Mizuho Cuts FMC (NYSE:FMC) Price Target to $55.00

FMC (NYSE:FMC) had its target price cut by investment analysts at Mizuho from $70.00 to $55.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the basic materials company’s stock. Mizuho’s price objective points to a potential upside of 8.44% from the company’s previous close.

Several other equities analysts also recently commented on the stock. UBS Group lowered their price objective on shares of FMC from $75.00 to $66.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Royal Bank of Canada upped their price target on FMC from $78.00 to $81.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Citigroup dropped their price objective on FMC from $70.00 to $55.00 and set a “neutral” rating for the company in a report on Wednesday, December 18th. Finally, KeyCorp reduced their target price on FMC from $79.00 to $69.00 and set an “overweight” rating on the stock in a research note on Thursday, January 2nd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $62.92.

FMC Trading Up 2.1 %

FMC traded up $1.05 on Tuesday, hitting $50.72. 317,034 shares of the company were exchanged, compared to its average volume of 1,102,357. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.09 and a current ratio of 1.48. The firm has a fifty day simple moving average of $55.81 and a two-hundred day simple moving average of $59.31. The stock has a market capitalization of $6.33 billion, a PE ratio of 4.36, a price-to-earnings-growth ratio of 1.41 and a beta of 0.80. FMC has a 12 month low of $47.71 and a 12 month high of $68.72.

FMC (NYSE:FMC) last issued its earnings results on Tuesday, October 29th. The basic materials company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.20. FMC had a net margin of 34.93% and a return on equity of 7.68%. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter last year, the business earned $0.44 earnings per share. The business’s revenue was up 8.5% on a year-over-year basis. Sell-side analysts expect that FMC will post 3.35 earnings per share for the current year.

Insider Activity at FMC

In other FMC news, VP Jacqueline Scanlan sold 4,529 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $59.67, for a total transaction of $270,245.43. Following the completion of the transaction, the vice president now owns 28,649 shares of the company’s stock, valued at approximately $1,709,485.83. This trade represents a 13.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.85% of the stock is currently owned by corporate insiders.

Institutional Trading of FMC

A number of institutional investors and hedge funds have recently bought and sold shares of FMC. GAMMA Investing LLC boosted its position in shares of FMC by 115.0% during the fourth quarter. GAMMA Investing LLC now owns 1,976 shares of the basic materials company’s stock valued at $96,000 after buying an additional 1,057 shares during the last quarter. Inspire Trust Co. N.A. lifted its stake in FMC by 18.7% during the 3rd quarter. Inspire Trust Co. N.A. now owns 60,200 shares of the basic materials company’s stock valued at $3,970,000 after acquiring an additional 9,500 shares during the period. Synovus Financial Corp boosted its holdings in shares of FMC by 82.9% during the 3rd quarter. Synovus Financial Corp now owns 49,892 shares of the basic materials company’s stock valued at $3,290,000 after acquiring an additional 22,612 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of FMC in the third quarter worth approximately $58,000. Finally, Pine Valley Investments Ltd Liability Co purchased a new position in shares of FMC during the third quarter valued at approximately $205,000. 91.86% of the stock is currently owned by institutional investors.

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.