FMC (NYSE:FMC) issued its earnings results on Monday. The basic materials company reported $0.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.06, RTT News reports. FMC had a net margin of 23.96% and a return on equity of 27.12%. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter last year, the company posted $0.70 earnings per share. The firm’s revenue was up 60.4% compared to the same quarter last year. FMC updated its Q4 2018 guidance to $1.33-1.43 EPS and its Q4 guidance to $1.40-1.50 EPS.
Shares of NYSE FMC opened at $83.63 on Wednesday. FMC has a 52-week low of $72.73 and a 52-week high of $98.70. The stock has a market capitalization of $10.83 billion, a PE ratio of 30.86, a P/E/G ratio of 0.72 and a beta of 1.60. The company has a current ratio of 1.63, a quick ratio of 1.24 and a debt-to-equity ratio of 0.96.
FMC has been the subject of a number of recent analyst reports. Nomura lifted their price objective on shares of FMC from $100.00 to $106.00 and gave the company a “buy” rating in a report on Wednesday, July 11th. Zacks Investment Research cut shares of FMC from a “buy” rating to a “hold” rating in a report on Thursday, July 19th. ValuEngine cut shares of FMC from a “hold” rating to a “sell” rating in a report on Wednesday, October 17th. Citigroup initiated coverage on shares of FMC in a report on Monday. They issued a “buy” rating and a $92.00 price objective for the company. Finally, Credit Suisse Group initiated coverage on shares of FMC in a report on Monday. They issued an “outperform” rating and a $103.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. FMC has an average rating of “Buy” and a consensus price target of $102.15.
In related news, Director Dirk A. Kempthorne bought 1,173 shares of the company’s stock in a transaction dated Tuesday, August 28th. The shares were acquired at an average price of $86.12 per share, for a total transaction of $101,018.76. Following the completion of the transaction, the director now directly owns 35,783 shares in the company, valued at $3,081,631.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Nicholas Pfeiffer sold 375 shares of FMC stock in a transaction dated Thursday, August 9th. The shares were sold at an average price of $89.15, for a total transaction of $33,431.25. Following the completion of the sale, the insider now owns 8,604 shares in the company, valued at approximately $767,046.60. The disclosure for this sale can be found here. 1.20% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in FMC. Boston Partners grew its position in shares of FMC by 29.2% in the second quarter. Boston Partners now owns 4,220,507 shares of the basic materials company’s stock valued at $376,511,000 after purchasing an additional 953,377 shares during the period. Frontier Capital Management Co. LLC grew its position in shares of 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 valued at $192,089,000 after purchasing an additional 549,475 shares during the period. Green Valley Investors LLC acquired a new stake in shares of FMC in the second quarter valued at about $32,693,000. Millennium Management LLC grew its position in shares of FMC by 124.3% in the second quarter. Millennium Management LLC now owns 630,703 shares of the basic materials company’s stock valued at $56,265,000 after purchasing an additional 349,495 shares during the period. Finally, Segall Bryant & Hamill LLC boosted its position in FMC by 157.8% during the second quarter. Segall Bryant & Hamill LLC now owns 563,546 shares of the basic materials company’s stock worth $50,274,000 after acquiring an additional 344,986 shares during the last quarter. Institutional investors and hedge funds own 89.77% of the company’s stock.
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FMC Company Profile
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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