Brooklyn Investment Group Makes New Investment in FMC Co. (NYSE:FMC)

Brooklyn Investment Group purchased a new position in FMC Co. (NYSE:FMC) during the third quarter, Holdings Channel reports. The fund purchased 784 shares of the basic materials company’s stock, valued at approximately $52,000.

A number of other large investors have also bought and sold shares of the stock. Charles Schwab Investment Management Inc. increased its stake in FMC by 1.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,136,344 shares of the basic materials company’s stock worth $74,931,000 after purchasing an additional 20,350 shares during the period. AQR Capital Management LLC grew its position in shares of FMC by 317.7% in the 2nd quarter. AQR Capital Management LLC now owns 1,099,389 shares of the basic materials company’s stock worth $63,160,000 after buying an additional 836,179 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of FMC by 2.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 858,129 shares of the basic materials company’s stock worth $49,385,000 after buying an additional 17,381 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of FMC by 9.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 721,879 shares of the basic materials company’s stock worth $41,543,000 after buying an additional 64,055 shares during the last quarter. Finally, New South Capital Management Inc. grew its position in shares of FMC by 1.5% in the 3rd quarter. New South Capital Management Inc. now owns 665,979 shares of the basic materials company’s stock worth $43,915,000 after buying an additional 9,834 shares during the last quarter. 91.86% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on FMC. JPMorgan Chase & Co. lifted their price objective on FMC from $50.00 to $59.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Citigroup began coverage on FMC in a research report on Wednesday, October 23rd. They issued a “neutral” rating and a $67.00 price objective on the stock. Royal Bank of Canada lifted their price objective on FMC from $78.00 to $81.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Mizuho lifted their price objective on FMC from $64.00 to $70.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Finally, Barclays lifted their price target on FMC from $62.00 to $65.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $68.00.

FMC Stock Down 0.7 %

Shares of NYSE:FMC opened at $59.09 on Friday. The stock has a fifty day simple moving average of $61.44 and a two-hundred day simple moving average of $60.67. The stock has a market capitalization of $7.38 billion, a price-to-earnings ratio of 5.06, a PEG ratio of 1.57 and a beta of 0.85. FMC Co. has a 12-month low of $50.03 and a 12-month high of $68.72. The company has a current ratio of 1.48, a quick ratio of 1.09 and a debt-to-equity ratio of 0.65.

FMC (NYSE:FMC) last posted its quarterly earnings results on Tuesday, October 29th. The basic materials company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.20. FMC had a return on equity of 7.68% and a net margin of 34.93%. The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the previous year, the business earned $0.44 earnings per share. The company’s revenue was up 8.5% on a year-over-year basis. On average, research analysts anticipate that FMC Co. will post 3.35 earnings per share for the current fiscal year.

Insider Transactions at FMC

In other news, VP Jacqueline Scanlan sold 4,529 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $59.67, for a total value of $270,245.43. Following the completion of the transaction, the vice president now owns 28,649 shares in the company, valued at $1,709,485.83. The trade was a 13.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.85% 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. 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.