Cornerstone Wealth Management LLC trimmed its position in shares of FMC Corp (NYSE:FMC) by 45.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 20,011 shares of the basic materials company’s stock after selling 16,506 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in FMC were worth $220,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in FMC. Boston Partners grew its position in FMC by 29.2% during the 2nd quarter. Boston Partners now owns 4,220,507 shares of the basic materials company’s stock valued at $376,511,000 after purchasing an additional 953,377 shares during the last quarter. Frontier Capital Management Co. LLC grew its position in FMC by 34.3% during the 2nd quarter. Frontier Capital Management Co. LLC now owns 2,153,223 shares of the basic materials company’s stock valued at $192,089,000 after purchasing an additional 549,475 shares during the last quarter. Green Valley Investors LLC purchased a new stake in FMC during the 2nd quarter valued at about $32,693,000. Millennium Management LLC grew its position in FMC by 124.3% during the 2nd quarter. Millennium Management LLC now owns 630,703 shares of the basic materials company’s stock valued at $56,265,000 after purchasing an additional 349,495 shares during the last quarter. Finally, Segall Bryant & Hamill LLC grew its position in FMC by 157.8% during the 2nd quarter. Segall Bryant & Hamill LLC now owns 563,546 shares of the basic materials company’s stock valued at $50,274,000 after purchasing an additional 344,986 shares during the last quarter. 89.77% of the stock is currently owned by institutional investors.
In other FMC news, Director Dirk A. Kempthorne acquired 1,173 shares of the stock in a transaction dated Tuesday, August 28th. The shares were purchased at an average price of $86.12 per share, for a total transaction of $101,018.76. Following the purchase, the director now directly owns 35,783 shares of the company’s stock, valued at $3,081,631.96. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, COO Mark Douglas acquired 4,250 shares of the stock in a transaction dated Tuesday, August 14th. The stock was acquired at an average price of $86.13 per share, for a total transaction of $366,052.50. Following the purchase, the chief operating officer now directly owns 59,943 shares in the company, valued at $5,162,890.59. The disclosure for this purchase can be found here. 1.20% of the stock is currently owned by corporate insiders.
FMC (NYSE:FMC) last posted its earnings results on Monday, November 5th. The basic materials company reported $0.98 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.92 by $0.06. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.01 billion. FMC had a net margin of 22.28% and a return on equity of 26.26%. The business’s revenue for the quarter was up 60.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.70 EPS. As a group, analysts expect that FMC Corp will post 6.05 EPS for the current year.
Several analysts recently commented on FMC shares. ValuEngine downgraded shares of FMC from a “hold” rating to a “sell” rating in a research report on Wednesday, October 17th. Zacks Investment Research downgraded shares of FMC from a “buy” rating to a “hold” rating in a research report on Thursday, July 19th. Credit Suisse Group started coverage on shares of FMC in a research report on Monday. They set an “outperform” rating and a $103.00 price objective on the stock. Finally, Citigroup started coverage on shares of FMC in a research report on Monday. They set a “buy” rating and a $92.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $102.15.
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FMC Company Profile
FMC Corporation, a diversified chemical company, provides solutions, applications, and products for the agricultural, consumer, and industrial markets worldwide. The company operates in two segments, FMC Agricultural Solutions and FMC Lithium. The FMC Agricultural Solutions segment develops, manufactures, markets, and sells crop protection chemicals, including insecticides, herbicides, and fungicides that 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.
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