Taylor Frigon Capital Management LLC Has $1.52 Million Stake in FMC Co. (NYSE:FMC)

Taylor Frigon Capital Management LLC trimmed its holdings in FMC Co. (NYSE:FMC) by 2.3% in the third quarter, Holdings Channel reports. The institutional investor owned 23,049 shares of the basic materials company’s stock after selling 552 shares during the period. Taylor Frigon Capital Management LLC’s holdings in FMC were worth $1,520,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Romano Brothers AND Company acquired a new position in FMC during the third quarter valued at approximately $200,000. McAdam LLC acquired a new position in FMC during the third quarter valued at approximately $272,000. Kempner Capital Management Inc. acquired a new position in FMC during the third quarter valued at approximately $1,405,000. U S Global Investors Inc. acquired a new position in FMC during the third quarter valued at approximately $429,000. Finally, Calton & Associates Inc. raised its position in FMC by 74.4% during the third quarter. Calton & Associates Inc. now owns 6,330 shares of the basic materials company’s stock valued at $417,000 after purchasing an additional 2,700 shares in the last quarter. 91.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. KeyCorp lowered their price target on shares of FMC from $81.00 to $79.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. JPMorgan Chase & Co. upped their price target on shares of FMC from $50.00 to $59.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. BMO Capital Markets upped their price target on shares of FMC from $60.00 to $65.00 and gave the company a “market perform” rating in a research report on Friday, August 2nd. Redburn Atlantic upgraded shares of FMC from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 19th. Finally, Wells Fargo & Company decreased their price objective on shares of FMC from $68.00 to $62.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $66.67.

FMC Stock Performance

NYSE:FMC traded down $0.54 during midday trading on Thursday, hitting $61.57. The company’s stock had a trading volume of 149,300 shares, compared to its average volume of 1,700,676. FMC Co. has a fifty-two week low of $49.49 and a fifty-two week high of $68.72. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.48 and a quick ratio of 1.07. The firm has a market cap of $7.69 billion, a P/E ratio of 6.93, a P/E/G ratio of 1.53 and a beta of 0.85. The firm’s 50 day moving average is $63.36 and its 200-day moving average is $60.76.

FMC (NYSE:FMC) last posted its earnings results on Wednesday, July 31st. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, topping 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 net margin of 33.97% and a return on equity of 7.52%. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.50 EPS. Equities analysts anticipate that FMC Co. will post 3.4 earnings per share for the current fiscal 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.