Hardman Johnston Global Advisors Reduces Stake in FMC Co.

Hardman Johnston Global Advisors LLC has reduced its investment in FMC Co. (NYSE:FMC) by 5.2% in the third quarter, as indicated in its latest filing with the Securities and Exchange Commission. Following the sale of 11,525 shares, the fund now holds 210,747 shares in the basic materials company, which equates to approximately 0.17% of FMC. The total value of this stake is estimated at $13,897,000 based on the most recent SEC filing.

In addition to Hardman Johnston, several other institutional investors and hedge funds made adjustments to their positions in FMC recently. For instance, Dark Forest Capital Management LP increased its holdings by 3.1% in the second quarter, acquiring 192 additional shares and bringing its total to 6,465 shares valued at $372,000. Similarly, HB Wealth Management LLC raised its stake in FMC by 3.8% during the same period, now owning 5,649 shares worth $325,000 after adding 208 shares. CreativeOne Wealth LLC boosted its position by 6.7% in the first quarter, resulting in ownership of 3,926 shares valued at $250,000 after purchasing 246 additional shares.

UMB Bank n.a. made a significant increase of 56.9% to its FMC shares during the second quarter, now holding 678 shares worth $39,000 after buying 246 more. Benjamin Edwards Inc. also raised its stake by 24.3%, owning 1,326 shares worth $76,000 after an additional purchase of 259 shares. Overall, institutional investors and hedge funds comprise 91.86% of FMC's ownership.

FMC Stock Overview

The stock of FMC opened at $63.63 on Wednesday. Over the past year, FMC shares have reached a low of $49.49 and a high of $68.72. As of now, the company has a market capitalization of $7.94 billion, with a price-to-earnings ratio of 5.48. The PEG ratio stands at 1.66, and the stock shows a beta of 0.85, suggesting a relatively stable investment. The current ratio is 1.48, while the quick ratio is at 1.09, indicating a strong ability to meet short-term obligations. The debt-to-equity ratio is 0.65, reflecting a manageable level of debt.

Earnings Report Highlights

FMC recently announced its earnings results on Tuesday, October 29th. The company reported earnings per share of $0.69 for the quarter, exceeding the analysts' consensus estimate of $0.49 by $0.20. FMC's revenue for the quarter was reported at $1.07 billion, beating analysts' expectations of $1.04 billion. The net margin for FMC stood at 34.93%, and the return on equity was noted to be 7.68%. Year-over-year, the revenue displayed an increase of 8.5%, compared to the previous year when the company posted an EPS of $0.44. Analysts project that FMC will post an EPS of 3.35 for the current fiscal year.

Changes in Analyst Ratings

Analysts from various brokerages have provided updates on FMC. Mizuho raised its price target from $64.00 to $70.00 while maintaining a "neutral" rating on November 1st. JPMorgan Chase & Co. also increased its price target from $50.00 to $59.00, keeping a "neutral" rating. Conversely, Wells Fargo & Company reduced their target price from $68.00 to $62.00, setting an "equal weight" rating. Citigroup initiated coverage on FMC with a "neutral" rating and a target price of $67.00. Furthermore, BMO Capital Markets lifted their price target from $60.00 to $65.00, rating the stock as "market perform". Overall, the assessment from analysts includes various ratings, with one sell, ten hold, four buy, and one strong buy rating, leading to an average rating of "hold" and an average target price of $68.00.

About FMC Corporation

FMC Corporation is an agricultural sciences company that specializes in providing crop protection, plant health, and professional pest management products. The company develops and markets a range of agricultural chemicals, including insecticides, herbicides, and fungicides. FMC aims to enhance crop yield and quality through its product offerings, which also extend into non-agricultural pest control markets.

FMC, Investment, Stocks