The Manufacturers Life Insurance Company Lowers Holdings in FMC Co. (NYSE:FMC)

The Manufacturers Life Insurance Company lowered its stake in shares of FMC Co. (NYSE:FMC - Free Report) by 9.8% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 97,953 shares of the basic materials company's stock after selling 10,616 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.08% of FMC worth $6,459,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Commerce Bank lifted its position in shares of FMC by 3.7% during the third quarter. Commerce Bank now owns 5,135 shares of the basic materials company's stock worth $339,000 after purchasing an additional 183 shares in the last quarter. Dark Forest Capital Management LP lifted its holdings in FMC by 3.1% during the 2nd quarter. Dark Forest Capital Management LP now owns 6,465 shares of the basic materials company's stock worth $372,000 after buying an additional 192 shares in the last quarter. HB Wealth Management LLC boosted its position in FMC by 3.8% in the 2nd quarter. HB Wealth Management LLC now owns 5,649 shares of the basic materials company's stock valued at $325,000 after buying an additional 208 shares during the period. UMB Bank n.a. boosted its position in FMC by 56.9% in the 2nd quarter. UMB Bank n.a. now owns 678 shares of the basic materials company's stock valued at $39,000 after buying an additional 246 shares during the period. Finally, First Horizon Advisors Inc. grew its stake in shares of FMC by 90.8% in the third quarter. First Horizon Advisors Inc. now owns 517 shares of the basic materials company's stock worth $34,000 after acquiring an additional 246 shares in the last quarter. Institutional investors and hedge funds own 91.86% of the company's stock.

Insider Activity at FMC

In related news, VP Jacqueline Scanlan sold 4,529 shares of the business's stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $59.67, for a total value of $270,245.43. Following the transaction, the vice president now owns 28,649 shares in the company, valued at $1,709,485.83. The trade was a 13.65 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.85% of the stock is owned by insiders.

Analysts Set New Price Targets

FMC has been the subject of a number of recent research reports. Citigroup started coverage on FMC in a report on Wednesday, October 23rd. They issued a "neutral" rating and a $67.00 target price for the company. Mizuho boosted their price objective on FMC from $64.00 to $70.00 and gave the stock a "neutral" rating in a research report on Friday, November 1st. Royal Bank of Canada raised their target price on shares of FMC from $78.00 to $81.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. boosted their price target on shares of FMC from $50.00 to $59.00 and gave the stock a "neutral" rating in a report on Monday, August 12th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $68.00.

FMC Stock Performance

NYSE FMC traded down $0.61 during trading hours on Friday, hitting $56.58. The company had a trading volume of 1,036,597 shares, compared to its average volume of 1,648,686. The business has a 50 day moving average of $60.92 and a 200-day moving average of $60.46. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.09 and a current ratio of 1.48. FMC Co. has a 1-year low of $50.03 and a 1-year high of $68.72. The company has a market cap of $7.06 billion, a PE ratio of 4.90, a price-to-earnings-growth ratio of 1.57 and a beta of 0.80.

FMC (NYSE:FMC - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The basic materials company reported $0.69 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.49 by $0.20. The firm had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.04 billion. FMC had a return on equity of 7.68% and a net margin of 34.93%. The firm's quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.44 EPS. As a group, equities research analysts expect that FMC Co. will post 3.35 EPS for the current year.

FMC Profile

FMC Corporation, an agricultural sciences company, provides crop protection, plant health, and professional pest and turf management products. It develops, markets, and sells crop protection chemicals that includes insecticides, herbicides, and fungicides; and biologicals, crop nutrition, and seed treatment products, which 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.