True Wealth Design LLC Takes $68,000 Position in FMC Co. (NYSE:FMC)

True Wealth Design LLC purchased a new stake in shares of FMC Co. (NYSE:FMC) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,036 shares of the basic materials company’s stock, valued at approximately $68,000.

Other institutional investors also recently bought and sold shares of the company. AQR Capital Management LLC grew 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 purchasing an additional 836,179 shares during the last quarter. Pzena Investment Management LLC purchased a new position in shares of FMC during the second quarter valued at approximately $33,191,000. Van ECK Associates Corp grew its stake in shares of FMC by 116.8% during the second quarter. Van ECK Associates Corp now owns 555,095 shares of the basic materials company’s stock valued at $31,946,000 after buying an additional 299,097 shares during the last quarter. Mizuho Securities USA LLC raised its holdings 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. Finally, Federated Hermes Inc. bought a new stake in shares of FMC during the 2nd quarter worth approximately $13,492,000. 91.86% of the stock is currently owned by institutional investors.

FMC Price Performance

FMC opened at $59.09 on Friday. The firm has a market capitalization of $7.38 billion, a PE ratio of 5.09, a price-to-earnings-growth ratio of 1.56 and a beta of 0.85. The business’s 50-day moving average is $61.38 and its two-hundred day moving average is $60.62. FMC Co. has a 1 year low of $50.03 and a 1 year high of $68.72. 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 (NYSE:FMC) last posted its quarterly earnings data on Tuesday, October 29th. The basic materials company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.49 by $0.20. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.04 billion. FMC had a net margin of 34.93% and a return on equity of 7.68%. FMC’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.44 EPS. Research analysts anticipate that FMC Co. will post 3.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP Jacqueline Scanlan sold 4,529 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 28,649 shares of the company’s stock, valued at $1,709,485.83. This represents a 13.65 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 0.85% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on FMC shares. Citigroup assumed coverage on FMC in a research note on Wednesday, October 23rd. They issued a “neutral” rating and a $67.00 target price on the stock. Barclays lifted their price objective on shares of FMC from $62.00 to $65.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. 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. Royal Bank of Canada raised their target price on shares of FMC from $78.00 to $81.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Mizuho boosted their price target on FMC from $64.00 to $70.00 and gave the company a “neutral” rating in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, ten have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $68.00.

FMC 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.