King Luther Capital Management Corp Purchases 431,640 Shares of FMC Corporation $FMC

King Luther Capital Management Corp increased its position in FMC Corporation (NYSE:FMC) by 40.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,497,932 shares of the basic materials company’s stock after purchasing an additional 431,640 shares during the quarter. King Luther Capital Management Corp’s holdings in FMC were worth $13,362,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of FMC. IFP Advisors Inc grew its holdings in FMC by 99.0% during the second quarter. IFP Advisors Inc now owns 2,726 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 1,356 shares during the period. Glenmede Trust Co. NA increased its position in FMC by 14.9% during the first quarter. Glenmede Trust Co. NA now owns 12,427 shares of the basic materials company’s stock worth $214,000 after buying an additional 1,614 shares during the last quarter. GAMMA Investing LLC raised its stake in FMC by 47.7% in the third quarter. GAMMA Investing LLC now owns 6,620 shares of the basic materials company’s stock valued at $59,000 after buying an additional 2,139 shares during the period. NFSG Corp raised its stake in FMC by 41.1% in the third quarter. NFSG Corp now owns 7,550 shares of the basic materials company’s stock valued at $67,000 after buying an additional 2,200 shares during the period. Finally, Essential Partners LLC acquired a new stake in shares of FMC in the first quarter valued at approximately $43,000. 91.86% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Jacqueline Scanlan sold 4,930 shares of FMC stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $6.55, for a total transaction of $32,291.50. Following the completion of the sale, the vice president owned 58,628 shares of the company’s stock, valued at approximately $384,013.40. This trade represents a 7.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.82% of the stock is owned by insiders.

Analysts Set New Price Targets

FMC has been the subject of several research analyst reports. Mizuho set a $10.00 target price on FMC in a research note on Thursday, October 15th. JPMorgan Chase & Co. dropped their price target on FMC from $16.00 to $12.00 and set a “neutral” rating on the stock in a research note on Friday, July 31st. KeyCorp started coverage on FMC in a report on Friday, September 11th. They set an “overweight” rating and a $16.00 price target for the company. Royal Bank Of Canada reduced their price objective on shares of FMC from $9.00 to $7.00 and set a “sector perform” rating for the company in a research report on Monday, November 2nd. Finally, Citigroup upped their price objective on shares of FMC from $6.00 to $7.00 and gave the company a “neutral” rating in a report on Tuesday, November 3rd. Three investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, FMC currently has an average rating of “Reduce” and an average price target of $10.71.

FMC Price Performance

FMC stock opened at $5.05 on Friday. FMC Corporation has a 12 month low of $4.37 and a 12 month high of $18.29. The stock’s 50 day moving average is $8.11 and its 200-day moving average is $12.02. The company has a current ratio of 1.66, a quick ratio of 1.18 and a debt-to-equity ratio of 416.31. The company has a market capitalization of $785.58 million, a price-to-earnings ratio of -0.15 and a beta of 0.50.

FMC (NYSE:FMC) last released its quarterly earnings results on Thursday, October 29th. The basic materials company reported ($4.41) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($4.49). The firm had revenue of $105.90 million for the quarter, compared to analyst estimates of $487.63 million. FMC had a negative return on equity of 30.77% and a negative net margin of 151.18%. The business’s revenue for the quarter was down 80.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.89 earnings per share. Equities research analysts expect that FMC Corporation will post -3.70 EPS for the current year.

FMC Company Profile

FMC Corporation is an agricultural sciences company that develops and sells crop protection products for farmers and other agricultural customers. Its portfolio includes insecticides, herbicides and fungicides designed to help manage pests, weeds and crop diseases. The company also offers biological solutions and products intended to support plant health. Its products are used across a range of crops and farming systems, and FMC serves agricultural markets around the world. FMC traces its origins to 1883, when it was established as the Bean Spray Pump Company.