FMC (FMC) Rating Reiterated by Credit Suisse Group
FMC (NYSE:FMC)‘s stock had its “outperform” rating reaffirmed by investment analysts at Credit Suisse Group in a research report issued on Tuesday, The Fly reports. They currently have a $111.00 price target on the basic materials company’s stock, up from their prior price target of $102.00. Credit Suisse Group’s price objective points to a potential upside of 13.40% from the company’s previous close.
A number of other equities analysts have also recently weighed in on FMC. Zacks Investment Research cut shares of FMC from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 4th. BMO Capital Markets upped their price objective on shares of FMC from $80.00 to $90.00 and gave the stock a “market perform” rating in a research report on Wednesday, November 8th. They noted that the move was a valuation call. Loop Capital began coverage on shares of FMC in a research report on Thursday, September 28th. They set a “buy” rating and a $102.00 price objective for the company. KeyCorp restated a “buy” rating and set a $112.00 price objective on shares of FMC in a research report on Monday, December 4th. Finally, Piper Jaffray Companies set a $85.00 price objective on shares of FMC and gave the stock a “hold” rating in a research report on Friday, October 6th. Eight research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $95.25.
FMC (NYSE:FMC) opened at $97.88 on Tuesday. The company has a current ratio of 2.19, a quick ratio of 1.81 and a debt-to-equity ratio of 0.70. The firm has a market cap of $13,141.54, a price-to-earnings ratio of 575.76, a price-to-earnings-growth ratio of 1.63 and a beta of 1.61. FMC has a 12-month low of $56.53 and a 12-month high of $98.70.
In related news, insider Nicholas Pfeiffer sold 375 shares of the firm’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $90.33, for a total transaction of $33,873.75. Following the completion of the sale, the insider now directly owns 6,856 shares in the company, valued at $619,302.48. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.10% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the stock. Great West Life Assurance Co. Can increased its position in FMC by 0.6% during the third quarter. Great West Life Assurance Co. Can now owns 91,917 shares of the basic materials company’s stock worth $8,077,000 after purchasing an additional 572 shares during the last quarter. Gabelli Funds LLC increased its position in FMC by 1.8% during the third quarter. Gabelli Funds LLC now owns 34,600 shares of the basic materials company’s stock worth $3,090,000 after purchasing an additional 600 shares during the last quarter. Hanseatic Management Services Inc. increased its position in FMC by 13.3% during the second quarter. Hanseatic Management Services Inc. now owns 14,350 shares of the basic materials company’s stock worth $1,048,000 after purchasing an additional 1,688 shares during the last quarter. Advisor Partners LLC acquired a new stake in FMC during the third quarter worth about $216,000. Finally, Achmea Investment Management B.V. acquired a new stake in FMC during the third quarter worth about $246,000. Hedge funds and other institutional investors own 89.30% of the company’s stock.
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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