FMC (NYSE:FMC) had its price target hoisted by SunTrust Banks to $98.00 in a research report released on Thursday, The Fly reports. SunTrust Banks currently has a buy rating on the basic materials company’s stock.
FMC has been the topic of several other reports. Loop Capital set a $102.00 target price on FMC and gave the stock a buy rating in a report on Friday, April 12th. Royal Bank of Canada downgraded FMC from an outperform rating to a sector perform rating and cut their target price for the stock from $100.00 to $87.00 in a report on Thursday, April 18th. They noted that the move was a valuation call. KeyCorp cut their target price on FMC from $105.00 to $95.00 and set an overweight rating on the stock in a report on Friday, April 12th. Citigroup reaffirmed a buy rating and set a $93.00 target price (up from $91.00) on shares of FMC in a report on Thursday, June 13th. Finally, Morgan Stanley initiated coverage on FMC in a report on Monday, May 20th. They set an equal weight rating and a $82.00 target price on the stock. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. FMC has an average rating of Buy and a consensus target price of $95.62.
Shares of NYSE FMC traded down $2.99 during mid-day trading on Thursday, hitting $82.93. 3,217 shares of the stock traded hands, compared to its average volume of 873,219. The company has a current ratio of 1.27, a quick ratio of 0.92 and a debt-to-equity ratio of 0.77. FMC has a twelve month low of $69.36 and a twelve month high of $92.76. The firm has a market capitalization of $11.21 billion, a P/E ratio of 13.18, a PEG ratio of 1.38 and a beta of 1.49. The firm’s 50 day simple moving average is $83.53.
FMC (NYSE:FMC) last announced its earnings results on Tuesday, July 30th. The basic materials company reported $1.66 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.63 by $0.03. The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.20 billion. FMC had a return on equity of 27.33% and a net margin of 10.65%. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the business earned $1.78 EPS. On average, equities analysts anticipate that FMC will post 5.79 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Monday, September 30th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.93%. The ex-dividend date of this dividend is Friday, September 27th. FMC’s dividend payout ratio (DPR) is presently 25.44%.
In related news, insider Mark Douglas sold 18,500 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $75.12, for a total value of $1,389,720.00. Following the completion of the sale, the insider now directly owns 47,594 shares of the company’s stock, valued at approximately $3,575,261.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Nicholas Pfeiffer sold 2,446 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $80.67, for a total value of $197,318.82. The disclosure for this sale can be found here. Over the last three months, insiders sold 53,946 shares of company stock valued at $3,999,009. Corporate insiders own 1.50% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in FMC. Huntington National Bank boosted its stake in FMC by 754.1% during the 2nd quarter. Huntington National Bank now owns 316 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 279 shares during the last quarter. Paragon Capital Management LLC acquired a new position in FMC during the 1st quarter valued at about $31,000. Squar Milner Financial Services LLC boosted its stake in FMC by 51.4% during the 2nd quarter. Squar Milner Financial Services LLC now owns 383 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 130 shares during the last quarter. Global Retirement Partners LLC boosted its stake in FMC by 128.6% during the 1st quarter. Global Retirement Partners LLC now owns 455 shares of the basic materials company’s stock valued at $35,000 after purchasing an additional 256 shares during the last quarter. Finally, Pennsylvania Trust Co acquired a new position in FMC during the 1st quarter valued at about $48,000. Institutional investors and hedge funds own 89.77% of the company’s stock.
FMC Corporation, a diversified chemical company, provides solutions, applications, and products for the agricultural, consumer, and industrial markets worldwide. The company operates in two segments, FMC Agricultural Solutions and FMC Lithium. The FMC Agricultural Solutions segment develops, manufactures, markets, and sells crop protection chemicals, including insecticides, herbicides, and fungicides that 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.
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