Kornitzer Capital Management Inc. KS Raises Stock Holdings in FMC Co. (NYSE:FMC)

Kornitzer Capital Management Inc. KS boosted its holdings in FMC Co. (NYSE:FMC) by 10.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,333 shares of the basic materials company’s stock after purchasing an additional 1,965 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in FMC were worth $1,407,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of FMC. Norden Group LLC purchased a new position in FMC in the first quarter valued at about $313,000. Nordea Investment Management AB lifted its position in shares of FMC by 6.7% during the 1st quarter. Nordea Investment Management AB now owns 12,412 shares of the basic materials company’s stock valued at $785,000 after buying an additional 777 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of FMC during the 1st quarter worth $217,000. Texas Permanent School Fund Corp increased its holdings in FMC by 4.6% in the 1st quarter. Texas Permanent School Fund Corp now owns 25,789 shares of the basic materials company’s stock worth $1,643,000 after acquiring an additional 1,128 shares during the last quarter. Finally, Empowered Funds LLC lifted its holdings in FMC by 26.7% during the first quarter. Empowered Funds LLC now owns 30,495 shares of the basic materials company’s stock valued at $1,943,000 after purchasing an additional 6,430 shares during the last quarter. Institutional investors own 91.86% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on FMC shares. JPMorgan Chase & Co. lifted their target price on shares of FMC from $50.00 to $59.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Redburn Atlantic upgraded FMC from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 19th. Mizuho raised their target price on FMC from $64.00 to $70.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. KeyCorp decreased their price target on FMC from $81.00 to $79.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Finally, Barclays raised their price objective on shares of FMC from $62.00 to $65.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $68.00.

FMC Stock Performance

NYSE:FMC opened at $59.69 on Friday. The company has a market capitalization of $7.45 billion, a price-to-earnings ratio of 5.14, a PEG ratio of 1.67 and a beta of 0.85. The business has a 50 day moving average of $62.87 and a 200 day moving average of $61.05. 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 Co. has a 1-year low of $49.49 and a 1-year high of $68.72.

FMC (NYSE:FMC) 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 analysts’ consensus estimates of $0.49 by $0.20. FMC had a net margin of 34.93% and a return on equity of 7.68%. The company had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the prior year, the company earned $0.44 EPS. The firm’s revenue was up 8.5% on a year-over-year basis. On average, sell-side analysts predict that FMC Co. will post 3.35 earnings per share for the current fiscal year.

FMC Company 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.