FMC Corporation (FMC) PT Raised to $100.00 at Susquehanna Bancshares Inc
FMC Corporation (NYSE:FMC) had its target price boosted by equities research analysts at Susquehanna Bancshares Inc from $86.00 to $100.00 in a research note issued on Tuesday. The brokerage presently has a “positive” rating on the basic materials company’s stock. Susquehanna Bancshares Inc’s price objective would indicate a potential upside of 18.20% from the company’s current price.
A number of other brokerages have also recently commented on FMC. Jefferies Group LLC reiterated a “buy” rating on shares of FMC Corporation in a research report on Wednesday, May 24th. Royal Bank Of Canada reiterated a “buy” rating and issued a $83.00 target price on shares of FMC Corporation in a research report on Monday, June 5th. Citigroup Inc. increased their target price on shares of FMC Corporation from $62.00 to $75.00 and gave the company a “neutral” rating in a research report on Tuesday, April 11th. BMO Capital Markets increased their target price on shares of FMC Corporation from $75.00 to $80.00 and gave the company a “market perform” rating in a research report on Thursday, August 3rd. Finally, Credit Suisse Group set a $85.00 target price on shares of FMC Corporation and gave the company 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 assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $82.04.
FMC Corporation (NYSE:FMC) traded up 0.06% during mid-day trading on Tuesday, hitting $84.65. 251,097 shares of the stock were exchanged. The stock’s 50 day moving average is $75.56 and its 200 day moving average is $68.92. FMC Corporation has a 52-week low of $44.40 and a 52-week high of $84.78. The stock has a market cap of $11.36 billion, a PE ratio of 249.71 and a beta of 1.62.
FMC Corporation (NYSE:FMC) last issued its earnings results on Tuesday, August 1st. The basic materials company reported $0.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.01. The business had revenue of $656.80 million during the quarter, compared to analysts’ expectations of $614.01 million. FMC Corporation had a net margin of 1.58% and a return on equity of 16.51%. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.46 earnings per share. Analysts forecast that FMC Corporation will post $2.42 EPS for the current fiscal year.
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In other news, Director William Howard Powell sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, May 12th. The shares were sold at an average price of $72.73, for a total value of $218,190.00. Following the completion of 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 legal filing with the SEC, which is available at the SEC website. Also, insider Eric Norris sold 11,358 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $75.75, for a total transaction of $860,368.50. Following the completion of the transaction, the insider now directly owns 28,750 shares of the company’s stock, valued at approximately $2,177,812.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 41,489 shares of company stock valued at $3,118,310. 1.10% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of FMC. BlackRock Inc. raised its position in FMC Corporation by 2,944.3% in the first quarter. BlackRock Inc. now owns 8,723,379 shares of the basic materials company’s stock valued at $607,062,000 after buying an additional 8,436,830 shares during the last quarter. Franklin Resources Inc. raised its position in FMC Corporation by 681.6% in the first quarter. Franklin Resources Inc. now owns 3,373,587 shares of the basic materials company’s stock valued at $136,192,000 after buying an additional 2,941,937 shares during the last quarter. York Capital Management Global Advisors LLC acquired a new position in FMC Corporation during the first quarter valued at approximately $167,824,000. Emerald Acquisition Ltd. acquired a new position in FMC Corporation during the second quarter valued at approximately $89,113,000. Finally, Russell Investments Group Ltd. acquired a new position in FMC Corporation during the fourth quarter valued at approximately $93,531,000. 89.97% of the stock is owned by institutional investors and hedge funds.
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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