Instinet upgraded shares of FMC Corporation (NYSE:FMC) from a neutral rating to a buy rating in a research note published on Wednesday. The brokerage currently has $97.00 target price on the basic materials company’s stock, up from their previous target price of $78.00.
A number of other research firms also recently commented on FMC. Jefferies Group LLC upped their price objective on shares of FMC Corporation from $75.00 to $84.00 and gave the company a buy rating in a research note on Wednesday, April 19th. Wells Fargo & Company raised shares of FMC Corporation from a market perform rating to an outperform rating and set a $85.00 price objective for the company in a research note on Monday, May 15th. Nomura raised shares of FMC Corporation from a neutral rating to a buy rating and upped their price objective for the company from $78.00 to $97.00 in a research note on Friday, August 4th. Zacks Investment Research downgraded shares of FMC Corporation from a buy rating to a hold rating in a research note on Monday, May 8th. Finally, BMO Capital Markets reaffirmed a hold rating and set a $75.00 price objective on shares of FMC Corporation in a research note on Thursday, May 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. FMC Corporation presently has a consensus rating of Buy and a consensus target price of $83.40.
Shares of FMC Corporation (FMC) traded down 0.39% during midday trading on Wednesday, hitting $82.73. 774,942 shares of the company were exchanged. FMC Corporation has a 52-week low of $44.40 and a 52-week high of $85.10. The stock has a market capitalization of $11.10 billion, a price-to-earnings ratio of 245.49 and a beta of 1.62. The company has a 50-day moving average price of $77.42 and a 200-day moving average price of $70.11.
FMC Corporation (NYSE:FMC) last announced its earnings results on Tuesday, August 1st. The basic materials company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.01. FMC Corporation had a net margin of 1.58% and a return on equity of 16.51%. The firm had revenue of $656.80 million during the quarter, compared to the consensus estimate of $614.01 million. During the same quarter in the previous year, the company posted $0.46 EPS. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. On average, analysts forecast that FMC Corporation will post $2.43 EPS for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Thursday, October 19th. Shareholders of record on Friday, September 29th will be issued a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date is Thursday, September 28th. FMC Corporation’s dividend payout ratio is presently 188.58%.
In other FMC Corporation news, insider Mark Douglas sold 12,697 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $75.82, for a total value of $962,686.54. Following the completion of the transaction, the insider now owns 73,690 shares in the company, valued at approximately $5,587,175.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Andrea E. Utecht sold 14,434 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $74.62, for a total value of $1,077,065.08. Following the completion of the transaction, the vice president now owns 131,899 shares of the company’s stock, valued at approximately $9,842,303.38. The disclosure for this sale can be found here. In the last 90 days, insiders sold 38,489 shares of company stock valued at $2,900,120. 1.10% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in FMC. UBS Asset Management Americas Inc. boosted its position in FMC Corporation by 0.5% in the fourth quarter. UBS Asset Management Americas Inc. now owns 312,918 shares of the basic materials company’s stock valued at $17,698,000 after buying an additional 1,575 shares during the period. Teachers Advisors LLC boosted its position in FMC Corporation by 10.2% in the fourth quarter. Teachers Advisors LLC now owns 151,775 shares of the basic materials company’s stock valued at $8,584,000 after buying an additional 14,075 shares during the period. Chevy Chase Trust Holdings Inc. boosted its position in FMC Corporation by 2.9% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 120,233 shares of the basic materials company’s stock valued at $8,367,000 after buying an additional 3,413 shares during the period. Creative Planning boosted its position in FMC Corporation by 4.1% in the first quarter. Creative Planning now owns 7,869 shares of the basic materials company’s stock valued at $548,000 after buying an additional 307 shares during the period. Finally, Sheets Smith Wealth Management acquired a new position in FMC Corporation during the first quarter valued at approximately $899,000. Hedge funds and other institutional investors own 89.97% of the company’s stock.
FMC Corporation Company Profile
FMC Corporation is a diversified chemical company serving agricultural, consumer and industrial markets. The Company operates in three business segments: FMC Agricultural Solutions, FMC Health and Nutrition, and FMC Lithium. As of December 31, 2016, the FMC Agricultural Solutions segment developed, marketed and sold three classes of crop protection chemicals: insecticides, herbicides and fungicides.
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