FMC Co. (NYSE:FMC) Position Reduced by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company cut its position in shares of FMC Co. (NYSE:FMC) by 9.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 97,953 shares of the basic materials company’s stock after selling 10,616 shares during the quarter. The Manufacturers Life Insurance Company owned 0.08% of FMC worth $6,459,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of FMC. Daiwa Securities Group Inc. raised its holdings in shares of FMC by 14.7% in the 3rd quarter. Daiwa Securities Group Inc. now owns 5,758 shares of the basic materials company’s stock worth $380,000 after purchasing an additional 739 shares in the last quarter. Hartford Funds Management Co LLC lifted its position in shares of FMC by 14.8% during the 3rd quarter. Hartford Funds Management Co LLC now owns 6,659 shares of the basic materials company’s stock valued at $439,000 after acquiring an additional 859 shares during the last quarter. Algert Global LLC boosted its stake in shares of FMC by 118.4% during the 3rd quarter. Algert Global LLC now owns 58,752 shares of the basic materials company’s stock worth $3,874,000 after acquiring an additional 31,850 shares in the last quarter. Kingsview Wealth Management LLC grew its holdings in shares of FMC by 80.1% in the 3rd quarter. Kingsview Wealth Management LLC now owns 6,382 shares of the basic materials company’s stock worth $421,000 after acquiring an additional 2,839 shares during the last quarter. Finally, Cerity Partners LLC grew its holdings in shares of FMC by 105.7% in the 3rd quarter. Cerity Partners LLC now owns 48,888 shares of the basic materials company’s stock worth $3,224,000 after acquiring an additional 25,122 shares during the last quarter. Institutional investors own 91.86% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. JPMorgan Chase & Co. raised their target price on shares of FMC from $50.00 to $59.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Royal Bank of Canada raised their price objective on shares of FMC from $78.00 to $81.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Citigroup assumed coverage on shares of FMC in a research note on Wednesday, October 23rd. They set a “neutral” rating and a $67.00 target price on the stock. Finally, Mizuho raised their target price on FMC from $64.00 to $70.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. One equities research 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 stock. Based on data from MarketBeat, FMC currently has a consensus rating of “Hold” and an average target price of $68.00.

Insider Activity at FMC

In other news, VP Jacqueline Scanlan sold 4,529 shares of the stock in a transaction 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 sale, the vice president now owns 28,649 shares in the company, valued at approximately $1,709,485.83. This represents a 13.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.85% of the stock is owned by insiders.

FMC Stock Performance

Shares of FMC opened at $57.23 on Friday. The company has a market capitalization of $7.14 billion, a PE ratio of 4.91, a price-to-earnings-growth ratio of 1.57 and a beta of 0.80. 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 Co. has a one year low of $50.03 and a one year high of $68.72. The company’s fifty day moving average price is $61.10 and its 200 day moving average price is $60.48.

FMC (NYSE:FMC) last released its earnings results on Tuesday, October 29th. The basic materials company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.49 by $0.20. FMC had a net margin of 34.93% and a return on equity of 7.68%. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the prior year, the company earned $0.44 EPS. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. As a group, analysts expect that FMC Co. will post 3.35 earnings per share for the current year.

FMC Company 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.