Traders Buy Shares of FMC (FMC) on Weakness
Traders bought shares of FMC Corporation (NYSE:FMC) on weakness during trading on Friday. $52.51 million flowed into the stock on the tick-up and $16.93 million flowed out of the stock on the tick-down, for a money net flow of $35.58 million into the stock. Of all companies tracked, FMC had the 27th highest net in-flow for the day. FMC traded down ($0.47) for the day and closed at $93.93
FMC has been the topic of a number of recent analyst reports. Credit Suisse Group set a $93.00 target price on FMC and gave the stock a “buy” rating in a report on Thursday, August 3rd. They noted that the move was a valuation call. Piper Jaffray Companies reissued a “hold” rating and set a $85.00 target price on shares of FMC in a report on Thursday, August 3rd. BMO Capital Markets boosted their target price on FMC from $75.00 to $80.00 and gave the stock a “market perform” rating in a report on Thursday, August 3rd. Royal Bank Of Canada boosted their target price on FMC from $83.00 to $93.00 and gave the stock an “outperform” rating in a report on Friday, August 4th. Finally, Nomura raised FMC from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $78.00 to $97.00 in a report on Friday, August 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $90.94.
The stock has a market cap of $12,610.00, a P/E ratio of 37.95, a PEG ratio of 3.17 and a beta of 1.61. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.81 and a current ratio of 2.19.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in FMC. Advisor Partners LLC bought a new stake in FMC in the 3rd quarter valued at $216,000. Achmea Investment Management B.V. bought a new stake in shares of FMC during the 3rd quarter valued at $246,000. Nordea Investment Management AB lifted its position in shares of FMC by 99.7% during the 3rd quarter. Nordea Investment Management AB now owns 8,042 shares of the basic materials company’s stock valued at $718,000 after acquiring an additional 4,015 shares during the period. Virginia Retirement Systems ET AL bought a new stake in shares of FMC during the 3rd quarter valued at $831,000. Finally, Hanseatic Management Services Inc. lifted its position in shares of FMC by 13.3% during the 2nd quarter. Hanseatic Management Services Inc. now owns 14,350 shares of the basic materials company’s stock valued at $1,048,000 after acquiring an additional 1,688 shares during the period. Institutional investors and hedge funds own 89.29% of the company’s stock.
FMC Corporation is a diversified chemical company serving agricultural, consumer and industrial markets. The Company operates in three business segments: FMC Agricultural Solutions, FMC Health and Nutrition, and FMC Lithium. As of December 31, 2016, the FMC Agricultural Solutions segment developed, marketed and sold three classes of crop protection chemicals: insecticides, herbicides and fungicides.
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