5 Best Potash Stocks to Buy

3. FMC Corporation (NYSE:FMC)

Number of Hedge Fund Holders: 32

Philadelphia, Pennsylvania-based FMC Corporation (NYSE:FMC) is a global agricultural sciences company providing products and solutions across biologicals, crop nutrition, digital and precision agriculture. It employs nearly 6,600 personnel at more than 100 sites worldwide.

On May 1, FMC Corporation (NYSE:FMC) released its financial results for Q1 2023. It generated a revenue of $1.34 billion and a net income of $196 million which translates to a normalized EPS of $1.77. The company currently pays a regular quarterly dividend of $0.58 per share.

Following the earnings release, Wells Fargo lowered the price target on FMC Corporation (NYSE:FMC) shares to $142 from $148 and maintained an ‘Overweight’ rating for the shares. This represents a potential upside of nearly 37.4%, based on the share price as of July 6.

FMC Corporation (NYSE:FMC) was a common component of the portfolios of 32 hedge funds out of the 943 tracked by Insider Monkey. Notable investors included Glenview Capital, Cardinal Capital, and Citadel Investment Group, among others.