FMC Corporation (FMC) Lifted to Buy at Instinet

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.

COPYRIGHT VIOLATION WARNING: “FMC Corporation (FMC) Lifted to Buy at Instinet” was originally reported by Stock Observer and is the sole property of of Stock Observer. If you are viewing this article on another website, it was illegally stolen and republished in violation of U.S. & international copyright legislation. The legal version of this article can be accessed at https://www.thestockobserver.com/2017/08/12/fmc-corporation-fmc-lifted-to-buy-at-instinet.html.

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.

Analyst Recommendations for FMC Corporation (NYSE:FMC)

Receive News & Ratings for FMC Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FMC Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply