Credit Suisse Group Initiates Coverage on FMC (FMC)

Credit Suisse Group initiated coverage on shares of FMC (NYSE:FMC) in a note issued to investors on Monday. The firm set an “outperform” rating on the basic materials company’s stock.

FMC has been the topic of several other research reports. Zacks Investment Research lowered FMC from a “buy” rating to a “hold” rating in a research note on Thursday, July 19th. ValuEngine lowered FMC from a “hold” rating to a “sell” rating in a research note on Wednesday, October 17th. Citigroup started coverage on FMC in a research note on Monday. They issued a “buy” rating and a $92.00 price target on the stock. Finally, Nomura boosted their price target on FMC from $100.00 to $106.00 and gave the company a “buy” rating in a research note on Wednesday, July 11th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $102.46.

FMC stock traded up $0.09 during trading on Monday, hitting $80.55. The company had a trading volume of 595,805 shares, compared to its average volume of 1,235,521. The company has a debt-to-equity ratio of 0.96, a current ratio of 1.63 and a quick ratio of 1.24. The firm has a market cap of $10.83 billion, a price-to-earnings ratio of 29.72, a P/E/G ratio of 0.72 and a beta of 1.60. FMC has a fifty-two week low of $72.73 and a fifty-two week high of $98.70.

In other FMC news, insider Nicholas Pfeiffer sold 375 shares of the business’s stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $89.15, for a total value of $33,431.25. Following the transaction, the insider now owns 8,604 shares of the company’s stock, valued at $767,046.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Mark Douglas acquired 4,250 shares of FMC stock in a transaction on Tuesday, August 14th. The stock was acquired at an average cost of $86.13 per share, for a total transaction of $366,052.50. Following the purchase, the chief operating officer now owns 59,943 shares of the company’s stock, valued at approximately $5,162,890.59. The disclosure for this purchase can be found here. 1.20% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of FMC. Boston Partners boosted its stake in FMC by 29.2% in the second quarter. Boston Partners now owns 4,220,507 shares of the basic materials company’s stock worth $376,511,000 after purchasing an additional 953,377 shares in the last quarter. Frontier Capital Management Co. LLC boosted its stake in FMC by 34.3% in the second quarter. Frontier Capital Management Co. LLC now owns 2,153,223 shares of the basic materials company’s stock worth $192,089,000 after purchasing an additional 549,475 shares in the last quarter. Green Valley Investors LLC acquired a new position in FMC in the second quarter worth $32,693,000. Millennium Management LLC boosted its stake in FMC by 124.3% in the second quarter. Millennium Management LLC now owns 630,703 shares of the basic materials company’s stock worth $56,265,000 after purchasing an additional 349,495 shares in the last quarter. Finally, Segall Bryant & Hamill LLC boosted its stake in FMC by 157.8% in the second quarter. Segall Bryant & Hamill LLC now owns 563,546 shares of the basic materials company’s stock worth $50,274,000 after purchasing an additional 344,986 shares in the last quarter. 89.77% of the stock is currently owned by institutional investors.

About FMC

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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