FMC (NYSE:FMC) Price Target Increased to $65.00 by Analysts at BMO Capital Markets

FMC (NYSE:FMC) had its target price boosted by BMO Capital Markets from $60.00 to $65.00 in a report published on Friday, Benzinga reports. They currently have a market perform rating on the basic materials company’s stock.

A number of other research firms also recently commented on FMC. JPMorgan Chase & Co. decreased their target price on FMC from $53.00 to $50.00 and set a neutral rating on the stock in a research report on Monday, May 13th. Wells Fargo & Company reduced their target price on FMC from $68.00 to $62.00 and set an equal weight rating on the stock in a research report on Tuesday, July 16th. StockNews.com upgraded FMC from a sell rating to a hold rating in a research report on Wednesday, May 8th. Barclays initiated coverage on FMC in a research note on Wednesday, June 26th. They set an equal weight rating and a $62.00 price target for the company. Finally, Royal Bank of Canada increased their target price on FMC from $65.00 to $81.00 and gave the company an outperform rating in a research note on Friday, May 10th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $67.88.

FMC Stock Down 0.1 %

FMC traded down $0.08 during trading hours on Friday, hitting $62.11. 926,396 shares of the company’s stock were exchanged, compared to its average volume of 1,979,881. FMC has a 12-month low of $49.49 and a 12-month high of $92.24. The firm has a 50 day moving average of $57.75 and a 200 day moving average of $58.80. The firm has a market cap of $7.75 billion, a P/E ratio of 6.94, a price-to-earnings-growth ratio of 1.65 and a beta of 0.84. The company has a current ratio of 1.48, a quick ratio of 1.02 and a debt-to-equity ratio of 0.66.

FMC (NYSE:FMC) last posted its earnings results on Wednesday, July 31st. The basic materials company reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.08. FMC had a net margin of 33.97% and a return on equity of 7.52%. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period last year, the firm posted $0.50 EPS. The company’s revenue was up 2.4% on a year-over-year basis. Analysts predict that FMC will post 3.17 EPS for the current fiscal year.

FMC Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Monday, September 30th will be given a $0.58 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.74%. FMC’s dividend payout ratio is currently 25.89%.

Institutional Investors Weigh In On FMC

Hedge funds have recently added to or reduced their stakes in the stock. Riverview Trust Co purchased a new stake in shares of FMC in the 1st quarter worth $27,000. Financial Connections Group Inc. purchased a new stake in shares of FMC during the 4th quarter valued at about $31,000. Benjamin F. Edwards & Company Inc. raised its position in FMC by 114.3% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 568 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 303 shares during the period. LRI Investments LLC purchased a new stake in FMC in the 1st quarter worth about $39,000. Finally, UMB Bank n.a. raised its position in FMC by 56.9% in the 2nd quarter. UMB Bank n.a. now owns 678 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 246 shares during the period. 91.86% of the stock is currently owned by hedge funds and other institutional investors.

FMC Company Profile

FMC Corporation, an agricultural sciences company, provides crop protection, plant health, and professional pest and turf management products. It develops, markets, and sells crop protection chemicals that includes insecticides, herbicides, and fungicides; and biologicals, crop nutrition, and seed treatment products, which are used in agriculture to enhance crop yield and quality by controlling a range of insects, weeds, and diseases, as well as in non-agricultural markets for pest control.