KeyCorp Reaffirms Buy Rating for FMC Corporation (FMC)
FMC Corporation (NYSE:FMC)‘s stock had its “buy” rating reaffirmed by research analysts at KeyCorp in a note issued to investors on Wednesday. They currently have a $98.00 price target on the basic materials company’s stock. KeyCorp’s target price points to a potential upside of 8.52% from the stock’s current price.
Other research analysts have also issued reports about the stock. Jefferies Group LLC raised their price objective on shares of FMC Corporation from $84.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, July 13th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $83.00 price target on shares of FMC Corporation in a research report on Wednesday, July 12th. Zacks Investment Research raised shares of FMC Corporation from a “hold” rating to a “buy” rating and set a $84.00 price target on the stock in a research report on Monday, July 10th. Credit Suisse Group set a $85.00 price target on FMC Corporation and gave the stock a “buy” rating in a research note on Monday, June 26th. Finally, BidaskClub downgraded FMC Corporation from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $87.49.
Shares of FMC Corporation (NYSE:FMC) traded down 0.13% during midday trading on Wednesday, reaching $90.19. 179,720 shares of the company were exchanged. The stock’s 50-day moving average price is $87.09 and its 200-day moving average price is $77.49. The company has a market capitalization of $12.10 billion, a PE ratio of 267.63 and a beta of 1.61. FMC Corporation has a 52-week low of $45.77 and a 52-week high of $93.44.
FMC Corporation (NYSE:FMC) last posted its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.01. The firm had revenue of $656.80 million for 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 firm’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.46 earnings per share. Analysts anticipate that FMC Corporation will post $2.43 EPS for the current year.
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In related news, VP Andrea E. Utecht sold 14,174 shares of FMC Corporation 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 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 legal filing with the SEC, which is available at the SEC website. 1.10% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of the business. Gierl Augustine Investment Management bought a new position in FMC Corporation in the 4th quarter worth about $0. Contravisory Investment Management Inc. raised its holdings in shares of FMC Corporation by 163.4% during 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 during the last quarter. Acrospire Investment Management LLC raised its holdings in shares of FMC Corporation by 522.9% during 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 during the last quarter. IFP Advisors Inc raised its holdings in shares of FMC Corporation by 11,180.0% during the second quarter. IFP Advisors Inc now owns 2,256 shares of the basic materials company’s stock valued at $104,000 after buying an additional 2,236 shares during the last quarter. Finally, Mizuho Asset Management Co. Ltd. raised its holdings in shares of FMC Corporation by 112.2% during the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,347 shares of the basic materials company’s stock valued at $109,000 after buying an additional 1,241 shares during the last quarter. 90.39% of the stock is 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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