BlackRock Inc. Sells 98,346 Shares of FMC Corp (NYSE:FMC)

BlackRock Inc. lessened its holdings in shares of FMC Corp (NYSE:FMC) by 1.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,063,724 shares of the basic materials company’s stock after selling 98,346 shares during the quarter. BlackRock Inc. owned approximately 6.95% of FMC worth $751,837,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Huntington National Bank raised its position in FMC by 754.1% during the second quarter. Huntington National Bank now owns 316 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 279 shares in the last quarter. Squar Milner Financial Services LLC raised its position in FMC by 51.4% during the second quarter. Squar Milner Financial Services LLC now owns 383 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 130 shares in the last quarter. Ellevest Inc. raised its position in FMC by 91.2% during the second quarter. Ellevest Inc. now owns 457 shares of the basic materials company’s stock valued at $38,000 after acquiring an additional 218 shares in the last quarter. Parallel Advisors LLC raised its position in FMC by 46.9% during the second quarter. Parallel Advisors LLC now owns 501 shares of the basic materials company’s stock valued at $42,000 after acquiring an additional 160 shares in the last quarter. Finally, CSat Investment Advisory L.P. raised its position in FMC by 108.1% during the second quarter. CSat Investment Advisory L.P. now owns 743 shares of the basic materials company’s stock valued at $62,000 after acquiring an additional 386 shares in the last quarter. 89.52% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have recently commented on FMC shares. Credit Suisse Group lifted their price target on shares of FMC from $97.00 to $102.00 and gave the company an “outperform” rating in a research report on Thursday, August 1st. Bank of America lowered shares of FMC from a “buy” rating to a “neutral” rating in a research report on Thursday, August 1st. BMO Capital Markets set a $100.00 price target on shares of FMC and gave the company a “buy” rating in a research report on Thursday, September 12th. Nomura lifted their price target on shares of FMC from $93.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Royal Bank of Canada raised shares of FMC from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $87.00 to $103.00 in a research report on Friday, August 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $99.41.

Shares of FMC stock opened at $97.70 on Friday. The company’s fifty day simple moving average is $86.43 and its 200-day simple moving average is $83.17. The company has a market cap of $12.56 billion, a price-to-earnings ratio of 15.53, a PEG ratio of 1.61 and a beta of 1.47. The company has a current ratio of 1.62, a quick ratio of 1.15 and a debt-to-equity ratio of 1.13. FMC Corp has a 1 year low of $69.36 and a 1 year high of $98.17.

FMC (NYSE:FMC) last announced its quarterly earnings data on Tuesday, October 29th. The basic materials company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.80 by $0.14. The business had revenue of $1,000.00 million for the quarter, compared to the consensus estimate of $978.47 million. FMC had a net margin of 11.08% and a return on equity of 27.94%. FMC’s quarterly revenue was down 3.5% on a year-over-year basis. During the same quarter last year, the company posted $0.98 earnings per share. As a group, research analysts forecast that FMC Corp will post 5.86 earnings per share for the current fiscal year.

In other news, insider Nicholas Pfeiffer sold 9,218 shares of the firm’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $90.88, for a total value of $837,731.84. Following the sale, the insider now owns 17,706 shares in the company, valued at $1,609,121.28. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Mark Douglas sold 22,390 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $89.83, for a total transaction of $2,011,293.70. Following the completion of the sale, the chief operating officer now owns 60,584 shares in the company, valued at approximately $5,442,260.72. The disclosure for this sale can be found here. In the last 90 days, insiders sold 56,346 shares of company stock worth $5,245,643. 1.50% of the stock is currently owned by corporate insiders.

FMC 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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Institutional Ownership by Quarter for FMC (NYSE:FMC)

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