FMC Corporation (FMC) Receives Consensus Rating of “Buy” from Brokerages
Shares of FMC Corporation (NYSE:FMC) have been assigned a consensus rating of “Buy” from the twenty-three ratings firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $88.83.
Several equities analysts have recently commented on FMC shares. Credit Suisse Group set a $85.00 price objective on FMC Corporation and gave the company a “buy” rating in a research report on Monday, June 26th. Jefferies Group LLC reiterated a “buy” rating and set a $84.00 price objective on shares of FMC Corporation in a research report on Thursday, July 6th. Zacks Investment Research upgraded FMC Corporation from a “hold” rating to a “buy” rating and set a $84.00 price objective on the stock in a research report on Monday, July 10th. Royal Bank Of Canada reiterated a “buy” rating and set a $83.00 price objective on shares of FMC Corporation in a research report on Wednesday, July 12th. Finally, Seaport Global Securities lowered FMC Corporation from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $82.00 to $80.00 in a research report on Tuesday, July 18th.
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In other news, VP Andrea E. Utecht sold 14,174 shares of the firm’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 transaction, the vice president now owns 131,639 shares in the company, valued at approximately $11,057,676. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.10% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in FMC. Aviance Capital Management LLC purchased a new position in shares of FMC Corporation in the 1st quarter valued at approximately $200,000. United Capital Financial Advisers LLC purchased a new position in shares of FMC Corporation in the 1st quarter valued at approximately $202,000. RiverPoint Capital Management LLC lifted its stake in shares of FMC Corporation by 4.4% in the 1st quarter. RiverPoint Capital Management LLC now owns 4,825 shares of the basic materials company’s stock valued at $336,000 after purchasing an additional 205 shares during the period. Raymond James Financial Services Advisors Inc. lifted its stake in shares of FMC Corporation by 4.4% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 5,048 shares of the basic materials company’s stock valued at $351,000 after purchasing an additional 214 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. purchased a new position in shares of FMC Corporation in the 1st quarter valued at approximately $431,000. Institutional investors own 90.39% of the company’s stock.
Shares of FMC Corporation (FMC) opened at 92.43 on Thursday. FMC Corporation has a 12-month low of $45.77 and a 12-month high of $93.44. The stock’s 50 day moving average price is $88.38 and its 200 day moving average price is $78.68. The company has a market capitalization of $12.40 billion, a PE ratio of 274.27 and a beta of 1.61.
FMC Corporation (NYSE:FMC) last announced its quarterly earnings data 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 firm had revenue of $656.80 million for the quarter, compared to analyst estimates 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 in the prior year, the company earned $0.46 EPS. On average, equities research analysts forecast that FMC Corporation will post $2.43 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 19th. Shareholders of record on Friday, September 29th will be issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 0.71%. The ex-dividend date is Thursday, September 28th. FMC Corporation’s dividend payout ratio (DPR) is currently 188.58%.
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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