Pallas Capital Advisors LLC Raises Holdings in FMC Co. (NYSE:FMC)

Pallas Capital Advisors LLC lifted its position in FMC Co. (NYSE:FMC) by 26.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 10,102 shares of the basic materials company’s stock after acquiring an additional 2,129 shares during the quarter. Pallas Capital Advisors LLC’s holdings in FMC were worth $621,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Hunter Associates Investment Management LLC bought a new stake in FMC in the 3rd quarter worth approximately $201,000. Nisa Investment Advisors LLC grew its holdings in shares of FMC by 3.9% in the third quarter. Nisa Investment Advisors LLC now owns 72,352 shares of the basic materials company’s stock valued at $4,813,000 after purchasing an additional 2,692 shares in the last quarter. Tributary Capital Management LLC increased its position in FMC by 114.3% in the third quarter. Tributary Capital Management LLC now owns 4,875 shares of the basic materials company’s stock worth $321,000 after purchasing an additional 2,600 shares during the last quarter. State of Alaska Department of Revenue raised its stake in FMC by 7.2% during the third quarter. State of Alaska Department of Revenue now owns 14,515 shares of the basic materials company’s stock valued at $957,000 after purchasing an additional 980 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its position in FMC by 11,158.4% during the third quarter. DekaBank Deutsche Girozentrale now owns 14,073 shares of the basic materials company’s stock valued at $917,000 after purchasing an additional 13,948 shares during the last quarter. 91.86% of the stock is currently owned by hedge funds and other institutional investors.

FMC Trading Up 10.7 %

NYSE FMC opened at $66.62 on Thursday. The stock has a market cap of $8.32 billion, a PE ratio of 6.02, a PEG ratio of 1.59 and a beta of 0.85. FMC Co. has a 12 month low of $49.49 and a 12 month high of $68.72. The company’s 50-day moving average price is $63.23 and its 200-day moving average price is $60.81. 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 (NYSE:FMC) last issued its earnings results on Tuesday, October 29th. The basic materials company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.20. FMC had a net margin of 33.97% and a return on equity of 7.52%. The business had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the prior year, the firm earned $0.44 EPS. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. Equities research analysts forecast that FMC Co. will post 3.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

FMC has been the topic of a number of research reports. Wells Fargo & Company reduced their target price on shares of FMC from $68.00 to $62.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 16th. Redburn Atlantic raised FMC from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 19th. Barclays raised their price objective on FMC from $62.00 to $65.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Citigroup began coverage on FMC in a research report on Wednesday, October 23rd. They set a “neutral” rating and a $67.00 target price on the stock. Finally, KeyCorp lowered their price target on FMC from $81.00 to $79.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $67.00.

FMC 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.