Nomura restated a “hold” rating on shares of FMC Corp. in a report on Thursday, November 3rd. Finally, Credit Suisse Group AG restated a “hold” rating and set a $44.00 target price on shares of FMC Corp. in a report on Wednesday, August 3rd. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. FMC Corp. presently has a consensus rating of “Hold” and a consensus target price of $47.00.
FMC Corp. Company Profile
FMC Corporation is a diversified chemical company serving agricultural, consumer and industrial markets. The Company operates through three business segments: FMC Agricultural Solutions, FMC Health and Nutrition, and FMC Lithium. The Company’s FMC Agricultural Solutions segment develops, markets and sells over three classes of crop protection chemicals, including insecticides, herbicides and fungicides.
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