Tributary Capital Management LLC reduced its stake in shares of FMC Corp (NYSE:FMC) by 21.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 23,700 shares of the basic materials company’s stock after selling 6,400 shares during the quarter. Tributary Capital Management LLC’s holdings in FMC were worth $2,066,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in the stock. BlackRock Inc. raised its stake in FMC by 1.6% during the 2nd quarter. BlackRock Inc. now owns 9,035,632 shares of the basic materials company’s stock worth $806,069,000 after acquiring an additional 143,241 shares in the last quarter. Boston Partners raised its stake in FMC by 29.2% during the 2nd quarter. Boston Partners now owns 4,220,507 shares of the basic materials company’s stock worth $376,511,000 after acquiring an additional 953,377 shares in the last quarter. King Luther Capital Management Corp raised its stake in FMC by 2.9% during the 2nd quarter. King Luther Capital Management Corp now owns 2,483,582 shares of the basic materials company’s stock worth $221,560,000 after acquiring an additional 69,370 shares in the last quarter. Northern Trust Corp raised its stake in FMC by 7.0% during the 2nd quarter. Northern Trust Corp now owns 2,427,168 shares of the basic materials company’s stock worth $216,528,000 after acquiring an additional 158,579 shares in the last quarter. Finally, Frontier Capital Management Co. LLC raised its stake in FMC by 34.3% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 2,153,223 shares of the basic materials company’s stock worth $192,089,000 after acquiring an additional 549,475 shares in the last quarter. Hedge funds and other institutional investors own 89.58% of the company’s stock.
A number of research firms have commented on FMC. Zacks Investment Research lowered shares of FMC from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 4th. Nomura lifted their price objective on shares of FMC from $100.00 to $106.00 and gave the company a “buy” rating in a research note on Wednesday, July 11th. Finally, ValuEngine lowered shares of FMC from a “hold” rating to a “sell” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $102.69.
FMC (NYSE:FMC) last posted its quarterly earnings data on Wednesday, August 1st. The basic materials company reported $1.78 EPS for the quarter, beating analysts’ consensus estimates of $1.72 by $0.06. The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.24 billion. FMC had a net margin of 23.96% and a return on equity of 27.12%. FMC’s quarterly revenue was up 92.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.48 earnings per share. Equities analysts anticipate that FMC Corp will post 6.06 earnings per share for the current year.
In other news, COO Mark Douglas bought 4,250 shares of the stock in a transaction dated Tuesday, August 14th. The shares were acquired at an average price of $86.13 per share, with a total value of $366,052.50. Following the completion of the acquisition, 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 filing 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 directly owns 8,604 shares in the company, valued at approximately $767,046.60. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.
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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