Squarepoint Ops LLC bought a new position in shares of FMC Corp (NYSE:FMC) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 86,643 shares of the basic materials company’s stock, valued at approximately $7,597,000. Squarepoint Ops LLC owned approximately 0.07% of FMC as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in FMC. Bank of New York Mellon Corp raised its holdings 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 acquiring an additional 1,141,810 shares in the last quarter. Boston Partners boosted its stake in FMC by 22.5% during the third quarter. Boston Partners now owns 6,171,044 shares of the basic materials company’s stock worth $541,373,000 after buying an additional 1,134,187 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in FMC by 165.8% during the second quarter. UBS Asset Management Americas Inc. now owns 1,216,932 shares of the basic materials company’s stock worth $100,945,000 after buying an additional 759,055 shares in the last quarter. Amundi Pioneer Asset Management Inc. increased its holdings 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 during the period. Finally, Renaissance Technologies LLC bought a new stake in FMC in the 2nd quarter valued at $34,499,000. 87.98% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have recently issued reports on FMC. BNP Paribas assumed coverage on shares of FMC in a research note on Wednesday, September 18th. They issued a “buy” rating and a $110.00 price objective for the company. Royal Bank of Canada upgraded shares of FMC from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $87.00 to $103.00 in a research report on Friday, August 9th. Zacks Investment Research downgraded FMC from a “hold” rating to a “sell” rating and set a $87.00 target price for the company. in a research report on Wednesday, October 16th. Robert W. Baird raised FMC from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $86.00 to $95.00 in a report on Wednesday, October 16th. Finally, Buckingham Research boosted their target price on shares of FMC from $100.00 to $105.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. One 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 an average rating of “Buy” and a consensus price target of $99.00.
Shares of FMC opened at $97.86 on Tuesday. The firm has a 50 day simple moving average of $92.30 and a two-hundred day simple moving average of $85.36. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.62 and a quick ratio of 1.15. FMC Corp has a one year low of $69.36 and a one year high of $99.34. The company has a market cap of $12.70 billion, a P/E ratio of 15.56, a P/E/G ratio of 1.62 and a beta of 1.50.
FMC (NYSE:FMC) last issued its earnings results on Tuesday, October 29th. The basic materials company reported $0.94 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.80 by $0.14. FMC had a return on equity of 27.94% and a net margin of 11.08%. The firm had revenue of $1,000.00 million for the quarter, compared to the consensus estimate of $978.47 million. During the same quarter last year, the business posted $0.98 EPS. The company’s revenue was down 3.5% compared to the same quarter last year. On average, analysts expect that FMC Corp will post 5.86 earnings per share for the current fiscal year.
In other FMC news, insider Nicholas Pfeiffer sold 9,218 shares of FMC stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $90.88, for a total value of $837,731.84. Following the transaction, the insider now owns 17,706 shares in the company, valued at $1,609,121.28. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Pierre R. Brondeau sold 24,738 shares of FMC stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $96.88, for a total value of $2,396,617.44. Insiders have sold a total of 56,346 shares of company stock valued at $5,245,643 in the last three months. 1.50% of the stock is owned by insiders.
FMC Company 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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