FMC Corporation’s (FMC) “Buy” Rating Reaffirmed at Jefferies Group LLC
FMC Corporation (NYSE:FMC)‘s stock had its “buy” rating reaffirmed by equities researchers at Jefferies Group LLC in a research report issued on Friday. They presently have a $100.00 price objective on the basic materials company’s stock. Jefferies Group LLC’s price target would indicate a potential upside of 11.66% from the company’s current price.
A number of other equities analysts have also issued reports on FMC. Credit Suisse Group set a $93.00 target price on shares of FMC Corporation and gave the company a “buy” rating in a research report on Thursday, August 3rd. They noted that the move was a valuation call. Susquehanna Bancshares Inc increased their target price on shares of FMC Corporation from $86.00 to $100.00 and gave the company a “positive” rating in a research report on Tuesday, August 8th. 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. Instinet upgraded shares of FMC Corporation from a “neutral” rating to a “buy” rating and increased their target price for the company from $78.00 to $97.00 in a research report on Wednesday, August 9th. Finally, Robert W. Baird reiterated a “hold” rating and issued a $86.00 target price on shares of FMC Corporation in a research report on Tuesday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. FMC Corporation presently has an average rating of “Buy” and a consensus price target of $85.04.
Shares of FMC Corporation (NYSE:FMC) traded down 0.28% during mid-day trading on Friday, hitting $89.56. 1,362,888 shares of the stock traded hands. The stock has a market cap of $12.01 billion, a P/E ratio of 265.76 and a beta of 1.60. The firm’s 50 day moving average price is $84.62 and its 200-day moving average price is $74.68. FMC Corporation has a 12-month low of $45.77 and a 12-month high of $90.68.
FMC Corporation (NYSE:FMC) last announced its earnings results on Tuesday, August 1st. The basic materials company reported $0.48 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.01. The firm had revenue of $656.80 million during 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%. FMC Corporation’s revenue was up 6.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.46 EPS. Analysts predict that FMC Corporation will post $2.44 earnings per share for the current year.
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In other FMC Corporation news, VP Andrea E. Utecht sold 14,174 shares of the firm’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $84.00, for a total value of $1,190,616.00. Following the completion of the transaction, the vice president now directly owns 131,639 shares in the company, valued at $11,057,676. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.10% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the business. J. Goldman & Company acquired a new position in shares of FMC Corporation in the third quarter worth about $4,239,000. ING Groep acquired a new position in shares of FMC Corporation in the third quarter worth about $1,095,000. Hennessy Advisors Inc. acquired a new position in shares of FMC Corporation in the third quarter worth about $14,695,000. Levin Capital Strategies L.P. acquired a new position in shares of FMC Corporation in the first quarter worth about $1,209,000. Finally, California State Teachers Retirement System boosted its holdings in shares of FMC Corporation by 1.5% in the fourth quarter. California State Teachers Retirement System now owns 249,632 shares of the basic materials company’s stock worth $9,768,000 after buying an additional 3,801 shares during the period. Institutional investors 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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