FMC Corp (NYSE:FMC) – Research analysts at Seaport Global Securities reduced their FY2018 EPS estimates for shares of FMC in a report issued on Wednesday, October 17th. Seaport Global Securities analyst M. Harrison now forecasts that the basic materials company will post earnings of $5.96 per share for the year, down from their previous estimate of $6.04. Seaport Global Securities also issued estimates for FMC’s Q4 2018 earnings at $1.45 EPS, Q1 2019 earnings at $2.01 EPS, Q2 2019 earnings at $1.98 EPS and Q4 2019 earnings at $1.61 EPS.
Other analysts have also issued research reports about the company. Nomura upped their price objective on FMC from $100.00 to $106.00 and gave the company a “buy” rating in a report on Wednesday, July 11th. Zacks Investment Research upgraded FMC from a “hold” rating to a “buy” rating and set a $100.00 price objective for the company in a report on Friday, July 6th. Finally, ValuEngine lowered FMC from a “hold” rating to a “sell” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $102.69.
FMC (NYSE:FMC) last released its quarterly earnings results on Wednesday, August 1st. The basic materials company reported $1.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.72 by $0.06. The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $1.24 billion. FMC had a return on equity of 27.12% and a net margin of 23.96%. The company’s revenue for the quarter was up 92.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.48 earnings per share.
In related news, Director Dirk A. Kempthorne bought 1,173 shares of FMC stock in a transaction dated Tuesday, August 28th. The stock was acquired at an average cost of $86.12 per share, with a total value of $101,018.76. Following the completion of the acquisition, the director now directly owns 35,783 shares in the company, valued at approximately $3,081,631.96. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Nicholas Pfeiffer sold 375 shares of the company’s stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $89.15, for a total value of $33,431.25. Following the sale, the insider now directly owns 8,604 shares of the company’s stock, valued at $767,046.60. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Aperio Group LLC lifted its holdings in shares of FMC by 13.4% during the third quarter. Aperio Group LLC now owns 66,336 shares of the basic materials company’s stock valued at $5,783,000 after purchasing an additional 7,825 shares during the last quarter. Andra AP fonden lifted its holdings in shares of FMC by 17.9% during the third quarter. Andra AP fonden now owns 31,600 shares of the basic materials company’s stock valued at $2,755,000 after purchasing an additional 4,800 shares during the last quarter. First Hawaiian Bank purchased a new stake in shares of FMC during the third quarter valued at $878,000. State of New Jersey Common Pension Fund D lifted its holdings in shares of FMC by 684.2% during the third quarter. State of New Jersey Common Pension Fund D now owns 149,000 shares of the basic materials company’s stock valued at $12,989,000 after purchasing an additional 130,000 shares during the last quarter. Finally, New Jersey Better Educational Savings Trust purchased a new stake in FMC in the 3rd quarter worth about $523,000. 89.58% of the stock is owned by institutional investors and hedge funds.
FMC Corporation, a diversified chemical company, provides solutions, applications, and products for the agricultural, consumer, and industrial markets worldwide. The company operates in two segments, FMC Agricultural Solutions and FMC Lithium. The FMC Agricultural Solutions segment develops, manufactures, markets, and sells crop protection chemicals, including insecticides, herbicides, and fungicides that 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.
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