FMC (NYSE:FMC) Price Target Raised to $61.00

FMC (NYSE:FMC) had its price objective lifted by Citigroup from $55.00 to $61.00 in a report released on Wednesday morning,Benzinga reports. They currently have a neutral rating on the basic materials company’s stock.

A number of other analysts have also weighed in on FMC. Barclays raised shares of FMC from an “equal weight” rating to an “overweight” rating and set a $65.00 target price on the stock in a report on Tuesday, January 21st. KeyCorp cut their price target on shares of FMC from $79.00 to $69.00 and set an “overweight” rating for the company in a research note on Thursday, January 2nd. Mizuho cut their price target on shares of FMC from $70.00 to $55.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Royal Bank of Canada boosted their price target on shares of FMC from $78.00 to $81.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Finally, UBS Group cut their price target on shares of FMC from $75.00 to $66.00 and set a “buy” rating for the company in a research note on Friday, December 20th. Ten equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, FMC currently has an average rating of “Hold” and an average price target of $63.75.

FMC Stock Performance

NYSE FMC opened at $56.39 on Wednesday. The company’s 50 day moving average is $53.76 and its 200-day moving average is $58.97. FMC has a 12-month low of $47.71 and a 12-month high of $68.72. The company has a quick ratio of 1.09, a current ratio of 1.48 and a debt-to-equity ratio of 0.65. The firm has a market cap of $7.04 billion, a P/E ratio of 4.85, a price-to-earnings-growth ratio of 1.15 and a beta of 0.83.

FMC (NYSE:FMC) last posted its earnings results on Tuesday, October 29th. The basic materials company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.20. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.04 billion. FMC had a net margin of 34.93% and a return on equity of 7.68%. FMC’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.44 EPS. Sell-side analysts predict that FMC will post 3.34 earnings per share for the current year.

FMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Tuesday, December 31st were issued a $0.58 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $2.32 annualized dividend and a yield of 4.11%. FMC’s dividend payout ratio (DPR) is presently 19.97%.

Insiders Place Their Bets

In related news, EVP Michael Finian Reilly sold 2,958 shares of the stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $55.25, for a total value of $163,429.50. Following the completion of the transaction, the executive vice president now directly owns 25,468 shares in the company, valued at $1,407,107. This trade represents a 10.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 completion of the transaction, the vice president now owns 28,649 shares of the company’s stock, valued at approximately $1,709,485.83. The trade was a 13.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 7,491 shares of company stock worth $433,898. 0.85% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Asset Management One Co. Ltd. increased its stake in shares of FMC by 21.6% in the 4th quarter. Asset Management One Co. Ltd. now owns 3,416 shares of the basic materials company’s stock worth $167,000 after acquiring an additional 607 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of FMC by 8.5% in the 4th quarter. Van ECK Associates Corp now owns 589,054 shares of the basic materials company’s stock worth $28,634,000 after acquiring an additional 46,137 shares in the last quarter. International Private Wealth Advisors LLC increased its stake in FMC by 3.8% during the 4th quarter. International Private Wealth Advisors LLC now owns 5,604 shares of the basic materials company’s stock valued at $272,000 after purchasing an additional 205 shares in the last quarter. WCM Investment Management LLC raised its holdings in FMC by 2.3% in the fourth quarter. WCM Investment Management LLC now owns 16,210 shares of the basic materials company’s stock worth $785,000 after buying an additional 358 shares during the last quarter. Finally, Empowered Funds LLC raised its holdings in FMC by 103.0% in the fourth quarter. Empowered Funds LLC now owns 38,560 shares of the basic materials company’s stock worth $1,874,000 after buying an additional 19,562 shares during the last quarter. 91.86% of the stock is currently owned by institutional investors.

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.