FMC Co. (NYSE:FMC) Sees Significant Increase in Short Interest

FMC Co. (NYSE:FMCGet Rating) saw a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 2,440,000 shares, an increase of 29.1% from the March 15th total of 1,890,000 shares. Based on an average daily volume of 999,100 shares, the days-to-cover ratio is currently 2.4 days. Currently, 2.0% of the shares of the stock are sold short.

In other FMC news, insider Nicholas Pfeiffer sold 2,500 shares of FMC stock in a transaction on Tuesday, February 22nd. The shares were sold at an average price of $116.40, for a total transaction of $291,000.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Michael Finian Reilly sold 4,915 shares of FMC stock in a transaction on Tuesday, March 1st. The stock was sold at an average price of $115.41, for a total transaction of $567,240.15. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,096 shares of company stock worth $1,306,961. 0.57% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Commonwealth Equity Services LLC lifted its holdings in shares of FMC by 0.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 11,587 shares of the basic materials company’s stock worth $1,273,000 after purchasing an additional 96 shares during the period. Baird Financial Group Inc. raised its position in FMC by 1.6% in the fourth quarter. Baird Financial Group Inc. now owns 6,311 shares of the basic materials company’s stock worth $694,000 after acquiring an additional 99 shares in the last quarter. Sustainable Insight Capital Management LLC increased its position in shares of FMC by 4.4% in the fourth quarter. Sustainable Insight Capital Management LLC now owns 2,417 shares of the basic materials company’s stock valued at $266,000 after buying an additional 102 shares in the last quarter. Keybank National Association OH increased its position in shares of FMC by 1.8% in the fourth quarter. Keybank National Association OH now owns 6,255 shares of the basic materials company’s stock valued at $687,000 after buying an additional 108 shares in the last quarter. Finally, Veritable L.P. increased its position in shares of FMC by 1.9% in the third quarter. Veritable L.P. now owns 6,206 shares of the basic materials company’s stock valued at $568,000 after buying an additional 116 shares in the last quarter. 88.63% of the stock is owned by hedge funds and other institutional investors.

Several analysts recently issued reports on the stock. Seaport Res Ptn restated a “buy” rating on shares of FMC in a report on Tuesday, February 8th. Wells Fargo & Company upped their target price on shares of FMC from $130.00 to $150.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 6th. StockNews.com began coverage on shares of FMC in a research note on Thursday, March 31st. They set a “buy” rating on the stock. Monness Crespi & Hardt lowered shares of FMC from a “buy” rating to a “neutral” rating in a research note on Thursday, March 31st. Finally, Loop Capital downgraded FMC from a “buy” rating to a “hold” rating and set a $140.00 price target for the company. in a report on Thursday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $129.47.

Shares of FMC stock traded up $3.07 during trading hours on Monday, hitting $139.86. The stock had a trading volume of 9,809 shares, compared to its average volume of 975,771. The firm has a market capitalization of $17.61 billion, a PE ratio of 24.00, a PEG ratio of 1.61 and a beta of 0.88. FMC has a twelve month low of $87.27 and a twelve month high of $139.09. The stock’s 50 day moving average is $125.71 and its 200 day moving average is $111.23. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.40 and a quick ratio of 1.00.

FMC (NYSE:FMCGet Rating) last posted its quarterly earnings data on Tuesday, February 8th. The basic materials company reported $2.16 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.02 by $0.14. The business had revenue of $1.41 billion during the quarter, compared to the consensus estimate of $1.37 billion. FMC had a return on equity of 29.16% and a net margin of 14.60%. The company’s revenue was up 22.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.42 earnings per share. As a group, equities analysts predict that FMC will post 7.74 earnings per share for the current year.

FMC announced that its Board of Directors has authorized a stock buyback program on Tuesday, February 8th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the basic materials company to repurchase up to 7.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its shares are undervalued.

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 21st. Investors of record on Thursday, March 31st will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 1.52%. The ex-dividend date is Wednesday, March 30th. FMC’s dividend payout ratio is presently 37.19%.

FMC Company Profile (Get Rating)

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 include 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.

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