WealthPLAN Partners LLC Decreases Stake in FMC Co. (NYSE:FMC)

WealthPLAN Partners LLC decreased its position in FMC Co. (NYSE:FMC) by 11.6% during the 3rd quarter, Holdings Channel reports. The firm owned 27,322 shares of the basic materials company’s stock after selling 3,582 shares during the period. WealthPLAN Partners LLC’s holdings in FMC were worth $1,802,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. WCM Investment Management LLC increased its position in shares of FMC by 31.2% in the third quarter. WCM Investment Management LLC now owns 15,852 shares of the basic materials company’s stock valued at $1,048,000 after acquiring an additional 3,772 shares during the period. Versor Investments LP grew its stake in shares of FMC by 13.5% in the third quarter. Versor Investments LP now owns 7,100 shares of the basic materials company’s stock worth $468,000 after purchasing an additional 846 shares during the last quarter. tru Independence LLC bought a new position in FMC during the 3rd quarter valued at approximately $5,323,000. Chartwell Investment Partners LLC lifted its holdings in FMC by 0.9% in the 3rd quarter. Chartwell Investment Partners LLC now owns 74,515 shares of the basic materials company’s stock worth $4,913,000 after buying an additional 649 shares during the period. Finally, State of New Jersey Common Pension Fund D grew its position in shares of FMC by 0.9% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 45,597 shares of the basic materials company’s stock worth $3,007,000 after buying an additional 423 shares during the last quarter. 91.86% of the stock is owned by hedge funds and other institutional investors.

FMC Price Performance

NYSE FMC opened at $59.09 on Tuesday. The company has a quick ratio of 1.09, a current ratio of 1.48 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $7.38 billion, a P/E ratio of 5.09, a PEG ratio of 1.57 and a beta of 0.85. The company has a 50-day moving average price of $62.76 and a 200-day moving average price of $61.09. FMC Co. has a 52 week low of $50.03 and a 52 week high of $68.72.

FMC (NYSE:FMC) last issued its quarterly earnings results on Tuesday, October 29th. The basic materials company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.20. The business had revenue of $1.07 billion for 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 company’s revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.44 EPS. Equities research analysts anticipate that FMC Co. will post 3.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Mizuho raised their price target on FMC from $64.00 to $70.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. raised their price objective on shares of FMC from $50.00 to $59.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Redburn Atlantic upgraded FMC from a “hold” rating to a “strong-buy” rating in a report on Friday, July 19th. Barclays increased their price objective on FMC from $62.00 to $65.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Finally, Citigroup started coverage on FMC in a research note on Wednesday, October 23rd. They set a “neutral” rating and a $67.00 price objective for the company. One analyst has rated the stock with a sell rating, ten have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average 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.