Brinker Capital Inc. boosted its holdings in FMC Corp (NYSE:FMC) by 9.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,422 shares of the basic materials company’s stock after buying an additional 2,466 shares during the period. Brinker Capital Inc.’s holdings in FMC were worth $2,407,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also added to or reduced their stakes in FMC. Bank of New York Mellon Corp grew its stake in FMC by 87.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,450,192 shares of the basic materials company’s stock valued at $203,243,000 after buying an additional 1,141,810 shares in the last quarter. UBS Asset Management Americas Inc. grew its stake in FMC by 165.8% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 1,216,932 shares of the basic materials company’s stock valued at $100,945,000 after buying an additional 759,055 shares in the last quarter. Amundi Pioneer Asset Management Inc. grew its stake in FMC by 373.3% in the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 543,680 shares of the basic materials company’s stock valued at $322,858,000 after buying an additional 428,806 shares in the last quarter. Renaissance Technologies LLC purchased a new position in FMC in the 2nd quarter valued at approximately $34,499,000. Finally, Nuveen Asset Management LLC purchased a new position in FMC in the 2nd quarter valued at approximately $27,314,000. Institutional investors and hedge funds own 89.26% of the company’s stock.
In other news, insider Nicholas Pfeiffer sold 9,218 shares of FMC stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $90.88, for a total transaction of $837,731.84. Following the completion of the sale, the insider now directly owns 17,706 shares of the company’s stock, valued at approximately $1,609,121.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Pierre R. Brondeau sold 196,466 shares of FMC stock in a transaction on Friday, August 9th. The stock was sold at an average price of $88.90, for a total transaction of $17,465,827.40. Following the sale, the chief executive officer now directly owns 368,778 shares of the company’s stock, valued at $32,784,364.20. The disclosure for this sale can be found here. Insiders have sold a total of 228,074 shares of company stock valued at $20,314,853 over the last ninety days. 1.50% of the stock is currently owned by insiders.
FMC (NYSE:FMC) last posted its quarterly earnings data on Tuesday, July 30th. The basic materials company reported $1.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.03. FMC had a net margin of 10.65% and a return on equity of 27.33%. The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the previous year, the firm posted $1.78 EPS. The firm’s revenue was up 4.5% compared to the same quarter last year. Equities research analysts expect that FMC Corp will post 5.8 EPS for the current fiscal year.
FMC has been the subject of several analyst reports. SunTrust Banks raised their price target on shares of FMC to $98.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Goldman Sachs Group downgraded shares of FMC from a “buy” rating to a “neutral” rating in a report on Friday, August 2nd. Zacks Investment Research downgraded shares of FMC from a “hold” rating to a “sell” rating and set a $87.00 price target for the company. in a report on Wednesday, October 16th. Nomura raised their price target on shares of FMC from $93.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, BMO Capital Markets set a $100.00 price target on shares of FMC and gave the company a “buy” rating in a report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have given a buy rating to the company. FMC has a consensus rating of “Buy” and an average target price of $98.47.
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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