Algert Global LLC Increases Stake in FMC Co. (NYSE:FMC)

Algert Global LLC lifted its holdings in shares of FMC Co. (NYSE:FMC) by 118.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 58,752 shares of the basic materials company’s stock after purchasing an additional 31,850 shares during the period. Algert Global LLC’s holdings in FMC were worth $3,874,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. AQR Capital Management LLC boosted its holdings in FMC by 317.7% during 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 acquiring an additional 836,179 shares during the period. Pzena Investment Management LLC bought a new stake in FMC in the second quarter valued at approximately $33,191,000. Swedbank AB purchased a new stake in shares of FMC during the first quarter valued at approximately $21,995,000. Van ECK Associates Corp grew its holdings in shares of FMC by 116.8% in the second quarter. Van ECK Associates Corp now owns 555,095 shares of the basic materials company’s stock worth $31,946,000 after purchasing an additional 299,097 shares during the last quarter. Finally, Mizuho Securities USA LLC increased its stake in shares of FMC by 2,531.3% in the third quarter. Mizuho Securities USA LLC now owns 253,179 shares of the basic materials company’s stock worth $16,695,000 after buying an additional 243,557 shares during the period. 91.86% of the stock is owned by institutional investors.

FMC Price Performance

Shares of FMC opened at $60.62 on Tuesday. FMC Co. has a fifty-two week low of $50.03 and a fifty-two week high of $68.72. The firm’s 50-day simple moving average is $61.69 and its two-hundred day simple moving average is $60.74. The stock has a market cap of $7.57 billion, a PE ratio of 5.22, a price-to-earnings-growth ratio of 1.55 and a beta of 0.85. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.09 and a current ratio of 1.48.

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 return on equity of 7.68% and a net margin of 34.93%. The business had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the previous year, the business earned $0.44 earnings per share. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. Analysts anticipate that FMC Co. will post 3.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In other FMC news, VP Jacqueline Scanlan sold 4,529 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $59.67, for a total transaction of $270,245.43. Following the sale, the vice president now directly owns 28,649 shares in the company, valued at approximately $1,709,485.83. This trade represents a 13.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.81% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

FMC has been the topic of a number of analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of FMC from $50.00 to $59.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. BMO Capital Markets upped their price target on FMC from $60.00 to $65.00 and gave the company a “market perform” rating in a research report on Friday, August 2nd. Barclays lifted their price objective on FMC from $62.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Monday, August 5th. Mizuho raised their price target on FMC from $64.00 to $70.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Finally, Royal Bank of Canada boosted their price objective on shares of FMC from $78.00 to $81.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, ten have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, FMC currently has an average rating of “Hold” and an average target price of $68.00.

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.