CIBC Asset Management Inc Boosts Holdings in FMC Co. (NYSE:FMC)

CIBC Asset Management Inc grew its position in FMC Co. (NYSE:FMC) by 8.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,433 shares of the basic materials company’s stock after purchasing an additional 1,310 shares during the quarter. CIBC Asset Management Inc’s holdings in FMC were worth $1,150,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in shares of FMC by 5.3% during the first quarter. Vanguard Group Inc. now owns 15,290,219 shares of the basic materials company’s stock worth $973,987,000 after purchasing an additional 768,432 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in shares of 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 acquiring an additional 1,316,133 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of FMC by 317.7% in the second quarter. AQR Capital Management LLC now owns 1,099,389 shares of the basic materials company’s stock worth $63,160,000 after acquiring an additional 836,179 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of FMC by 2.1% during the second quarter. Bank of New York Mellon Corp now owns 858,129 shares of the basic materials company’s stock worth $49,385,000 after purchasing an additional 17,381 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in FMC by 9.7% during the second quarter. Dimensional Fund Advisors LP now owns 721,879 shares of the basic materials company’s stock valued at $41,543,000 after purchasing an additional 64,055 shares during the period. Hedge funds and other institutional investors own 91.86% of the company’s stock.

Insider Activity at FMC

In other FMC news, VP Jacqueline Scanlan sold 4,529 shares of FMC stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $59.67, for a total transaction of $270,245.43. Following the completion of the sale, the vice president now directly owns 28,649 shares in the company, valued at $1,709,485.83. This trade represents a 13.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.85% of the stock is currently owned by insiders.

FMC Stock Performance

Shares of FMC stock opened at $57.20 on Thursday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.09 and a current ratio of 1.48. The business’s 50 day moving average price is $61.91 and its 200 day moving average price is $60.89. The company has a market cap of $7.14 billion, a price-to-earnings ratio of 4.92, a PEG ratio of 1.43 and a beta of 0.85. FMC Co. has a one year low of $50.03 and a one year high of $68.72.

FMC (NYSE:FMC) last announced its quarterly earnings data 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. FMC had a net margin of 34.93% and a return on equity of 7.68%. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the prior year, the firm posted $0.44 earnings per share. FMC’s quarterly revenue was up 8.5% on a year-over-year basis. On average, research analysts predict that FMC Co. will post 3.35 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Citigroup initiated coverage on FMC in a report on Wednesday, October 23rd. They issued a “neutral” rating and a $67.00 price target for the company. Mizuho lifted their price objective on shares of FMC from $64.00 to $70.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Royal Bank of Canada increased their target price on shares of FMC from $78.00 to $81.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. upped their price target on FMC from $50.00 to $59.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Finally, KeyCorp reduced their target price on FMC from $81.00 to $79.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus 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.