Shares of FMC Corp (NYSE:FMC) have been assigned an average recommendation of “Buy” from the twelve ratings firms that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $96.10.
Several brokerages have issued reports on FMC. Jefferies Financial Group reaffirmed a “buy” rating and set a $112.00 price objective (up previously from $108.00) on shares of FMC in a report on Thursday, March 21st. Nomura raised their price objective on FMC from $90.00 to $93.00 and gave the stock a “buy” rating in a report on Wednesday, February 13th. KeyCorp dropped their price objective on FMC from $105.00 to $95.00 and set an “overweight” rating on the stock in a report on Friday, April 12th. Zacks Investment Research raised FMC from a “sell” rating to a “hold” rating in a report on Wednesday, February 13th. Finally, ValuEngine raised FMC from a “hold” rating to a “buy” rating in a report on Friday, March 1st.
Shares of FMC stock traded down $0.54 during mid-day trading on Friday, hitting $75.23. 1,007,743 shares of the stock were exchanged, compared to its average volume of 1,060,046. The firm has a market cap of $9.96 billion, a price-to-earnings ratio of 11.96, a PEG ratio of 1.22 and a beta of 1.49. FMC has a 12-month low of $69.36 and a 12-month high of $92.95. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.92 and a current ratio of 1.26.
FMC (NYSE:FMC) last issued its quarterly earnings data on Monday, May 6th. The basic materials company reported $1.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.62 by $0.10. The company had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.19 billion. FMC had a return on equity of 27.53% and a net margin of 9.57%. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.84 earnings per share. As a group, research analysts predict that FMC will post 5.76 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Friday, June 28th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend is Thursday, June 27th. FMC’s dividend payout ratio is currently 25.44%.
In related news, Director Robert C. Pallash sold 6,992 shares of the firm’s stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $87.28, for a total transaction of $610,261.76. Following the transaction, the director now owns 37,458 shares of the company’s stock, valued at $3,269,334.24. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Mark Douglas sold 18,500 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $75.12, for a total value of $1,389,720.00. Following the transaction, the insider now directly owns 47,594 shares in the company, valued at approximately $3,575,261.28. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc lifted its position in FMC by 0.4% in the third quarter. Vanguard Group Inc now owns 14,445,070 shares of the basic materials company’s stock valued at $1,259,321,000 after purchasing an additional 62,905 shares during the period. BlackRock Inc. lifted its position in FMC by 3.5% in the fourth quarter. BlackRock Inc. now owns 9,284,039 shares of the basic materials company’s stock valued at $686,649,000 after purchasing an additional 315,427 shares during the period. Wellington Management Group LLP lifted its position in FMC by 5.1% in the first quarter. Wellington Management Group LLP now owns 8,467,541 shares of the basic materials company’s stock valued at $650,477,000 after purchasing an additional 407,746 shares during the period. Boston Partners lifted its position in FMC by 12.4% in the first quarter. Boston Partners now owns 6,486,738 shares of the basic materials company’s stock valued at $498,311,000 after purchasing an additional 717,477 shares during the period. Finally, Northern Trust Corp lifted its position in FMC by 11.0% in the first quarter. Northern Trust Corp now owns 2,713,988 shares of the basic materials company’s stock valued at $208,489,000 after purchasing an additional 268,542 shares during the period. 90.77% of the stock is currently owned by hedge funds and other institutional investors.
FMC Corporation, a diversified chemical company, provides solutions, applications, and products for the agricultural, consumer, and industrial markets worldwide. The company operates in two segments, FMC Agricultural Solutions and FMC Lithium. The FMC Agricultural Solutions segment develops, manufactures, markets, and sells crop protection chemicals, including insecticides, herbicides, and fungicides that 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.
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