Biltmore Wealth Management LLC decreased its position in shares of FMC Co. (NYSE:FMC) by 8.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,112 shares of the basic materials company’s stock after selling 490 shares during the quarter. FMC makes up about 0.3% of Biltmore Wealth Management LLC’s portfolio, making the stock its 23rd biggest holding. Biltmore Wealth Management LLC’s holdings in FMC were worth $509,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in FMC. Flagship Harbor Advisors LLC purchased a new stake in shares of FMC during the second quarter worth approximately $37,000. Lindbrook Capital LLC increased its stake in shares of FMC by 3,980.0% during the second quarter. Lindbrook Capital LLC now owns 408 shares of the basic materials company’s stock worth $41,000 after buying an additional 398 shares during the period. Citizens Financial Group Inc RI increased its stake in shares of FMC by 186.8% during the second quarter. Citizens Financial Group Inc RI now owns 975 shares of the basic materials company’s stock worth $98,000 after buying an additional 635 shares during the period. San Francisco Sentry Investment Group CA increased its stake in shares of FMC by 112.3% during the second quarter. San Francisco Sentry Investment Group CA now owns 981 shares of the basic materials company’s stock worth $98,000 after buying an additional 519 shares during the period. Finally, Federated Hermes Inc. increased its stake in shares of FMC by 142.6% during the first quarter. Federated Hermes Inc. now owns 1,099 shares of the basic materials company’s stock worth $90,000 after buying an additional 646 shares during the period. 88.35% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts recently issued reports on FMC shares. Morgan Stanley upped their price target on FMC from $105.00 to $115.00 and gave the company an “equal weight” rating in a report on Monday, August 17th. UBS Group started coverage on FMC in a report on Thursday, September 17th. They issued a “buy” rating and a $127.00 price target for the company. KeyCorp upped their price target on FMC from $108.00 to $119.00 and gave the company an “overweight” rating in a report on Monday, July 13th. ValuEngine raised FMC from a “sell” rating to a “hold” rating in a report on Friday, August 7th. Finally, Truist Financial upped their price target on FMC from $106.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, August 6th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. FMC presently has a consensus rating of “Buy” and a consensus target price of $115.25.
FMC (NYSE:FMC) last released its quarterly earnings data on Tuesday, August 4th. The basic materials company reported $1.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.66 by $0.06. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.21 billion. FMC had a return on equity of 30.31% and a net margin of 10.35%. FMC’s revenue was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.66 earnings per share. On average, analysts predict that FMC Co. will post 6.46 EPS for the current year.
In other FMC news, CEO Mark Douglas sold 52,480 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $109.40, for a total value of $5,741,312.00. Following the completion of the transaction, the chief executive officer now owns 40,928 shares in the company, valued at $4,477,523.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.99% of the company’s stock.
FMC Company Profile
FMC Corporation, an agricultural sciences company, provides crop protection, plant health, and professional pest and turf management products. The company develop, markets, and sells crop protection chemicals, which include insecticides, herbicides, and fungicides that are used in agriculture to enhance crop yield and quality by controlling a range of insects, weeds, and disease, as well as in non-agricultural markets for pest control.
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