FMC Corporation (FMC) Upgraded to “Buy” by Nomura
FMC Corporation (NYSE:FMC) was upgraded by analysts at Nomura from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Friday, MarketBeat.com reports. The firm presently has a $97.00 price target on the basic materials company’s stock, up from their previous price target of $78.00. Nomura’s target price points to a potential upside of 15.00% from the company’s current price.
Several other research firms have also issued reports on FMC. Jefferies Group LLC restated a “buy” rating on shares of FMC Corporation in a research report on Wednesday, May 24th. Royal Bank Of Canada restated a “buy” rating and issued a $83.00 price target on shares of FMC Corporation in a research report on Monday, June 5th. Citigroup Inc. lifted their price target on shares of FMC Corporation from $62.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 11th. BMO Capital Markets lifted their price target on shares of FMC Corporation from $75.00 to $80.00 and gave the stock a “market perform” rating in a research report on Thursday. Finally, Credit Suisse Group set a $85.00 price target on shares of FMC Corporation and gave the stock a “buy” rating in a research report on Monday, June 26th. One analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have given a buy rating to the company’s stock. FMC Corporation has a consensus rating of “Buy” and a consensus target price of $81.22.
FMC Corporation (NYSE FMC) traded up 1.21% during midday trading on Friday, reaching $84.35. The company had a trading volume of 1,097,534 shares. The company has a market capitalization of $11.32 billion, a P/E ratio of 248.82 and a beta of 1.62. FMC Corporation has a 52-week low of $44.40 and a 52-week high of $84.48. The company’s 50 day moving average is $75.56 and its 200-day moving average is $68.92.
FMC Corporation (NYSE:FMC) last posted its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.01. The firm had revenue of $656.80 million for the quarter, compared to analyst estimates of $614.01 million. FMC Corporation had a net margin of 1.58% and a return on equity of 16.51%. The firm’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.46 earnings per share. Equities analysts expect that FMC Corporation will post $2.42 earnings per share for the current fiscal year.
In other FMC Corporation news, VP Andrea E. Utecht sold 14,434 shares of FMC Corporation stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $74.62, for a total transaction of $1,077,065.08. Following the transaction, the vice president now directly owns 131,899 shares in the company, valued at approximately $9,842,303.38. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director William Howard Powell sold 3,000 shares of FMC Corporation stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $72.73, for a total transaction of $218,190.00. Following the transaction, the director now owns 17,554 shares in the company, valued at $1,276,702.42. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 41,489 shares of company stock worth $3,118,310. Corporate insiders own 1.10% of the company’s stock.
A number of institutional investors have recently bought and sold shares of FMC. Contravisory Investment Management Inc. boosted its position in FMC Corporation by 163.4% in the first quarter. Contravisory Investment Management Inc. now owns 1,520 shares of the basic materials company’s stock valued at $106,000 after buying an additional 943 shares during the last quarter. Acrospire Investment Management LLC boosted its position in FMC Corporation by 522.9% in the first quarter. Acrospire Investment Management LLC now owns 1,906 shares of the basic materials company’s stock valued at $133,000 after buying an additional 1,600 shares during the last quarter. Aviance Capital Management LLC purchased a new position in FMC Corporation during the first quarter valued at $200,000. United Capital Financial Advisers LLC purchased a new position in FMC Corporation during the first quarter valued at $202,000. Finally, Conning Inc. purchased a new position in FMC Corporation during the first quarter valued at $220,000. Hedge funds and other institutional investors own 90.19% of the company’s stock.
About FMC Corporation
FMC Corporation is a diversified chemical company serving agricultural, consumer and industrial markets. The Company operates in three business segments: FMC Agricultural Solutions, FMC Health and Nutrition, and FMC Lithium. As of December 31, 2016, the FMC Agricultural Solutions segment developed, marketed and sold three classes of crop protection chemicals: insecticides, herbicides and fungicides.
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