PNC Financial Services Group Inc. Trims Stock Position in FMC Co. (NYSE:FMC)

PNC Financial Services Group Inc. decreased its position in FMC Co. (NYSE:FMC) by 6.3% during the third quarter, Holdings Channel reports. The firm owned 61,464 shares of the basic materials company’s stock after selling 4,111 shares during the quarter. PNC Financial Services Group Inc.’s holdings in FMC were worth $4,053,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its stake in shares of FMC by 35.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,061,828 shares of the basic materials company’s stock worth $322,439,000 after acquiring an additional 1,316,133 shares in the last quarter. AQR Capital Management LLC grew its holdings in shares of FMC by 317.7% during 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 purchasing an additional 836,179 shares during the last quarter. Pzena Investment Management LLC purchased a new position in shares of FMC during the second quarter worth about $33,191,000. Swedbank AB acquired a new stake in shares of FMC during the first quarter worth about $21,995,000. Finally, Van ECK Associates Corp boosted its stake in shares of FMC by 116.8% during the second quarter. Van ECK Associates Corp now owns 555,095 shares of the basic materials company’s stock worth $31,946,000 after buying an additional 299,097 shares during the period. Hedge funds and other institutional investors own 91.86% of the company’s stock.

FMC Stock Up 0.7 %

Shares of FMC stock opened at $58.74 on Monday. The company has a fifty day moving average price of $61.74 and a 200 day moving average price of $60.79. 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 Co. has a twelve month low of $50.03 and a twelve month high of $68.72. The stock has a market cap of $7.33 billion, a price-to-earnings ratio of 5.06, a price-to-earnings-growth ratio of 1.54 and a beta of 0.85.

FMC (NYSE:FMC) last announced its quarterly earnings results on Tuesday, October 29th. The basic materials company reported $0.69 earnings per share for the quarter, topping 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 analysts’ expectations of $1.04 billion. During the same period in the prior year, the company earned $0.44 EPS. The firm’s revenue was up 8.5% on a year-over-year basis. Equities research analysts forecast that FMC Co. will post 3.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

FMC has been the subject of a number of recent analyst reports. Royal Bank of Canada raised their price objective on shares of FMC from $78.00 to $81.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Barclays raised their price objective on shares of FMC from $62.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. JPMorgan Chase & Co. raised their price objective on shares of FMC from $50.00 to $59.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Citigroup assumed coverage on FMC in a report on Wednesday, October 23rd. They issued a “neutral” rating and a $67.00 price target for the company. Finally, KeyCorp cut their price target on FMC from $81.00 to $79.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, FMC currently has a consensus rating of “Hold” and a consensus target price of $68.00.

Insider Buying and Selling at FMC

In other FMC news, VP Jacqueline Scanlan sold 4,529 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were 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 directly owns 28,649 shares of the company’s stock, valued at $1,709,485.83. This represents a 13.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.85% of the stock is currently owned by corporate insiders.

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.