Augustine Asset Management Inc. Acquires Shares of 54,590 FMC Corp. (FMC)
Augustine Asset Management Inc. acquired a new position in shares of FMC Corp. (NYSE:FMC) during the third quarter, Holdings Channel reports. The firm acquired 54,590 shares of the company’s stock, valued at approximately $2,638,000. FMC Corp. comprises 1.9% of Augustine Asset Management Inc.’s investment portfolio, making the stock its 18th largest position.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tredje AP fonden raised its position in shares of FMC Corp. by 603.2% in the second quarter. Tredje AP fonden now owns 2,180 shares of the company’s stock worth $101,000 after buying an additional 1,870 shares during the last quarter. IFP Advisors Inc raised its position in shares of FMC Corp. by 11,180.0% in the second quarter. IFP Advisors Inc now owns 2,256 shares of the company’s stock worth $104,000 after buying an additional 2,236 shares during the last quarter. Mizuho Asset Management Co. Ltd. raised its position in shares of FMC Corp. by 112.2% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,347 shares of the company’s stock worth $109,000 after buying an additional 1,241 shares during the last quarter. Advisor Group Inc. purchased a new position in shares of FMC Corp. during the second quarter worth $155,000. Finally, Investment Counselors of Maryland LLC raised its position in shares of FMC Corp. by 3.0% in the second quarter. Investment Counselors of Maryland LLC now owns 3,394 shares of the company’s stock worth $157,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 92.80% of the company’s stock.
Shares of FMC Corp. (NYSE:FMC) traded up 2.41% on Wednesday, hitting $56.12. The company’s stock had a trading volume of 1,046,274 shares. FMC Corp. has a one year low of $32.24 and a one year high of $56.22. The stock has a 50-day moving average price of $50.56 and a 200 day moving average price of $48.33. The firm’s market cap is $7.51 billion.
FMC Corp. (NYSE:FMC) last issued its quarterly earnings data on Wednesday, November 2nd. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.08. The business earned $808 million during the quarter, compared to the consensus estimate of $674.10 million. FMC Corp. had a negative net margin of 0.33% and a positive return on equity of 18.06%. The company’s revenue was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.42 earnings per share. Equities research analysts predict that FMC Corp. will post $2.82 EPS for the current year.
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A number of research analysts have recently weighed in on the company. Nomura restated a “hold” rating on shares of FMC Corp. in a research report on Thursday, November 3rd. Zacks Investment Research upgraded FMC Corp. from a “sell” rating to a “hold” rating and set a $59.00 price objective for the company in a research report on Friday, November 4th. Credit Suisse Group AG upgraded FMC Corp. from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $48.00 to $57.00 in a research report on Friday, November 4th. Jefferies Group restated a “buy” rating and set a $58.00 price objective on shares of FMC Corp. in a research report on Thursday, September 29th. Finally, Susquehanna lifted their price target on FMC Corp. from $46.00 to $48.00 and gave the stock a “neutral” rating in a research report on Friday, August 26th. Eight investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. FMC Corp. has an average rating of “Hold” and a consensus target price of $47.00.
About FMC Corp.
FMC Corporation is a diversified chemical company serving agricultural, consumer and industrial markets. The Company operates through three business segments: FMC Agricultural Solutions, FMC Health and Nutrition, and FMC Lithium. The Company’s FMC Agricultural Solutions segment develops, markets and sells over three classes of crop protection chemicals, including insecticides, herbicides and fungicides.
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