PNC Financial Services Group Inc. Sells 4,111 Shares of FMC Co. (NYSE:FMC)

PNC Financial Services Group Inc. lessened its stake in shares of FMC Co. (NYSE:FMC) by 6.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 61,464 shares of the basic materials company’s stock after selling 4,111 shares during the period. PNC Financial Services Group Inc.’s holdings in FMC were worth $4,053,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Price T Rowe Associates Inc. MD lifted its position in shares of FMC by 35.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,061,828 shares of the basic materials company’s stock valued at $322,439,000 after acquiring an additional 1,316,133 shares in the last quarter. AQR Capital Management LLC raised its position in FMC by 317.7% during the second quarter. AQR Capital Management LLC now owns 1,099,389 shares of the basic materials company’s stock valued at $63,160,000 after purchasing an additional 836,179 shares during the period. Bank of New York Mellon Corp raised its position in FMC by 2.1% during the second quarter. Bank of New York Mellon Corp now owns 858,129 shares of the basic materials company’s stock valued at $49,385,000 after purchasing an additional 17,381 shares during the period. Dimensional Fund Advisors LP raised its position in FMC by 9.7% during the second quarter. Dimensional Fund Advisors LP now owns 721,879 shares of the basic materials company’s stock valued at $41,543,000 after purchasing an additional 64,055 shares during the period. Finally, New South Capital Management Inc. raised its position in FMC by 1.5% during the third quarter. New South Capital Management Inc. now owns 665,979 shares of the basic materials company’s stock valued at $43,915,000 after purchasing an additional 9,834 shares during the period. Institutional investors own 91.86% of the company’s stock.

FMC Price Performance

NYSE:FMC opened at $58.74 on Monday. FMC Co. has a 52 week low of $50.03 and a 52 week high of $68.72. The company has a quick ratio of 1.09, a current ratio of 1.48 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $7.33 billion, a PE ratio of 5.06, a price-to-earnings-growth ratio of 1.54 and a beta of 0.85. The stock’s 50-day moving average price is $61.74 and its 200-day moving average price is $60.79.

FMC (NYSE:FMC) last posted its earnings results on Tuesday, October 29th. The basic materials company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.20. FMC had a return on equity of 7.68% and a net margin of 34.93%. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period last year, the firm earned $0.44 EPS. The company’s quarterly revenue was up 8.5% on a year-over-year basis. As a group, equities analysts expect that FMC Co. will post 3.35 EPS for the current fiscal year.

Insider Activity

In related news, VP Jacqueline Scanlan sold 4,529 shares of FMC stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $59.67, for a total value of $270,245.43. Following the sale, the vice president now directly owns 28,649 shares in the company, valued at approximately $1,709,485.83. The trade was a 13.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on FMC. Royal Bank of Canada upped their target price on FMC from $78.00 to $81.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Mizuho increased their target price on FMC from $64.00 to $70.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Citigroup initiated coverage on FMC in a research report on Wednesday, October 23rd. They set a “neutral” rating and a $67.00 target price on the stock. Barclays increased their price objective on FMC from $62.00 to $65.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Finally, JPMorgan Chase & Co. raised their target price on FMC from $50.00 to $59.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, FMC presently has an average rating of “Hold” and an average target price of $68.00.

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.