FMC (FMC) Rating Increased to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of FMC (NYSE:FMC) from a hold rating to a buy rating in a research note published on Friday morning. Zacks Investment Research currently has $89.00 target price on the basic materials company’s stock.

According to Zacks, “FMC Corp. recently provided an upbeat outlook for the first quarter and full-year 2018. The company sees adjusted earnings for both periods to exceed the top end of its prior guidance ranges. FMC Corp. is seeing strong demand in its Lithium unit and is expanding production capacity to meet growing demand for electric vehicles. The acquisition of a major portion of DuPont's Crop Protection business has also provided a significant growth platform for the company's Agricultural Solutions unit. The company should also gain from its efforts to expand product portfolio.”

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Other analysts also recently issued reports about the company. SunTrust Banks reissued a buy rating and set a $98.00 price objective on shares of FMC in a research report on Thursday, February 15th. Seaport Global Securities raised FMC from a neutral rating to a buy rating in a research report on Thursday, February 15th. Credit Suisse Group set a $111.00 price objective on FMC and gave the stock a buy rating in a research report on Tuesday, January 16th. Loop Capital set a $106.00 price objective on FMC and gave the stock a buy rating in a research report on Monday, December 11th. Finally, Royal Bank of Canada reissued a buy rating on shares of FMC in a research report on Wednesday, February 14th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. FMC currently has an average rating of Buy and a consensus target price of $97.74.

Shares of NYSE:FMC opened at $78.13 on Friday. The company has a debt-to-equity ratio of 1.11, a current ratio of 1.65 and a quick ratio of 1.20. The stock has a market cap of $10,495.28, a P/E ratio of 28.83, a price-to-earnings-growth ratio of 1.22 and a beta of 1.63. FMC has a 12-month low of $69.93 and a 12-month high of $98.70.

FMC (NYSE:FMC) last issued its quarterly earnings data on Monday, February 12th. The basic materials company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.05. The firm had revenue of $979.60 million during the quarter, compared to the consensus estimate of $993.57 million. FMC had a return on equity of 16.82% and a net margin of 18.61%. The company’s quarterly revenue was up 42.3% on a year-over-year basis. During the same period last year, the company earned $0.88 EPS. sell-side analysts forecast that FMC will post 5.71 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 19th. Shareholders of record on Thursday, March 29th will be given a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend is Wednesday, March 28th. FMC’s dividend payout ratio is currently 24.35%.

In other news, insider Mark Douglas sold 10,698 shares of the business’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $84.41, for a total transaction of $903,018.18. Following the completion of the transaction, the insider now directly owns 63,191 shares of the company’s stock, valued at $5,333,952.31. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 1.20% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Anderson Hoagland & Co. acquired a new position in shares of FMC during the fourth quarter worth about $746,000. National Pension Service grew its position in shares of FMC by 41,010.3% during the fourth quarter. National Pension Service now owns 147,175 shares of the basic materials company’s stock worth $13,932,000 after buying an additional 146,817 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. grew its position in shares of FMC by 647.4% during the fourth quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,526,744 shares of the basic materials company’s stock worth $144,522,000 after buying an additional 1,322,470 shares in the last quarter. Candriam Luxembourg S.C.A. grew its position in shares of FMC by 15.6% during the fourth quarter. Candriam Luxembourg S.C.A. now owns 9,919 shares of the basic materials company’s stock worth $939,000 after buying an additional 1,335 shares in the last quarter. Finally, Synovus Financial Corp grew its position in shares of FMC by 21.3% during the fourth quarter. Synovus Financial Corp now owns 41,219 shares of the basic materials company’s stock worth $3,903,000 after buying an additional 7,232 shares in the last quarter. 90.53% of the stock is owned by institutional investors and hedge funds.

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About FMC

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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