Old North State Wealth Management LLC Makes New $2.99 Million Investment in FMC Co. (NYSE:FMC)

Old North State Wealth Management LLC bought a new stake in FMC Co. (NYSE:FMC - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 45,335 shares of the basic materials company's stock, valued at approximately $2,989,000. FMC makes up 1.7% of Old North State Wealth Management LLC's portfolio, making the stock its 24th biggest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of FMC by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 15,290,219 shares of the basic materials company's stock worth $973,987,000 after purchasing an additional 768,432 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in FMC by 35.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 5,061,828 shares of the basic materials company's stock worth $322,439,000 after buying an additional 1,316,133 shares during the last quarter. AQR Capital Management LLC grew its holdings in FMC by 317.7% in the 2nd quarter. AQR Capital Management LLC now owns 1,099,389 shares of the basic materials company's stock valued at $63,160,000 after buying an additional 836,179 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of FMC by 11.6% in the 1st quarter. Russell Investments Group Ltd. now owns 903,274 shares of the basic materials company's stock worth $57,538,000 after acquiring an additional 93,892 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of FMC by 2.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 858,129 shares of the basic materials company's stock worth $49,385,000 after acquiring an additional 17,381 shares during the period. Hedge funds and other institutional investors own 91.86% of the company's stock.

FMC Stock Up 0.5 %

Shares of FMC stock traded up $0.30 during trading hours on Monday, reaching $63.45. 1,100,764 shares of the company were exchanged, compared to its average volume of 1,694,358. The firm has a market cap of $7.92 billion, a PE ratio of 5.46, a PEG ratio of 1.66 and a beta of 0.85. The stock's fifty day moving average is $63.21 and its 200 day moving average is $60.96. FMC Co. has a 1 year low of $49.49 and a 1 year high of $68.72. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.07 and a current ratio of 1.48.

FMC (NYSE:FMC - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The basic materials company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.20. FMC had a return on equity of 7.68% and a net margin of 34.93%. The business had revenue of $1.07 billion during the quarter, compared to analysts' expectations of $1.04 billion. During the same quarter last year, the business posted $0.44 EPS. The business's quarterly revenue was up 8.5% compared to the same quarter last year. As a group, equities research analysts forecast that FMC Co. will post 3.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. KeyCorp cut their price objective on shares of FMC from $81.00 to $79.00 and set an "overweight" rating for the company in a research report on Friday, August 2nd. Wells Fargo & Company lowered their price objective on FMC from $68.00 to $62.00 and set an "equal weight" rating for the company in a research report on Tuesday, July 16th. Redburn Atlantic upgraded FMC from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 19th. JPMorgan Chase & Co. increased their price target on FMC from $50.00 to $59.00 and gave the stock a "neutral" rating in a report on Monday, August 12th. Finally, BMO Capital Markets boosted their price objective on shares of FMC from $60.00 to $65.00 and gave the company a "market perform" rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $68.00.

About FMC

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.