SunTrust Banks Increases FMC (NYSE:FMC) Price Target to $125.00

FMC (NYSE:FMC) had its price objective boosted by SunTrust Banks from $109.00 to $125.00 in a report published on Monday morning, The Fly reports. The firm currently has a buy rating on the basic materials company’s stock.

FMC has been the subject of several other reports. Robert W. Baird upgraded FMC from a neutral rating to an outperform rating and increased their price objective for the stock from $86.00 to $95.00 in a research report on Wednesday, October 16th. Zacks Investment Research lowered FMC from a hold rating to a sell rating and set a $87.00 price objective for the company. in a research report on Wednesday, October 16th. Buckingham Research increased their price objective on FMC from $100.00 to $105.00 and gave the stock a buy rating in a research report on Thursday, October 31st. Finally, Wells Fargo & Co increased their price objective on FMC from $118.00 to $130.00 and gave the stock an overweight rating in a research report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have issued a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $106.11.

Shares of FMC stock traded down $0.20 during trading hours on Monday, reaching $105.23. The company had a trading volume of 276,769 shares, compared to its average volume of 942,367. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.12 and a current ratio of 1.50. The stock has a fifty day moving average of $99.61 and a 200-day moving average of $92.46. The company has a market capitalization of $13.64 billion, a price-to-earnings ratio of 29.15, a PEG ratio of 1.47 and a beta of 1.54. FMC has a 12-month low of $70.62 and a 12-month high of $108.77.

FMC (NYSE:FMC) last issued its quarterly earnings data on Wednesday, February 5th. The basic materials company reported $1.76 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.22. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.19 billion. FMC had a return on equity of 29.69% and a net margin of 10.36%. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.69 earnings per share. On average, analysts forecast that FMC will post 6.62 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.44 per share. This is a positive change from FMC’s previous quarterly dividend of $0.40. This represents a $1.76 annualized dividend and a dividend yield of 1.67%. The ex-dividend date was Monday, December 30th. FMC’s dividend payout ratio (DPR) is currently 28.90%.

In other news, CEO Pierre R. Brondeau sold 82,534 shares of the firm’s stock in a transaction on Monday, February 10th. The stock was sold at an average price of $104.83, for a total transaction of $8,652,039.22. Following the completion of the transaction, the chief executive officer now directly owns 231,756 shares in the company, valued at $24,294,981.48. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Nicholas Pfeiffer sold 3,379 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $98.93, for a total value of $334,284.47. Following the transaction, the insider now owns 10,925 shares of the company’s stock, valued at $1,080,810.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 398,069 shares of company stock valued at $39,814,850. Company insiders own 1.50% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in FMC. Keybank National Association OH raised its stake in shares of FMC by 3.1% in the third quarter. Keybank National Association OH now owns 5,501 shares of the basic materials company’s stock valued at $482,000 after acquiring an additional 163 shares in the last quarter. Creative Planning raised its stake in shares of FMC by 20.7% in the third quarter. Creative Planning now owns 9,020 shares of the basic materials company’s stock valued at $791,000 after acquiring an additional 1,550 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in shares of FMC in the third quarter valued at $1,507,000. Clark Capital Management Group Inc. acquired a new stake in shares of FMC in the fourth quarter valued at $19,214,000. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of FMC by 1.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,699,880 shares of the basic materials company’s stock valued at $149,045,000 after acquiring an additional 32,177 shares in the last quarter. Institutional investors and hedge funds own 89.62% of the company’s stock.

About FMC

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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