FMC (NYSE:FMC) has been given a $106.00 price objective by equities researchers at Credit Suisse Group in a research note issued on Wednesday. The brokerage presently has an “outperform” rating on the basic materials company’s stock. Credit Suisse Group’s target price suggests a potential upside of 24.33% from the stock’s previous close. The analysts noted that the move was a valuation call.
A number of other equities analysts have also weighed in on FMC. TheStreet lowered shares of FMC from a “b” rating to a “c” rating in a research report on Monday. Citigroup upgraded shares of FMC from a “neutral” rating to a “buy” rating and set a $95.00 target price for the company in a research report on Wednesday. Royal Bank of Canada reiterated a “buy” rating on shares of FMC in a research report on Wednesday. BMO Capital Markets increased their target price 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. Finally, KeyCorp reiterated a “buy” rating and set a $112.00 target price on shares of FMC in a research report on Monday, December 4th. Seven investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. FMC presently has an average rating of “Buy” and a consensus target price of $97.37.
FMC (NYSE:FMC) traded up $3.40 during midday trading on Wednesday, reaching $85.26. 2,156,996 shares of the company were exchanged, compared to its average volume of 1,480,000. FMC has a 1-year low of $57.29 and a 1-year high of $98.70. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.19 and a quick ratio of 1.81. The stock has a market capitalization of $11,450.00, a P/E ratio of -133.22, a PEG ratio of 1.41 and a beta of 1.52.
In other news, insider Nicholas Pfeiffer sold 375 shares of the firm’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $90.33, for a total value of $33,873.75. Following the completion of the transaction, 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 Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in FMC. Oakbrook Investments LLC boosted its position in shares of FMC by 27.9% in the third quarter. Oakbrook Investments LLC now owns 13,290 shares of the basic materials company’s stock valued at $1,187,000 after acquiring an additional 2,900 shares during the period. Nationwide Fund Advisors boosted its position in shares of FMC by 12.0% in the third quarter. Nationwide Fund Advisors now owns 278,929 shares of the basic materials company’s stock valued at $24,911,000 after acquiring an additional 29,858 shares during the period. Aperio Group LLC lifted its position in FMC by 6.4% during the third quarter. Aperio Group LLC now owns 49,289 shares of the basic materials company’s stock valued at $4,402,000 after purchasing an additional 2,960 shares during the last quarter. Canada Pension Plan Investment Board lifted its position in FMC by 4.2% during the third quarter. Canada Pension Plan Investment Board now owns 228,373 shares of the basic materials company’s stock valued at $20,396,000 after purchasing an additional 9,303 shares during the last quarter. Finally, Gabelli Funds LLC lifted 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 valued at $3,090,000 after purchasing an additional 600 shares during the last quarter. Institutional investors own 90.81% of the company’s stock.
FMC 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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