FMC Corporation (FMC) Upgraded to “Hold” by Zacks Investment Research
FMC Corporation (NYSE:FMC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.
According to Zacks, “FMC Corp.’s adjusted earnings and sales for second-quarter 2017 beat the respective Zacks Consensus Estimate. FMC Corp. has outperformed the industry it belongs to over a year. The company should gain from its efforts to expand product portfolio. It is also seeing strong demand in its Lithium unit and is expanding production capacity to meet growing demand for electric vehicles. Moreover, FMC Corp. will benefit from the cost synergies of the Cheminova buyout. The proposed acquisition of a major portion of DuPont's Crop Protection business has also provided a significant growth platform for the company's Agricultural Solutions unit. However, FMC Corp. is faced with challenging agriculture market fundamentals, especially in North America. It is also exposed to headwind from weak prices. The company’s stretched valuation is another concern.”
Other analysts have also issued research reports about the company. TheStreet raised FMC Corporation from a “c+” rating to a “b-” rating in a research report on Thursday, May 4th. Jefferies Group LLC reaffirmed a “buy” rating and set a $84.00 price objective on shares of FMC Corporation in a research report on Thursday, July 6th. Credit Suisse Group set a $85.00 price objective on FMC Corporation and gave the stock a “buy” rating in a research report on Monday, June 26th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $83.00 price objective on shares of FMC Corporation in a research report on Monday, June 5th. Finally, BidaskClub lowered FMC Corporation from a “strong-buy” rating to a “buy” rating in a research report on Friday, July 28th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $81.22.
FMC Corporation (NYSE:FMC) traded up 1.21% on Friday, hitting $84.35. The stock had a trading volume of 1,097,534 shares. The company has a 50-day moving average price of $75.56 and a 200 day moving average price of $68.92. FMC Corporation has a 52-week low of $44.40 and a 52-week high of $84.48. The firm has a market cap of $11.32 billion, a PE ratio of 248.82 and a beta of 1.62.
FMC Corporation (NYSE:FMC) last posted its quarterly earnings data on Tuesday, August 1st. The basic materials company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.01. FMC Corporation had a return on equity of 16.51% and a net margin of 1.58%. The business had revenue of $656.80 million for the quarter, compared to analyst estimates of $614.01 million. During the same quarter in the prior year, the company earned $0.46 earnings per share. The company’s revenue was up 6.7% on a year-over-year basis. Equities analysts forecast that FMC Corporation will post $2.42 earnings per share for the current fiscal year.
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In related news, Director William Howard Powell sold 3,000 shares of the stock in a transaction on Friday, May 12th. The stock was sold at an average price of $72.73, for a total value of $218,190.00. Following the transaction, the director now owns 17,554 shares of the company’s stock, valued at $1,276,702.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Mark Douglas sold 12,697 shares of the stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $75.82, for a total value of $962,686.54. Following the completion of the transaction, the insider now directly owns 73,690 shares in the company, valued at approximately $5,587,175.80. The disclosure for this sale can be found here. Insiders sold 41,489 shares of company stock worth $3,118,310 in the last three months. 1.10% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of FMC. Contravisory Investment Management Inc. increased 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 in the last quarter. Acrospire Investment Management LLC increased 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 in the last quarter. Aviance Capital Management LLC bought a new position in FMC Corporation during the first quarter valued at about $200,000. United Capital Financial Advisers LLC bought a new position in FMC Corporation during the first quarter valued at about $202,000. Finally, Conning Inc. bought a new position in FMC Corporation during the first quarter valued at about $220,000. 90.19% of the stock is currently owned by hedge funds and other institutional investors.
FMC Corporation Company Profile
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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