Gamco Investors INC. ET AL grew its holdings in FMC Corp (NYSE:FMC) by 119.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 66,161 shares of the basic materials company’s stock after purchasing an additional 36,061 shares during the period. Gamco Investors INC. ET AL’s holdings in FMC were worth $5,768,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. North Star Investment Management Corp. purchased a new stake in FMC in the second quarter worth $116,000. Thompson Davis & CO. Inc. increased its stake in FMC by 307.1% in the second quarter. Thompson Davis & CO. Inc. now owns 1,425 shares of the basic materials company’s stock worth $127,000 after purchasing an additional 1,075 shares during the period. Whittier Trust Co. of Nevada Inc. increased its stake in FMC by 221.1% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 1,525 shares of the basic materials company’s stock worth $136,000 after purchasing an additional 1,050 shares during the period. Piedmont Investment Advisors LLC purchased a new stake in FMC in the second quarter worth $139,000. Finally, Exane Derivatives purchased a new stake in FMC in the second quarter worth $141,000. Institutional investors and hedge funds own 89.77% of the company’s stock.
In related news, COO Mark Douglas acquired 4,250 shares of the company’s stock in a transaction that occurred on Tuesday, August 14th. The shares were bought at an average price of $86.13 per share, with a total value of $366,052.50. Following the completion of the transaction, the chief operating officer now directly owns 59,943 shares in the company, valued at $5,162,890.59. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dirk A. Kempthorne acquired 1,173 shares of the company’s stock in a transaction that occurred on Tuesday, August 28th. The shares were bought at an average cost of $86.12 per share, for a total transaction of $101,018.76. Following the transaction, the director now owns 35,783 shares of the company’s stock, valued at $3,081,631.96. The disclosure for this purchase can be found here. Company insiders own 1.20% of the company’s stock.
A number of analysts have weighed in on FMC shares. 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, November 5th. They issued a “buy” rating and a $92.00 target price on the stock. Credit Suisse Group started coverage on FMC in a research note on Monday, November 5th. They issued an “outperform” rating and a $103.00 target price on the stock. Finally, Loop Capital started coverage on FMC in a research note on Friday. They issued a “buy” rating and a $118.00 target price on the stock. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $101.42.
Shares of FMC stock opened at $83.57 on Friday. The firm has a market cap of $11.27 billion, a PE ratio of 14.68, a PEG ratio of 0.88 and a beta of 1.60. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.24 and a current ratio of 1.54. FMC Corp has a 12 month low of $72.73 and a 12 month high of $98.70.
FMC (NYSE:FMC) last announced its quarterly earnings results on Monday, November 5th. The basic materials company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.92 by $0.06. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.01 billion. FMC had a return on equity of 26.26% and a net margin of 22.28%. The business’s revenue for the quarter was up 60.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.70 earnings per share. Sell-side analysts predict that FMC Corp will post 6.03 earnings per share for the current year.
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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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