StockNews.com lowered shares of FMC (NYSE:FMC – Free Report) from a hold rating to a sell rating in a research note issued to investors on Tuesday.
Other equities research analysts also recently issued reports about the company. Bank of America reissued a neutral rating and issued a $63.00 target price on shares of FMC in a report on Tuesday. Morgan Stanley reissued an equal weight rating and issued a $70.00 target price (down from $100.00) on shares of FMC in a report on Tuesday. BMO Capital Markets dropped their target price on FMC from $90.00 to $80.00 and set an outperform rating on the stock in a report on Tuesday. Redburn Atlantic reissued a neutral rating and issued a $71.00 target price on shares of FMC in a report on Monday, September 25th. Finally, Mizuho lowered their price target on FMC from $122.00 to $98.00 and set a buy rating on the stock in a report on Tuesday, October 10th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $92.50.
Read Our Latest Stock Analysis on FMC
FMC Trading Down 3.5 %
FMC (NYSE:FMC – Get Free Report) last released its earnings results on Wednesday, August 2nd. The basic materials company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.09). FMC had a return on equity of 21.97% and a net margin of 11.60%. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same period last year, the firm posted $1.93 earnings per share. The company’s revenue was down 30.1% compared to the same quarter last year. Equities research analysts predict that FMC will post 5.87 earnings per share for the current fiscal year.
Insider Activity at FMC
In other news, EVP Ronaldo Pereira acquired 2,000 shares of FMC stock in a transaction that occurred on Wednesday, September 13th. The stock was bought at an average price of $75.59 per share, for a total transaction of $151,180.00. Following the completion of the transaction, the executive vice president now owns 21,478 shares in the company, valued at $1,623,522.02. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Nicholas Pfeiffer acquired 992 shares of FMC stock in a transaction that occurred on Wednesday, September 13th. The stock was bought at an average price of $75.62 per share, for a total transaction of $75,015.04. Following the completion of the transaction, the insider now owns 13,056 shares in the company, valued at $987,294.72. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ronaldo Pereira purchased 2,000 shares of FMC stock in a transaction on Wednesday, September 13th. The stock was bought at an average price of $75.59 per share, with a total value of $151,180.00. Following the transaction, the executive vice president now owns 21,478 shares of the company’s stock, valued at $1,623,522.02. The disclosure for this purchase can be found here. 0.85% of the stock is owned by company insiders.
Institutional Trading of FMC
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. New South Capital Management Inc. increased its position in FMC by 8.3% in the third quarter. New South Capital Management Inc. now owns 591,722 shares of the basic materials company’s stock worth $39,628,000 after buying an additional 45,595 shares in the last quarter. Weybosset Research & Management LLC increased its position in FMC by 2.2% in the third quarter. Weybosset Research & Management LLC now owns 94,487 shares of the basic materials company’s stock worth $6,328,000 after buying an additional 2,014 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in FMC by 57.8% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 21,205 shares of the basic materials company’s stock worth $1,420,000 after buying an additional 7,769 shares in the last quarter. Xponance Inc. increased its position in FMC by 10.6% in the third quarter. Xponance Inc. now owns 20,053 shares of the basic materials company’s stock worth $1,343,000 after buying an additional 1,926 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC purchased a new stake in FMC in the third quarter worth about $347,000. Hedge funds and other institutional investors own 86.91% of the company’s stock.
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 include 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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