FMC Corporation (FMC) Short Interest Up 40.9% in October
FMC Corporation (NYSE:FMC) was the recipient of a large increase in short interest in the month of October. As of October 13th, there was short interest totalling 2,751,123 shares, an increase of 40.9% from the September 29th total of 1,953,113 shares. Approximately 2.1% of the company’s shares are sold short. Based on an average trading volume of 908,388 shares, the short-interest ratio is presently 3.0 days.
In other FMC Corporation news, VP Andrea E. Utecht sold 14,174 shares of the stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $84.00, for a total transaction of $1,190,616.00. Following the completion of the sale, the vice president now directly owns 131,639 shares in the company, valued at approximately $11,057,676. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.10% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in FMC. Teachers Advisors LLC grew its holdings in FMC Corporation by 244.3% in the first quarter. Teachers Advisors LLC now owns 522,556 shares of the basic materials company’s stock worth $36,365,000 after purchasing an additional 370,781 shares during the period. Canada Pension Plan Investment Board grew its holdings in FMC Corporation by 78.8% in the second quarter. Canada Pension Plan Investment Board now owns 219,070 shares of the basic materials company’s stock worth $16,003,000 after purchasing an additional 96,559 shares during the period. Dimensional Fund Advisors LP grew its holdings in FMC Corporation by 7.7% in the first quarter. Dimensional Fund Advisors LP now owns 515,431 shares of the basic materials company’s stock worth $35,840,000 after purchasing an additional 37,011 shares during the period. Bank of Nova Scotia purchased a new stake in FMC Corporation in the first quarter worth about $2,123,000. Finally, Nationwide Fund Advisors grew its holdings in FMC Corporation by 12.0% in the third quarter. Nationwide Fund Advisors now owns 278,929 shares of the basic materials company’s stock worth $24,911,000 after purchasing an additional 29,858 shares during the period. Institutional investors and hedge funds own 90.65% of the company’s stock.
Shares of FMC Corporation (FMC) opened at 92.35 on Tuesday. FMC Corporation has a 52 week low of $45.91 and a 52 week high of $95.08. The stock has a 50 day moving average price of $91.25 and a 200 day moving average price of $81.02. The firm has a market capitalization of $12.39 billion, a P/E ratio of 274.04 and a beta of 1.61.
FMC Corporation (NYSE:FMC) last announced its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.01. FMC Corporation had a net margin of 1.58% and a return on equity of 16.51%. The company had revenue of $656.80 million for the quarter, compared to analysts’ expectations of $614.01 million. During the same quarter in the previous year, the company earned $0.46 earnings per share. FMC Corporation’s quarterly revenue was up 6.7% on a year-over-year basis. Analysts forecast that FMC Corporation will post $2.43 EPS for the current year.
FMC has been the subject of a number of recent analyst reports. Jefferies Group LLC reiterated a “buy” rating and set a $84.00 price target on shares of FMC Corporation in a report on Thursday, July 6th. Zacks Investment Research upgraded FMC Corporation from a “hold” rating to a “buy” rating and set a $84.00 price target for the company in a report on Monday, July 10th. Royal Bank Of Canada reiterated a “buy” rating and set a $83.00 price target on shares of FMC Corporation in a report on Wednesday, July 12th. Seaport Global Securities downgraded FMC Corporation from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $82.00 to $80.00 in a report on Tuesday, July 18th. Finally, BidaskClub upgraded FMC Corporation from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, five have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. FMC Corporation has an average rating of “Buy” and an average target price of $88.24.
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FMC Corporation Company Profile
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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