FMC Corp (FMC) Shares Sold by Victory Capital Management Inc.
Victory Capital Management Inc. trimmed its holdings in FMC Corp (NYSE:FMC) by 5.8% during the third quarter, Holdings Channel reports. The institutional investor owned 492,335 shares of the basic materials company’s stock after selling 30,346 shares during the period. Victory Capital Management Inc.’s holdings in FMC were worth $42,922,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of FMC. North Star Investment Management Corp. acquired a new stake in FMC in the 2nd quarter worth about $116,000. Thompson Davis & CO. Inc. boosted its stake in FMC by 307.1% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 1,425 shares of the basic materials company’s stock worth $127,000 after buying an additional 1,075 shares during the last quarter. Whittier Trust Co. of Nevada Inc. boosted its stake in FMC by 221.1% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 1,525 shares of the basic materials company’s stock worth $136,000 after buying an additional 1,050 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new stake in FMC in the 2nd quarter worth about $139,000. Finally, Exane Derivatives purchased a new position in shares of FMC in the 2nd quarter worth about $141,000. 89.77% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have recently commented on FMC. Zacks Investment Research downgraded FMC from a “buy” rating to a “hold” rating in a report on Thursday, July 19th. ValuEngine downgraded FMC from a “hold” rating to a “sell” rating in a report on Wednesday, October 17th. Loop Capital began coverage on FMC in a report on Friday. They issued a “buy” rating and a $118.00 price objective on the stock. Credit Suisse Group began coverage on FMC in a report on Monday, November 5th. They issued an “outperform” rating and a $103.00 price objective on the stock. Finally, Citigroup began coverage on FMC in a report on Monday, November 5th. They issued a “buy” rating and a $92.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $101.42.
FMC (NYSE:FMC) last released its quarterly earnings data on Monday, November 5th. The basic materials company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.92 by $0.06. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.01 billion. FMC had a return on equity of 26.26% and a net margin of 22.28%. The company’s quarterly revenue was up 60.4% compared to the same quarter last year. During the same period last year, the business posted $0.70 EPS. On average, equities analysts forecast that FMC Corp will post 6.03 earnings per share for the current fiscal year.
In related news, Director Dirk A. Kempthorne bought 1,173 shares of the company’s stock in a transaction that occurred on Tuesday, August 28th. The shares were acquired at an average cost of $86.12 per share, for a total transaction of $101,018.76. Following the acquisition, the director now owns 35,783 shares in the company, valued at approximately $3,081,631.96. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Mark Douglas bought 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, for a total transaction of $366,052.50. Following the completion of the acquisition, the chief operating officer now owns 59,943 shares in the company, valued at approximately $5,162,890.59. The disclosure for this purchase can be found here. Company insiders own 1.20% 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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