Principal Financial Group Inc. Has $8,839,000 Stake in FMC Corp. (FMC)
Principal Financial Group Inc. increased its position in FMC Corp. (NYSE:FMC) by 0.6% during the second quarter, Holdings Channel reports. The fund owned 190,875 shares of the company’s stock after buying an additional 1,152 shares during the period. Principal Financial Group Inc. owned 0.14% of FMC Corp. worth $8,839,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently made changes to their positions in the company. Investment Counselors of Maryland LLC increased 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. Seven Eight Capital LLC increased its position in shares of FMC Corp. by 2.4% in the first quarter. Seven Eight Capital LLC now owns 4,200 shares of the company’s stock worth $170,000 after buying an additional 100 shares during the last quarter. Pitcairn Co. bought a new position in shares of FMC Corp. during the second quarter worth approximately $214,000. Charter Trust Co. bought a new position in shares of FMC Corp. during the second quarter worth approximately $218,000. Finally, Alambic Investment Management L.P. bought a new position in shares of FMC Corp. during the second quarter worth approximately $218,000. Hedge funds and other institutional investors own 94.50% of the company’s stock.
FMC Corp. (NYSE:FMC) opened at 47.22 on Wednesday. The stock’s market capitalization is $6.32 billion. FMC Corp. has a 12-month low of $32.24 and a 12-month high of $50.57. The company has a 50-day moving average price of $47.35 and a 200-day moving average price of $46.47.
FMC Corp. (NYSE:FMC) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.02. The business earned $810.30 million during the quarter, compared to the consensus estimate of $889.70 million. FMC Corp. had a positive return on equity of 16.35% and a negative net margin of 2.79%. The business’s revenue for the quarter was down 8.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.70 EPS. On average, equities research analysts forecast that FMC Corp. will post $2.73 earnings per share for the current year.
A number of equities analysts recently commented on the company. KeyCorp reiterated a “buy” rating on shares of FMC Corp. in a research report on Wednesday, June 29th. Credit Suisse Group AG reiterated a “hold” rating on shares of FMC Corp. in a research report on Monday, June 27th. Citigroup Inc. lifted their price objective on FMC Corp. from $48.00 to $51.00 and gave the stock a “neutral” rating in a research report on Friday, July 15th. Nomura reiterated a “hold” rating on shares of FMC Corp. in a research report on Tuesday, July 12th. Finally, Zacks Investment Research downgraded FMC Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, August 9th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $44.17.
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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