Polar Asset Management Partners Inc. bought a new position in shares of FMC Co. (NYSE:FMC - Free Report) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 60,600 shares of the basic materials company's stock, valued at approximately $3,996,000.
Other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its position in shares of FMC by 1.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,136,344 shares of the basic materials company's stock valued at $74,931,000 after acquiring an additional 20,350 shares during the period. AQR Capital Management LLC grew its stake in shares of 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 during the period. Bank of New York Mellon Corp grew its stake in shares of FMC by 2.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 858,129 shares of the basic materials company's stock valued at $49,385,000 after buying an additional 17,381 shares during the period. Dimensional Fund Advisors LP increased its position in FMC by 9.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 721,879 shares of the basic materials company's stock valued at $41,543,000 after buying an additional 64,055 shares in the last quarter. Finally, New South Capital Management Inc. grew its stake in FMC by 1.5% in the third quarter. New South Capital Management Inc. now owns 665,979 shares of the basic materials company's stock valued at $43,915,000 after acquiring an additional 9,834 shares during the period. Institutional investors own 91.86% of the company's stock.
FMC Stock Performance
Shares of NYSE FMC traded down $1.78 during trading on Thursday, reaching $57.23. 1,276,690 shares of the stock traded hands, compared to its average volume of 1,651,291. The company has a 50-day moving average of $61.10 and a 200-day moving average of $60.48. FMC Co. has a 52-week low of $50.03 and a 52-week high of $68.72. The stock has a market capitalization of $7.14 billion, a P/E ratio of 4.91, a price-to-earnings-growth ratio of 1.57 and a beta of 0.80. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.48 and a quick ratio of 1.09.
FMC (NYSE:FMC - Get Free Report) last posted its quarterly earnings results 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. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.04 billion. FMC had a net margin of 34.93% and a return on equity of 7.68%. The company's quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.44 earnings per share. Analysts forecast that FMC Co. will post 3.35 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of brokerages have commented on FMC. Mizuho boosted their price target on shares of FMC from $64.00 to $70.00 and gave the company a "neutral" rating in a research note on Friday, November 1st. Royal Bank of Canada upped their target price on shares of FMC from $78.00 to $81.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Citigroup assumed coverage on FMC in a research note on Wednesday, October 23rd. They issued a "neutral" rating and a $67.00 price objective for the company. Finally, JPMorgan Chase & Co. lifted their target price on FMC from $50.00 to $59.00 and gave the company a "neutral" rating in a research report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $68.00.
Get Our Latest Stock Report on FMC
Insider Activity
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 transaction of $270,245.43. Following the completion of the transaction, the vice president now directly owns 28,649 shares in the company, valued at $1,709,485.83. The trade was a 13.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.85% of the company's stock.
FMC Profile
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Free Report)
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.
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