FMC Corporation (FMC) Raised to “Buy” at Bank of America Corporation
FMC Corporation (NYSE:FMC) was upgraded by Bank of America Corporation from an “underperform” rating to a “buy” rating in a research report issued on Thursday, Marketbeat reports.
Several other equities research analysts also recently commented on FMC. BMO Capital Markets reiterated a “hold” rating and set a $75.00 target price on shares of FMC Corporation in a report on Thursday, May 4th. TheStreet upgraded FMC Corporation from a “c+” rating to a “b-” rating in a report on Thursday, May 4th. Credit Suisse Group set a $85.00 target price on FMC Corporation and gave the company a “buy” rating in a report on Thursday, May 4th. Jefferies Group LLC reiterated a “buy” rating on shares of FMC Corporation in a report on Friday, May 5th. Finally, Nomura reiterated a “hold” rating and set a $78.00 target price on shares of FMC Corporation in a report on Monday, May 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $83.40.
FMC Corporation (NYSE:FMC) traded up 2.68% on Thursday, reaching $86.74. 1,424,877 shares of the company’s stock were exchanged. The stock has a market cap of $11.63 billion, a price-to-earnings ratio of 257.39 and a beta of 1.62. FMC Corporation has a one year low of $44.40 and a one year high of $88.19. The firm has a 50 day moving average of $80.08 and a 200-day moving average of $71.74.
FMC Corporation (NYSE:FMC) last announced its earnings results on Tuesday, August 1st. The basic materials company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.47 by $0.01. The business had revenue of $656.80 million for the quarter, compared to the consensus estimate of $614.01 million. FMC Corporation had a return on equity of 16.51% and a net margin of 1.58%. The company’s revenue was up 6.7% on a year-over-year basis. During the same period last year, the business posted $0.46 EPS. Equities research analysts forecast that FMC Corporation will post $2.44 EPS for the current fiscal year.
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In other news, VP Andrea E. Utecht sold 14,174 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $84.00, for a total value of $1,190,616.00. Following the completion of the sale, the vice president now directly owns 131,639 shares in the company, valued at approximately $11,057,676. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Mark Douglas sold 12,697 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 73,690 shares of the company’s stock, valued at $5,587,175.80. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of FMC. Mn Services Vermogensbeheer B.V. increased its stake in shares of FMC Corporation by 4.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,569 shares of the basic materials company’s stock worth $232,000 after buying an additional 141 shares during the period. Korea Investment CORP purchased a new stake in shares of FMC Corporation during the first quarter worth $988,000. ProShare Advisors LLC increased its stake in shares of FMC Corporation by 38.2% in the first quarter. ProShare Advisors LLC now owns 53,370 shares of the basic materials company’s stock worth $3,714,000 after buying an additional 14,752 shares during the period. Conning Inc. purchased a new stake in shares of FMC Corporation during the first quarter worth $220,000. Finally, Sumitomo Mitsui Asset Management Company LTD increased its stake in shares of FMC Corporation by 13.0% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 11,461 shares of the basic materials company’s stock worth $797,000 after buying an additional 1,323 shares during the period. Institutional investors and hedge funds own 90.45% 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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