FMC Co. (NYSE:FMC) to Issue Quarterly Dividend of $0.58

FMC Co. (NYSE:FMC) declared a quarterly dividend on Tuesday, April 30th, RTT News reports. Shareholders of record on Friday, June 28th will be given a dividend of 0.58 per share by the basic materials company on Thursday, July 18th. This represents a $2.32 annualized dividend and a yield of 3.93%.

FMC has increased its dividend by an average of 8.8% annually over the last three years. FMC has a dividend payout ratio of 46.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect FMC to earn $4.85 per share next year, which means the company should continue to be able to cover its $2.32 annual dividend with an expected future payout ratio of 47.8%.

FMC Price Performance

Shares of NYSE:FMC traded down $1.20 during trading on Tuesday, reaching $59.01. The company had a trading volume of 1,954,886 shares, compared to its average volume of 1,942,430. The firm’s fifty day moving average is $59.61 and its 200 day moving average is $57.97. The firm has a market capitalization of $7.37 billion, a PE ratio of 5.72, a price-to-earnings-growth ratio of 1.88 and a beta of 0.87. FMC has a twelve month low of $49.49 and a twelve month high of $124.61. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.01 and a current ratio of 1.52.

FMC (NYSE:FMC) last issued its quarterly earnings results on Tuesday, February 6th. The basic materials company reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.01). The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.25 billion. FMC had a return on equity of 12.98% and a net margin of 29.45%. During the same period in the prior year, the company posted $2.37 earnings per share. On average, equities analysts forecast that FMC will post 3.88 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Andrew D. Sandifer acquired 2,150 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were bought at an average cost of $59.22 per share, with a total value of $127,323.00. Following the completion of the transaction, the chief financial officer now directly owns 50,088 shares of the company’s stock, valued at $2,966,211.36. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.81% of the company’s stock.

Analyst Ratings Changes

FMC has been the subject of a number of research reports. Bank of America cut shares of FMC from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $60.00 to $57.00 in a report on Tuesday, January 16th. BMO Capital Markets decreased their price objective on shares of FMC from $63.00 to $61.00 and set a “market perform” rating for the company in a research note on Wednesday, February 7th. Roth Mkm initiated coverage on shares of FMC in a research note on Thursday, January 4th. They issued a “buy” rating and a $74.00 price objective for the company. Mizuho decreased their price objective on shares of FMC from $59.00 to $55.00 and set a “neutral” rating for the company in a research note on Tuesday, February 6th. Finally, Royal Bank of Canada cut their target price on shares of FMC from $61.00 to $59.00 and set an “outperform” rating for the company in a research report on Thursday, February 8th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $71.75.

About FMC

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 includes 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.