Aigen Investment Management LP Purchases New Shares in FMC Co. (NYSE:FMC)

Aigen Investment Management LP purchased a new stake in shares of FMC Co. (NYSE:FMC) in the third quarter, Holdings Channel.com reports. The fund purchased 5,303 shares of the basic materials company’s stock, valued at approximately $350,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FMC. Price T Rowe Associates Inc. MD boosted its position in FMC by 35.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,061,828 shares of the basic materials company’s stock valued at $322,439,000 after buying an additional 1,316,133 shares during the last quarter. AQR Capital Management LLC boosted its position in FMC by 317.7% in the 2nd quarter. AQR Capital Management LLC now owns 1,099,389 shares of the basic materials company’s stock valued at $63,160,000 after buying an additional 836,179 shares during the last quarter. Vanguard Group Inc. boosted its position in FMC by 5.3% in the 1st quarter. Vanguard Group Inc. now owns 15,290,219 shares of the basic materials company’s stock valued at $973,987,000 after buying an additional 768,432 shares during the last quarter. Maple Rock Capital Partners Inc. bought a new position in FMC in the 1st quarter valued at $37,686,000. Finally, Pzena Investment Management LLC bought a new position in FMC in the 2nd quarter valued at $33,191,000. 91.86% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Jacqueline Scanlan sold 4,529 shares of FMC stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $59.67, for a total transaction of $270,245.43. Following the completion of the transaction, the vice president now owns 28,649 shares in the company, valued at approximately $1,709,485.83. This trade represents a 13.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.85% of the stock is currently owned by corporate insiders.

FMC Stock Performance

FMC opened at $54.39 on Friday. The business’s 50-day moving average price is $62.22 and its two-hundred day moving average price is $60.96. FMC Co. has a 1 year low of $50.03 and a 1 year high of $68.72. The company has a market capitalization of $6.79 billion, a price-to-earnings ratio of 4.68, a P/E/G ratio of 1.47 and a beta of 0.85. 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 (NYSE:FMC) last released its earnings results on Tuesday, October 29th. The basic materials company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.20. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.04 billion. FMC had a return on equity of 7.68% and a net margin of 34.93%. FMC’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.44 earnings per share. Equities analysts expect that FMC Co. will post 3.35 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have commented on FMC. Citigroup began coverage on FMC in a research report on Wednesday, October 23rd. They issued a “neutral” rating and a $67.00 price objective on the stock. BMO Capital Markets raised their price target on FMC from $60.00 to $65.00 and gave the stock a “market perform” rating in a research report on Friday, August 2nd. Redburn Atlantic upgraded FMC from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 19th. Mizuho raised their price target on FMC from $64.00 to $70.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Finally, Royal Bank of Canada raised their price target on FMC from $78.00 to $81.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, FMC currently has an average rating of “Hold” and an average target price of $68.00.

FMC 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.