Wellington Management Co. LLP has recently announced that it has increased stake in FMC Corp. (NYSE:FMC) by 17.68%. After grabbing 10.88 million shares, the institutional investor is now in possession of 1.63 million shares of the Basic Materials Company. The new investment brought the stake of investor firm to 8.72% having worth around $583.91 million. Moreover, Geode Capital Management LLC increased its share by 0.19 million to have a control over 2.85 million shares. And Manning & Napier Advisors LLC raised its holdings to 0.83 million shares by acquiring 2.25 million shares or 1.80% of the stake.
FMC Corp. (FMC) concluded trading on 12/21/23 at a closing price of $62.10, with 1.8 million shares of worth about $112.04 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -41.27% during that period and on Thursday the price saw a gain of about 3.97%. Currently the company’s common shares owned by public are about 125.11M shares, out of which, 123.97M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 20 analysts are covering the FMC stock and their offered price forecasts bring an average price target of $66.67. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $95.00 and could fall to a lowest price of $53.00. The stock’s current price level is 6.85% above of average price target set by the analysts, while a rise to estimated low would result in loss of -17.17% for the stock. However, touching the estimated high of $95.00 would mean a gain of 34.63% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 173 times over the past 12 months. They bought 147,478 shares in 132 of the transactions. In 41 selling transactions, insiders dumped 40,854 shares.
Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and Vanguard Mid Cap Index Fund are the top 3 mutual funds which are holding stakes in FMC Corp. Vanguard Total Stock Market ETF is currently holding 3.91 million shares of worth totaling $209.88 million. The company recently came buying 22967.0 shares which brought its stake up to 3.14% of the company’s outstanding shares. Vanguard 500 Index Fund bought 13208.0 shares, after which its hold over company’s outstanding shares expand to 2.41%, leaving 3.01 million shares with the mutual fund that have a worth of about $161.57 million. Vanguard Mid Cap Index Fund, after buying 2.83 million shares, have now control over 2.27% of the stake in the company. It holds 8969.0 shares of worth $152.1 million.
FMC Corp. (NYSE: FMC) started trading at $60.57, above $0.84 from concluding price of the previous day. However, the stock later moved at a day high price of 62.11, or with a gain of 3.97%. Stock saw a price change of 3.10% in past 5 days and over the past one month there was a price change of 16.73%. Year-to-date (YTD), FMC shares are showing a performance of -50.24% which decreased to -49.99% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $49.49 but also hit the highest price of $133.37 during that period. The average intraday trading volume for FMC Corp. shares is 1.92 million. The stock is currently trading 11.30% above its 20-day simple moving average (SMA20), while that difference is up 9.92% for SMA50 and it goes to -30.44% lower than SMA200.
Wellington Management Co. LLP acquired 10.88 million shares of FMC Corp. having value of about $583.91 million. Data submitted at the U.S SEC by Wellington Management Co. LLP revealed that the firm now holds 1.63 million shares in the company valued at close to $101504623.5, or have control over 17.68% stake in the company. FMC Corp. (NYSE: FMC) currently have 125.11M outstanding shares and institutions hold larger chunk of about 92.48% of that. Holding of mutual funds in the company is about 43.32% while other institutional holders and individual stake holders have control over 49.42% and 1.73% of the stake respectively.
The stock has a current market capitalization of $7.75B and its 3Y-monthly beta is at 0.87. PE ratio of stock for trailing 12 months is 15.81, while it has posted earnings per share of $3.93 in the same period. Its PEG reads 3.52 and has Quick Ratio of 0.96 while making debt-to-equity ratio of 1.30. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for FMC, volatility over the week remained 2.66% while standing at 3.04% over the month.
Analysts are in expectations that FMC Corp. (FMC) stock would likely to be making an EPS of $1.09 in the current quarter, while forecast for next quarter EPS is $1.04 and it is $4.47 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.89 which is $1.34 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $2.37 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -48.40% while it is estimated to increase by 17.82% in next year.
Analysts at 20 brokerage firms have issued recommendations for the FMC Corp. (FMC)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.10. Out of those 20 Wall Street analysts, 9 recommended a “Buy” rating, while 11 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by BMO Capital Markets on December 14, 2023 offering a Market perform rating for the stock and assigned a target price range of between $80 and $63 to it.
