Pzena Investment Management LLC Reduces Stock Position in FMC Co. (NYSE:FMC)

Pzena Investment Management LLC trimmed its position in shares of FMC Co. (NYSE:FMC) by 0.3% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 575,294 shares of the basic materials company’s stock after selling 1,443 shares during the quarter. Pzena Investment Management LLC’s holdings in FMC were worth $37,935,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Ontario Teachers Pension Plan Board increased its position in shares of FMC by 22.2% during the third quarter. Ontario Teachers Pension Plan Board now owns 19,668 shares of the basic materials company’s stock valued at $1,297,000 after buying an additional 3,572 shares during the period. First Horizon Advisors Inc. grew its stake in shares of FMC by 90.8% in the 3rd quarter. First Horizon Advisors Inc. now owns 517 shares of the basic materials company’s stock worth $34,000 after buying an additional 246 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in shares of FMC by 27.8% during the third quarter. Advisors Asset Management Inc. now owns 43,483 shares of the basic materials company’s stock valued at $2,867,000 after acquiring an additional 9,449 shares in the last quarter. Commerce Bank raised its holdings in FMC by 3.7% in the third quarter. Commerce Bank now owns 5,135 shares of the basic materials company’s stock worth $339,000 after buying an additional 183 shares during the last quarter. Finally, Schwallier Wealth Management LLC purchased a new position in FMC in the 3rd quarter worth approximately $212,000. 91.86% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

FMC Trading Up 1.4 %

Shares of NYSE:FMC traded up $0.80 on Wednesday, hitting $56.41. 181,334 shares of the company’s stock were exchanged, compared to its average volume of 1,670,639. FMC Co. has a 12 month low of $50.03 and a 12 month high of $68.72. The stock has a market capitalization of $7.04 billion, a price-to-earnings ratio of 4.78, a price-to-earnings-growth ratio of 1.43 and a beta of 0.85. The business’s 50 day simple moving average is $61.99 and its two-hundred day simple moving average is $60.92. 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 issued its quarterly earnings data on Tuesday, October 29th. The basic materials company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.20. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.04 billion. FMC had a net margin of 34.93% and a return on equity of 7.68%. FMC’s revenue was up 8.5% compared to the same quarter last year. During the same period last year, the company posted $0.44 earnings per share. Analysts anticipate that FMC Co. will post 3.35 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FMC. Royal Bank of Canada raised their price target on shares of FMC from $78.00 to $81.00 and gave the company an “outperform” rating in a report on Friday, November 1st. KeyCorp decreased their target price on shares of FMC from $81.00 to $79.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Citigroup assumed coverage on FMC in a research note on Wednesday, October 23rd. They issued a “neutral” rating and a $67.00 price target on the stock. BMO Capital Markets boosted their price target on FMC from $60.00 to $65.00 and gave the company a “market perform” rating in a research note on Friday, August 2nd. Finally, Barclays increased their price objective on shares of FMC from $62.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $68.00.

FMC Company 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.