Swedbank AB Sells 20,601 Shares of FMC Co. (NYSE:FMC)

Swedbank AB trimmed its stake in FMC Co. (NYSE:FMC) by 22.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 69,500 shares of the basic materials company’s stock after selling 20,601 shares during the quarter. Swedbank AB owned approximately 0.06% of FMC worth $4,583,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. First Horizon Advisors Inc. lifted its position in shares of FMC by 90.8% in the third quarter. First Horizon Advisors Inc. now owns 517 shares of the basic materials company’s stock valued at $34,000 after buying an additional 246 shares during the last quarter. Mather Group LLC. lifted its position in shares of FMC by 250.6% in the third quarter. Mather Group LLC. now owns 554 shares of the basic materials company’s stock valued at $37,000 after buying an additional 396 shares during the last quarter. LRI Investments LLC acquired a new stake in shares of FMC in the first quarter valued at approximately $39,000. UMB Bank n.a. lifted its position in shares of FMC by 56.9% in the second quarter. UMB Bank n.a. now owns 678 shares of the basic materials company’s stock valued at $39,000 after buying an additional 246 shares during the last quarter. Finally, Peterson Financial Group Inc. acquired a new stake in shares of FMC in the third quarter valued at approximately $51,000. 91.86% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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 value of $270,245.43. Following the completion of the transaction, the vice president now directly owns 28,649 shares in the company, valued at approximately $1,709,485.83. This represents a 13.65 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.81% of the company’s stock.

FMC Price Performance

Shares of FMC stock opened at $59.52 on Thursday. The business has a fifty day simple moving average of $61.62 and a 200 day simple moving average of $60.69. The company has a market cap of $7.43 billion, a P/E ratio of 5.12, a P/E/G ratio of 1.60 and a beta of 0.85. The company has a quick ratio of 1.09, a current ratio of 1.48 and a debt-to-equity ratio of 0.65. FMC Co. has a twelve month low of $50.03 and a twelve month high of $68.72.

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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FMC. BMO Capital Markets raised their price objective on FMC from $60.00 to $65.00 and gave the company a “market perform” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. lifted their price target on FMC from $50.00 to $59.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Mizuho lifted their price target on FMC from $64.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Royal Bank of Canada lifted their price target on FMC from $78.00 to $81.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, KeyCorp dropped their price target on FMC from $81.00 to $79.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $68.00.

About FMC

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.