FMC Corp (FMC) Stake Decreased by Systematic Financial Management LP
Systematic Financial Management LP cut its position in shares of FMC Corp (NYSE:FMC) by 1.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 197,718 shares of the basic materials company’s stock after selling 2,346 shares during the period. Systematic Financial Management LP owned 0.15% of FMC worth $17,237,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. North Star Investment Management Corp. acquired a new position in shares of FMC during the 2nd quarter worth about $116,000. Thompson Davis & CO. Inc. grew its stake in FMC by 307.1% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 1,425 shares of the basic materials company’s stock valued at $127,000 after buying an additional 1,075 shares during the last quarter. SRS Capital Advisors Inc. acquired a new position in FMC in the 3rd quarter valued at about $125,000. Whittier Trust Co. of Nevada Inc. grew its stake in FMC by 221.1% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,525 shares of the basic materials company’s stock valued at $136,000 after buying an additional 1,050 shares during the last quarter. Finally, Piedmont Investment Advisors LLC acquired a new position in FMC in the 2nd quarter valued at about $139,000. Institutional investors own 89.21% of the company’s stock.
In other news, Director Dirk A. Kempthorne acquired 1,173 shares of the firm’s stock in a transaction dated Tuesday, August 28th. The stock was bought at an average cost of $86.12 per share, for a total transaction of $101,018.76. Following the completion of the transaction, the director now directly owns 35,783 shares in the company, valued at approximately $3,081,631.96. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.20% of the company’s stock.
FMC (NYSE:FMC) last announced its quarterly earnings results on Monday, November 5th. The basic materials company reported $0.98 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.06. FMC had a net margin of 22.28% and a return on equity of 26.26%. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same period in the prior year, the company posted $0.70 EPS. The company’s revenue was up 60.4% on a year-over-year basis. As a group, research analysts expect that FMC Corp will post 6.03 earnings per share for the current year.
A number of research analysts recently commented on the stock. Citigroup assumed coverage on shares of FMC in a research note on Monday, November 5th. They issued a “buy” rating and a $92.00 price target on the stock. ValuEngine upgraded shares of FMC from a “sell” rating to a “hold” rating in a research note on Thursday, November 1st. Loop Capital assumed coverage on shares of FMC in a research note on Friday. They issued a “buy” rating and a $118.00 price target on the stock. Credit Suisse Group assumed coverage on shares of FMC in a research note on Monday, November 5th. They issued an “outperform” rating and a $103.00 price target on the stock. Finally, Zacks Investment Research lowered shares of FMC from a “buy” rating to a “hold” rating in a research note on Thursday, July 19th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $101.75.
FMC Company Profile
FMC Corporation, a diversified chemical company, provides solutions, applications, and products for the agricultural, consumer, and industrial markets worldwide. The company operates in two segments, FMC Agricultural Solutions and FMC Lithium. The FMC Agricultural Solutions segment develops, manufactures, markets, and sells crop protection chemicals, including insecticides, herbicides, and fungicides that 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.
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