FMC (NYSE:FMC – Get Free Report) had its target price dropped by investment analysts at Mizuho from $15.00 to $12.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the basic materials company’s stock. Mizuho’s target price would indicate a potential upside of 44.02% from the stock’s previous close.
FMC has been the topic of several other research reports. BMO Capital Markets set a $14.00 target price on FMC in a research report on Friday, July 3rd. JPMorgan Chase & Co. dropped their price target on FMC from $16.00 to $12.00 and set a “neutral” rating for the company in a research report on Friday, July 31st. Wall Street Zen raised FMC from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Morgan Stanley decreased their price objective on FMC from $15.50 to $12.00 and set an “equal weight” rating on the stock in a report on Friday, July 31st. Finally, Barclays raised shares of FMC from a “strong sell” rating to a “hold” rating in a report on Thursday, August 6th. Four investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $13.54.
Check Out Our Latest Report on FMC
FMC Trading Down 0.2%
FMC (NYSE:FMC – Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The basic materials company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.04. FMC had a positive return on equity of 11.35% and a negative net margin of 84.83%. The company had revenue of $841.40 million for the quarter, compared to analysts’ expectations of $895.14 million. During the same period in the previous year, the firm posted $0.69 EPS. FMC’s revenue was down 17.5% compared to the same quarter last year. On average, sell-side analysts predict that FMC will post 1.25 EPS for the current fiscal year.
Institutional Trading of FMC
A number of institutional investors have recently bought and sold shares of FMC. Bank of New York Mellon Corp acquired a new position in shares of FMC during the 2nd quarter worth about $8,498,000. AXQ Capital LP raised its position in shares of FMC by 109.9% during the 2nd quarter. AXQ Capital LP now owns 366,661 shares of the basic materials company’s stock worth $4,217,000 after acquiring an additional 191,945 shares in the last quarter. SG Americas Securities LLC raised its position in shares of FMC by 6.7% during the 1st quarter. SG Americas Securities LLC now owns 213,656 shares of the basic materials company’s stock worth $3,679,000 after acquiring an additional 13,330 shares in the last quarter. Wellington Management Group LLP lifted its stake in FMC by 142.4% during the second quarter. Wellington Management Group LLP now owns 235,089 shares of the basic materials company’s stock worth $2,704,000 after purchasing an additional 138,098 shares during the last quarter. Finally, Entropy Technologies LP purchased a new stake in FMC during the first quarter worth approximately $1,401,000. 91.86% of the stock is owned by hedge funds and other institutional investors.
FMC Company Profile
FMC Corporation (NYSE: FMC) is an agricultural sciences company that develops, manufactures and markets crop protection products for farmers and other agricultural professionals. Its portfolio includes herbicides, insecticides and fungicides used to help protect crops from weeds, insects and diseases.
The company also develops biological and other crop health solutions, supported by research in areas such as plant science, chemistry and biotechnology. FMC’s products are used across a range of crops and growing conditions, and the company serves agricultural markets in North America, Latin America, Europe, Asia and other regions worldwide.
FMC traces its origins to 1883 and has evolved through acquisitions and investments in agricultural technology into a focused crop protection company.
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