FMC Co. Declares Quarterly Dividend of $0.58 (NYSE:FMC)

FMC Co. (NYSE:FMC) announced a quarterly dividend on Friday, July 19th, RTT News reports. Investors of record on Monday, September 30th will be given a dividend of 0.58 per share by the basic materials company on Thursday, October 17th. This represents a $2.32 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date of this dividend is Monday, September 30th.

FMC has increased its dividend by an average of 8.8% per year over the last three years. FMC has a payout ratio of 49.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect FMC to earn $4.71 per share next year, which means the company should continue to be able to cover its $2.32 annual dividend with an expected future payout ratio of 49.3%.

FMC Price Performance

Shares of FMC opened at $66.09 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.07 and a debt-to-equity ratio of 0.66. The stock has a market cap of $8.25 billion, a P/E ratio of 7.38, a price-to-earnings-growth ratio of 1.57 and a beta of 0.85. The stock’s 50-day moving average price is $62.37 and its two-hundred day moving average price is $60.77. FMC has a 1 year low of $49.49 and a 1 year high of $68.72.

FMC (NYSE:FMC) last released its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.08. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. FMC had a net margin of 33.97% and a return on equity of 7.52%. FMC’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.50 EPS. On average, equities analysts predict that FMC will post 3.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

FMC has been the topic of several recent analyst reports. JPMorgan Chase & Co. lifted their target price on FMC from $50.00 to $59.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Barclays raised their price objective on shares of FMC from $62.00 to $65.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Redburn Atlantic raised FMC from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 19th. KeyCorp reduced their price objective on FMC from $81.00 to $79.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Finally, Wells Fargo & Company decreased their price objective on FMC from $68.00 to $62.00 and set an “equal weight” rating for the company in a report on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $68.47.

About FMC

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.