FMC Corporation (FMC) Given Consensus Rating of “Buy” by Analysts
Shares of FMC Corporation (NYSE:FMC) have been given a consensus recommendation of “Buy” by the twenty-one analysts that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $86.05.
Several research firms have weighed in on FMC. Bank of America Corporation raised FMC Corporation from an “underperform” rating to a “buy” rating and raised their price target for the company from $66.00 to $103.00 in a report on Thursday, August 31st. Zacks Investment Research raised FMC Corporation from a “hold” rating to a “buy” rating and set a $84.00 price target on the stock in a report on Monday, July 10th. Seaport Global Securities cut FMC Corporation from a “buy” rating to a “neutral” rating and lowered their price target for the company from $82.00 to $80.00 in a report on Tuesday, July 18th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $84.00 price target on shares of FMC Corporation in a report on Thursday, July 6th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $83.00 price target on shares of FMC Corporation in a report on Wednesday, July 12th.
FMC Corporation (NYSE:FMC) opened at 89.56 on Friday. The firm has a market cap of $12.01 billion, a P/E ratio of 265.76 and a beta of 1.60. FMC Corporation has a 52 week low of $45.77 and a 52 week high of $90.68. The firm’s 50-day moving average price is $84.62 and its 200 day moving average price is $74.68.
FMC Corporation (NYSE:FMC) last issued its earnings results on Tuesday, August 1st. The basic materials company reported $0.48 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $614.01 million. During the same quarter last year, the company earned $0.46 EPS. The firm’s revenue was up 6.7% compared to the same quarter last year. Equities analysts forecast that FMC Corporation will post $2.44 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 19th. Shareholders of record on Friday, September 29th will be issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 0.74%. The ex-dividend date is Thursday, September 28th. FMC Corporation’s dividend payout ratio is presently 188.58%.
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In other news, VP Andrea E. Utecht sold 14,174 shares of the company’s stock in a transaction dated 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 transaction, the vice president now owns 131,639 shares of the company’s stock, valued at $11,057,676. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 1.10% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Sandhill Capital Partners LLC boosted its stake in FMC Corporation by 4.0% during the second quarter. Sandhill Capital Partners LLC now owns 244,848 shares of the basic materials company’s stock valued at $17,886,000 after buying an additional 9,407 shares during the last quarter. Cibc World Markets Corp boosted its stake in FMC Corporation by 35.5% during the second quarter. Cibc World Markets Corp now owns 18,936 shares of the basic materials company’s stock valued at $1,383,000 after buying an additional 4,961 shares during the last quarter. Hanseatic Management Services Inc. boosted its stake in FMC Corporation by 13.3% during the second quarter. Hanseatic Management Services Inc. now owns 14,350 shares of the basic materials company’s stock valued at $1,048,000 after buying an additional 1,688 shares during the last quarter. New York State Common Retirement Fund boosted its stake in FMC Corporation by 7.1% during the second quarter. New York State Common Retirement Fund now owns 327,500 shares of the basic materials company’s stock valued at $23,924,000 after buying an additional 21,799 shares during the last quarter. Finally, Dorsey Wright & Associates bought a new position in FMC Corporation during the second quarter valued at approximately $1,667,000. 90.45% of the stock is owned by 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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