Alliancebernstein L.P. boosted its holdings in shares of FMC Corp (NYSE:FMC) by 1.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 273,048 shares of the basic materials company’s stock after purchasing an additional 2,860 shares during the quarter. Alliancebernstein L.P. owned about 0.20% of FMC worth $23,804,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of FMC. Piedmont Investment Advisors Inc. increased its position in shares of FMC by 242.6% during the 3rd quarter. Piedmont Investment Advisors Inc. now owns 5,328 shares of the basic materials company’s stock valued at $464,000 after purchasing an additional 3,773 shares during the last quarter. Norinchukin Bank The increased its position in shares of FMC by 13.6% during the 3rd quarter. Norinchukin Bank The now owns 17,316 shares of the basic materials company’s stock valued at $1,510,000 after purchasing an additional 2,075 shares during the last quarter. Capital Analysts LLC increased its position in shares of FMC by 5.4% during the 3rd quarter. Capital Analysts LLC now owns 13,922 shares of the basic materials company’s stock valued at $1,214,000 after purchasing an additional 714 shares during the last quarter. Oakview Capital Management L.P. increased its position in shares of FMC by 6.3% during the 3rd quarter. Oakview Capital Management L.P. now owns 171,909 shares of the basic materials company’s stock valued at $14,987,000 after purchasing an additional 10,215 shares during the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of FMC during the 3rd quarter valued at approximately $2,112,000. 90.08% of the stock is currently owned by institutional investors.
FMC opened at $82.74 on Monday. FMC Corp has a 52-week low of $72.73 and a 52-week high of $98.70. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.54 and a quick ratio of 1.10. The firm has a market cap of $11.14 billion, a P/E ratio of 30.53, a price-to-earnings-growth ratio of 0.88 and a beta of 1.60.
FMC (NYSE:FMC) last posted its quarterly earnings data on Monday, November 5th. The basic materials company reported $0.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.06. FMC had a return on equity of 26.26% and a net margin of 22.28%. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter in the previous year, the business earned $0.70 EPS. FMC’s revenue was up 60.4% compared to the same quarter last year. As a group, research analysts forecast that FMC Corp will post 6 earnings per share for the current fiscal year.
Several research firms have recently weighed in on FMC. Credit Suisse Group set a $105.00 target price on FMC and gave the company a “buy” rating in a research report on Monday, November 26th. Buckingham Research assumed coverage on FMC in a report on Wednesday, November 14th. They set a “buy” rating and a $106.00 price objective for the company. Citigroup set a $96.00 price objective on FMC and gave the company a “buy” rating in a report on Sunday, November 11th. ValuEngine upgraded FMC from a “sell” rating to a “hold” rating in a report on Thursday, November 1st. Finally, Loop Capital assumed coverage on FMC in a report on Friday, November 9th. They set a “buy” rating and a $118.00 price objective for the company. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $102.23.
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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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