KeyCorp Cuts FMC (NYSE:FMC) Price Target to $69.00

FMC (NYSE:FMC) had its price target lowered by KeyCorp from $79.00 to $69.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the basic materials company’s stock.

Several other research analysts also recently commented on FMC. Citigroup reduced their target price on FMC from $70.00 to $55.00 and set a “neutral” rating for the company in a research note on Wednesday, December 18th. Mizuho lifted their price objective on shares of FMC from $64.00 to $70.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Royal Bank of Canada increased their price objective on shares of FMC from $78.00 to $81.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, UBS Group reduced their target price on shares of FMC from $75.00 to $66.00 and set a “buy” rating for the company in a report on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, FMC has a consensus rating of “Hold” and a consensus price target of $64.17.

FMC Stock Performance

NYSE FMC opened at $48.53 on Thursday. The firm has a market capitalization of $6.06 billion, a P/E ratio of 4.18, a price-to-earnings-growth ratio of 1.48 and a beta of 0.80. The company has a current ratio of 1.48, a quick ratio of 1.09 and a debt-to-equity ratio of 0.65. The firm’s fifty day moving average price is $56.04 and its two-hundred day moving average price is $59.32. FMC has a 1 year low of $47.71 and a 1 year 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, beating analysts’ consensus estimates of $0.49 by $0.20. FMC had a net margin of 34.93% and a return on equity of 7.68%. The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the prior year, the firm earned $0.44 EPS. FMC’s quarterly revenue was up 8.5% compared to the same quarter last year. As a group, research analysts anticipate that FMC will post 3.35 EPS for the current year.

FMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.58 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $2.32 dividend on an annualized basis and a yield of 4.78%. FMC’s dividend payout ratio (DPR) is presently 19.97%.

Insider Buying and Selling at FMC

In other FMC news, VP Jacqueline Scanlan sold 4,529 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $59.67, for a total transaction of $270,245.43. Following the sale, the vice president now directly owns 28,649 shares in the company, valued at $1,709,485.83. This represents a 13.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.85% of the company’s stock.

Institutional Trading of FMC

A number of institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC raised its position in 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 purchasing an additional 1,057 shares in the last quarter. Inspire Trust Co. N.A. raised its holdings in shares of 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 worth $3,970,000 after buying an additional 9,500 shares in the last quarter. Synovus Financial Corp lifted its position 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 worth $3,290,000 after buying an additional 22,612 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in FMC in the third quarter valued at about $58,000. Finally, Pine Valley Investments Ltd Liability Co bought a new position in FMC in the third quarter valued at about $205,000. Institutional investors own 91.86% of the company’s stock.

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.