UBS Group Issues Pessimistic Forecast for FMC (NYSE:FMC) Stock Price

FMC (NYSE:FMC) had its price target reduced by UBS Group from $75.00 to $66.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the basic materials company’s stock. UBS Group’s price objective would indicate a potential upside of 31.61% from the company’s previous close.

A number of other research analysts have also weighed in on FMC. Mizuho lifted their price objective on shares of FMC from $64.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Citigroup decreased their price objective on FMC from $70.00 to $55.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Royal Bank of Canada raised their target price on FMC from $78.00 to $81.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, ten have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $65.69.

FMC Price Performance

FMC stock opened at $50.15 on Friday. The business’s 50 day simple moving average is $58.69 and its 200 day simple moving average is $59.82. FMC has a 12 month low of $47.73 and a 12 month high of $68.72. The company has a market cap of $6.26 billion, a price-to-earnings ratio of 4.32, a PEG ratio of 1.48 and a beta of 0.80. The company has a current ratio of 1.48, a quick ratio of 1.09 and a debt-to-equity ratio of 0.65.

FMC (NYSE:FMC) last issued its quarterly earnings results on Tuesday, October 29th. The basic materials company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.20. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.04 billion. FMC had a return on equity of 7.68% and a net margin of 34.93%. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.44 EPS. Sell-side analysts forecast that FMC will post 3.35 EPS for the current year.

Insider Activity

In other news, VP Jacqueline Scanlan sold 4,529 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $59.67, for a total transaction of $270,245.43. Following the transaction, the vice president now directly owns 28,649 shares in the company, valued at approximately $1,709,485.83. This represents a 13.65 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.85% of the company’s stock.

Institutional Investors Weigh In On FMC

Institutional investors have recently made changes to their positions in the business. State Street Corp lifted its stake in FMC by 27.3% in the third quarter. State Street Corp now owns 6,271,760 shares of the basic materials company’s stock worth $417,151,000 after purchasing an additional 1,343,615 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in FMC by 1.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,136,344 shares of the basic materials company’s stock valued at $74,931,000 after acquiring an additional 20,350 shares during the period. AQR Capital Management LLC grew its position in FMC by 317.7% during the 2nd quarter. AQR Capital Management LLC now owns 1,099,389 shares of the basic materials company’s stock worth $63,160,000 after acquiring an additional 836,179 shares during the last quarter. Bank of New York Mellon Corp grew its position in FMC by 2.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 858,129 shares of the basic materials company’s stock worth $49,385,000 after acquiring an additional 17,381 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in FMC by 9.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 721,879 shares of the basic materials company’s stock worth $41,543,000 after purchasing an additional 64,055 shares during the period. Hedge funds and other institutional investors own 91.86% of the company’s stock.

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.