Bank of Nova Scotia Sells 6,551 Shares of FMC Co. (NYSE:FMC)

Bank of Nova Scotia trimmed its stake in FMC Co. (NYSE:FMCGet Rating) by 37.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,038 shares of the basic materials company’s stock after selling 6,551 shares during the quarter. Bank of Nova Scotia’s holdings in FMC were worth $1,182,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in FMC. CENTRAL TRUST Co bought a new stake in FMC in the first quarter worth $34,000. Parkside Financial Bank & Trust lifted its holdings in shares of FMC by 99.4% during the first quarter. Parkside Financial Bank & Trust now owns 351 shares of the basic materials company’s stock valued at $47,000 after purchasing an additional 175 shares in the last quarter. Edge Capital Group LLC bought a new position in shares of FMC during the second quarter valued at $49,000. High Net Worth Advisory Group LLC bought a new position in shares of FMC during the first quarter valued at $60,000. Finally, Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of FMC by 360.0% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 828 shares of the basic materials company’s stock valued at $89,000 after purchasing an additional 648 shares in the last quarter. 87.42% of the stock is owned by institutional investors.

FMC Stock Performance

Shares of FMC opened at $127.65 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.41 and a debt-to-equity ratio of 0.85. The business has a 50-day simple moving average of $115.52 and a two-hundred day simple moving average of $112.92. The stock has a market cap of $16.08 billion, a price-to-earnings ratio of 24.69, a PEG ratio of 1.72 and a beta of 0.83. FMC Co. has a 52 week low of $98.24 and a 52 week high of $140.99.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Citigroup upped their price target on FMC from $127.00 to $128.00 in a report on Tuesday, October 4th. Mizuho lowered their price target on FMC from $149.00 to $144.00 and set a “buy” rating on the stock in a report on Thursday, August 4th. Loop Capital raised FMC from a “hold” rating to a “buy” rating and upped their price target for the company from $132.00 to $149.00 in a report on Tuesday. Credit Suisse Group upped their price objective on FMC from $105.00 to $112.00 and gave the company an “underperform” rating in a research report on Wednesday, November 2nd. Finally, StockNews.com upgraded FMC from a “hold” rating to a “buy” rating in a research report on Friday, October 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.91.

Insiders Place Their Bets

In other FMC news, EVP Michael Finian Reilly sold 4,502 shares of the company’s stock in a transaction dated Wednesday, November 9th. The stock was sold at an average price of $126.95, for a total value of $571,528.90. Following the completion of the sale, the executive vice president now owns 18,354 shares in the company, valued at $2,330,040.30. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.57% of the company’s stock.

FMC Company Profile

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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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Institutional Ownership by Quarter for FMC (NYSE:FMC)

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