Addison Capital Co Lowers Holdings in FMC Co. (NYSE:FMC)

Addison Capital Co decreased its holdings in FMC Co. (NYSE:FMC) by 1.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 26,876 shares of the basic materials company’s stock after selling 455 shares during the period. Addison Capital Co’s holdings in FMC were worth $1,772,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FMC. Vanguard Group Inc. grew its holdings in shares of FMC by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 15,290,219 shares of the basic materials company’s stock worth $973,987,000 after purchasing an additional 768,432 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of FMC by 35.1% during the 1st 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 purchasing an additional 1,316,133 shares during the period. AQR Capital Management LLC boosted its holdings in 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 acquiring an additional 836,179 shares during the period. Russell Investments Group Ltd. boosted its holdings in FMC by 11.6% in the 1st quarter. Russell Investments Group Ltd. now owns 903,274 shares of the basic materials company’s stock worth $57,538,000 after acquiring an additional 93,892 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in 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 acquiring an additional 17,381 shares during the period. Hedge funds and other institutional investors own 91.86% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on FMC. KeyCorp decreased 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. Redburn Atlantic upgraded FMC from a “hold” rating to a “strong-buy” rating in a report on Friday, July 19th. Wells Fargo & Company decreased their price target on FMC from $68.00 to $62.00 and set an “equal weight” rating for the company in a report on Tuesday, July 16th. JPMorgan Chase & Co. upped their price target on FMC from $50.00 to $59.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Finally, BMO Capital Markets upped their price target on FMC from $60.00 to $65.00 and gave the stock a “market perform” rating in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, eleven have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $66.64.

FMC Stock Performance

FMC stock opened at $62.69 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.07 and a debt-to-equity ratio of 0.66. The firm has a market cap of $7.82 billion, a P/E ratio of 6.98, a P/E/G ratio of 1.53 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 stock’s 50 day simple moving average is $63.24 and its 200 day simple moving average is $60.69.

FMC (NYSE:FMC) last posted its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.08. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. FMC had a return on equity of 7.52% and a net margin of 33.97%. The business’s revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.50 EPS. As a group, equities research analysts predict that FMC Co. will post 3.4 EPS for the current year.

About FMC

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.