FMC (NYSE:FMC) Price Target Raised to $65.00 at BMO Capital Markets

FMC (NYSE:FMC) had its price target increased by BMO Capital Markets from $60.00 to $65.00 in a research report sent to investors on Friday, Benzinga reports. They currently have a market perform rating on the basic materials company’s stock.

Several other research firms also recently weighed in on FMC. Royal Bank of Canada lifted their target price on shares of FMC from $65.00 to $81.00 and gave the company an outperform rating in a report on Friday, May 10th. Mizuho boosted their price objective on FMC from $55.00 to $57.00 and gave the company a neutral rating in a report on Tuesday, May 7th. StockNews.com upgraded FMC from a sell rating to a hold rating in a report on Wednesday, May 8th. Redburn Atlantic upgraded shares of FMC from a hold rating to a strong-buy rating in a research note on Friday, July 19th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of FMC from $53.00 to $50.00 and set a neutral rating for the company in a research note on Monday, May 13th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $68.06.

FMC Trading Up 0.4 %

Shares of NYSE FMC traded up $0.27 during midday trading on Friday, reaching $61.93. 774,967 shares of the stock were exchanged, compared to its average volume of 1,982,648. FMC has a twelve month low of $49.49 and a twelve month high of $92.24. The stock has a market capitalization of $7.73 billion, a P/E ratio of 6.89, a PEG ratio of 1.65 and a beta of 0.84. The company has a 50 day simple moving average of $57.75 and a 200 day simple moving average of $58.85. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.02 and a current ratio of 1.48.

FMC (NYSE:FMC) last issued its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.08. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. FMC had a return on equity of 7.52% and a net margin of 33.97%. The company’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period last year, the company earned $0.50 EPS. As a group, equities analysts expect that FMC will post 3.17 earnings per share for the current year.

FMC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Monday, September 30th will be issued a $0.58 dividend. This represents a $2.32 annualized dividend and a yield of 3.75%. The ex-dividend date is Monday, September 30th. FMC’s dividend payout ratio (DPR) is presently 25.89%.

Institutional Investors Weigh In On FMC

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of FMC by 5.3% during the first quarter. Vanguard Group Inc. now owns 15,290,219 shares of the basic materials company’s stock worth $973,987,000 after acquiring an additional 768,432 shares during the last quarter. Wellington Management Group LLP increased its position in FMC by 15.3% in the 4th quarter. Wellington Management Group LLP now owns 12,547,766 shares of the basic materials company’s stock valued at $791,137,000 after acquiring an additional 1,666,096 shares during the period. Price T Rowe Associates Inc. MD lifted its position in FMC by 35.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,061,828 shares of the basic materials company’s stock worth $322,439,000 after acquiring an additional 1,316,133 shares during the period. Tweedy Browne Co LLC lifted its stake in shares of FMC by 105.1% in the 4th quarter. Tweedy Browne Co LLC now owns 2,961,857 shares of the basic materials company’s stock worth $186,745,000 after acquiring an additional 1,518,053 shares during the period. Finally, Boston Partners boosted its holdings in FMC by 2.2% in the 4th quarter. Boston Partners now owns 2,428,010 shares of the basic materials company’s stock valued at $153,030,000 after purchasing an additional 53,408 shares in the last quarter. 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.