State of Alaska Department of Revenue trimmed its stake in shares of FMC Corporation (NYSE:FMC – Free Report) by 87.4% during the third quarter, Holdings Channel reports. The institutional investor owned 21,038 shares of the basic materials company’s stock after selling 145,639 shares during the period. State of Alaska Department of Revenue’s holdings in FMC were worth $187,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Bank of New York Mellon Corp acquired a new stake in shares of FMC in the 2nd quarter worth approximately $8,498,000. AXQ Capital LP increased its stake in shares of FMC by 109.9% during the second quarter. AXQ Capital LP now owns 366,661 shares of the basic materials company’s stock valued at $4,217,000 after acquiring an additional 191,945 shares during the period. SG Americas Securities LLC increased its stake in shares of FMC by 6.7% during the first quarter. SG Americas Securities LLC now owns 213,656 shares of the basic materials company’s stock valued at $3,679,000 after acquiring an additional 13,330 shares during the period. Wellington Management Group LLP increased its stake in shares of FMC by 142.4% during the second quarter. Wellington Management Group LLP now owns 235,089 shares of the basic materials company’s stock valued at $2,704,000 after acquiring an additional 138,098 shares during the period. Finally, Entropy Technologies LP bought a new stake in FMC during the first quarter worth approximately $1,401,000. 91.86% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have weighed in on FMC shares. Jefferies Financial Group downgraded FMC from a “buy” rating to a “hold” rating and cut their target price for the stock from $14.00 to $5.00 in a research report on Friday, October 16th. Citigroup lowered their price target on FMC from $12.00 to $6.00 and set a “neutral” rating on the stock in a research report on Monday, October 19th. Zacks Research cut FMC from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 1st. KeyCorp started coverage on FMC in a research note on Friday, September 11th. They issued an “overweight” rating and a $16.00 price objective on the stock. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $18.00 price objective on shares of FMC in a report on Friday, July 31st. Three investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and five have given a Sell rating to the company’s stock. According to data from MarketBeat.com, FMC presently has an average rating of “Reduce” and an average target price of $11.25.
Check Out Our Latest Analysis on FMC
FMC Stock Performance
NYSE:FMC opened at $4.70 on Wednesday. FMC Corporation has a twelve month low of $4.56 and a twelve month high of $30.68. The company has a 50-day moving average of $9.45 and a 200-day moving average of $12.61.
FMC (NYSE:FMC – Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.04. The business had revenue of $841.40 million during the quarter, compared to analyst estimates of $895.14 million. During the same period in the prior year, the firm earned $0.69 EPS. The business’s revenue for the quarter was down 17.5% on a year-over-year basis. Analysts forecast that FMC Corporation will post 0.99 earnings per share for the current year.
FMC Profile
FMC Corporation (NYSE: FMC) is an agricultural sciences company that develops and markets crop protection products and technologies. Its portfolio is designed to help farmers manage weeds, insects and diseases that can affect crop yields and quality.
The company’s products include herbicides, insecticides, fungicides, biological crop protection products and seed treatment solutions. FMC also develops crop health technologies and digital tools intended to support more precise and efficient agricultural applications.
FMC serves farmers, agricultural retailers and distributors in major farming regions around the world, with products used across a broad range of crops.
Read More
- Five stocks we like better than FMC
- Coca-Cola Stock Is Everything AI Isn’t—And That’s Its Biggest Strength
- Apple’s Foldable iPhone Sold Out in Minutes, But Wall Street Has Questions
- Netflix Is Making Big Changes, But Can It Fix What’s Really Hurting Growth?
- Charging Ahead: Solid Power’s Pilot Line Leaves the Lab
Want to see what other hedge funds are holding FMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FMC Corporation (NYSE:FMC – Free Report).
Receive News & Ratings for FMC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FMC and related companies with MarketBeat.com's FREE daily email newsletter.
