Mizuho Lowers FMC (NYSE:FMC) Price Target to $55.00

FMC (NYSE:FMC) had its target price cut by Mizuho from $70.00 to $55.00 in a report issued on Tuesday,Benzinga reports. The brokerage currently has a “neutral” rating on the basic materials company’s stock. Mizuho’s price objective would indicate a potential upside of 9.15% from the stock’s current price.

FMC has been the topic of several other reports. KeyCorp reduced their target price on FMC from $79.00 to $69.00 and set an “overweight” rating on the stock in a research report on Thursday, January 2nd. UBS Group decreased their target price on shares of FMC from $75.00 to $66.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Royal Bank of Canada increased 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, Citigroup lowered their price objective on shares of FMC from $70.00 to $55.00 and set a “neutral” rating for the company in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, three 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 a consensus target price of $62.92.

FMC Price Performance

Shares of NYSE FMC opened at $50.39 on Tuesday. The company has a current ratio of 1.48, a quick ratio of 1.09 and a debt-to-equity ratio of 0.65. The company’s 50-day moving average price is $55.30 and its 200 day moving average price is $59.22. FMC has a 52 week low of $47.71 and a 52 week high of $68.72. The stock has a market cap of $6.29 billion, a price-to-earnings ratio of 4.34, a PEG ratio of 1.41 and a beta of 0.80.

FMC (NYSE:FMC) last issued its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $1.04 billion. FMC had a net margin of 34.93% and a return on equity of 7.68%. The company’s revenue was up 8.5% on a year-over-year basis. During the same period last year, the company posted $0.44 EPS. As a group, research analysts forecast that FMC will post 3.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP Jacqueline Scanlan sold 4,529 shares of the stock in a transaction that occurred on 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 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.85% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its position in shares of FMC by 115.0% during the fourth quarter. GAMMA Investing LLC now owns 1,976 shares of the basic materials company’s stock worth $96,000 after purchasing an additional 1,057 shares during the last quarter. Inspire Trust Co. N.A. lifted its holdings in FMC by 18.7% during the 3rd quarter. Inspire Trust Co. N.A. now owns 60,200 shares of the basic materials company’s stock worth $3,970,000 after buying an additional 9,500 shares during the last quarter. Synovus Financial Corp grew its position in shares of FMC by 82.9% in the 3rd quarter. Synovus Financial Corp now owns 49,892 shares of the basic materials company’s stock worth $3,290,000 after acquiring an additional 22,612 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of FMC in the 3rd quarter valued at approximately $58,000. Finally, Pine Valley Investments Ltd Liability Co acquired a new stake in shares of FMC during the 3rd quarter valued at approximately $205,000. 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.