Greenleaf Trust Reduces Holdings in FMC Co. (NYSE:FMC)

Greenleaf Trust cut its position in shares of FMC Co. (NYSE:FMC) by 3.0% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 17,210 shares of the basic materials company’s stock after selling 526 shares during the quarter. Greenleaf Trust’s holdings in FMC were worth $1,135,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of FMC. Wealth Enhancement Advisory Services LLC grew its holdings in shares of FMC by 13.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 13,422 shares of the basic materials company’s stock worth $855,000 after buying an additional 1,583 shares in the last quarter. Oak Thistle LLC purchased a new stake in shares of FMC during the first quarter worth about $399,000. Tributary Capital Management LLC purchased a new stake in FMC in the first quarter valued at approximately $151,000. Allspring Global Investments Holdings LLC grew its holdings in FMC by 32.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 8,467 shares of the basic materials company’s stock valued at $539,000 after purchasing an additional 2,084 shares during the period. Finally, JTC Employer Solutions Trustee Ltd purchased a new stake in FMC in the first quarter valued at approximately $389,000. 91.86% of the stock is currently owned by hedge funds and other institutional investors.

FMC Price Performance

Shares of NYSE FMC opened at $61.49 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.07 and a debt-to-equity ratio of 0.66. FMC Co. has a twelve month low of $49.49 and a twelve month high of $68.72. The company has a market capitalization of $7.68 billion, a price-to-earnings ratio of 6.86, a PEG ratio of 1.53 and a beta of 0.85. The firm has a 50-day moving average of $63.34 and a two-hundred day moving average of $60.76.

FMC (NYSE:FMC) last posted its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.08. FMC had a net margin of 33.97% and a return on equity of 7.52%. The company had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the firm earned $0.50 earnings per share. The business’s quarterly revenue was up 2.4% on a year-over-year basis. As a group, analysts expect that FMC Co. will post 3.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Barclays boosted their target price on shares of FMC from $62.00 to $65.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. JPMorgan Chase & Co. boosted their target price on shares of FMC from $50.00 to $59.00 and gave the company a “neutral” rating in a report on Monday, August 12th. KeyCorp lowered their target price on shares of FMC from $81.00 to $79.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. BMO Capital Markets boosted their target price on shares of FMC from $60.00 to $65.00 and gave the company a “market perform” rating in a report on Friday, August 2nd. Finally, Wells Fargo & Company reduced their price target on shares of FMC from $68.00 to $62.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $67.00.

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.