FMC (NYSE:FMC) Stock Rating Upgraded by Bank of America

FMC (NYSE:FMC) was upgraded by analysts at Bank of America from an “underperform” rating to a “neutral” rating in a research report issued on Tuesday, MarketBeat.com reports. The brokerage presently has a $61.00 price target on the basic materials company’s stock, down from their prior price target of $63.00. Bank of America‘s target price points to a potential upside of 17.24% from the stock’s previous close.

FMC has been the subject of several other reports. Mizuho decreased their target price on FMC from $70.00 to $55.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. KeyCorp decreased their price objective on shares of FMC from $79.00 to $69.00 and set an “overweight” rating for the company in a report on Thursday, January 2nd. Royal Bank of Canada upped their target price 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. UBS Group decreased 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. Finally, Citigroup dropped their price objective on FMC from $70.00 to $55.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 18th. Eleven investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $63.25.

FMC Price Performance

FMC stock opened at $52.03 on Tuesday. The stock has a market cap of $6.50 billion, a PE ratio of 4.48, a P/E/G ratio of 1.41 and a beta of 0.83. FMC has a 12 month low of $47.71 and a 12 month high of $68.72. The company has a 50-day moving average price of $54.51 and a 200 day moving average price of $59.10. The company has a current ratio of 1.48, a quick ratio of 1.09 and a debt-to-equity ratio of 0.65.

FMC (NYSE:FMC) last released its earnings results on Tuesday, October 29th. The basic materials company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.20. FMC had a return on equity of 7.68% and a net margin of 34.93%. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter in the prior year, the firm posted $0.44 earnings per share. The company’s quarterly revenue was up 8.5% on a year-over-year basis. Equities research analysts anticipate that FMC will post 3.35 earnings per share for the current year.

Insider Buying and Selling at FMC

In other FMC news, VP Jacqueline Scanlan sold 4,529 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $59.67, for a total value of $270,245.43. Following the completion of the sale, the vice president now directly owns 28,649 shares in the company, valued at $1,709,485.83. This trade represents a 13.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.85% of the stock is owned by insiders.

Institutional Trading of FMC

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Millburn Ridgefield Corp increased its position in FMC by 186.2% during the 3rd quarter. Millburn Ridgefield Corp now owns 498 shares of the basic materials company’s stock valued at $33,000 after buying an additional 324 shares in the last quarter. First Horizon Advisors Inc. grew its stake in shares of FMC by 90.8% during the third quarter. First Horizon Advisors Inc. now owns 517 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 246 shares during the last quarter. Mather Group LLC. increased its holdings in shares of FMC by 250.6% during the third quarter. Mather Group LLC. now owns 554 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 396 shares in the last quarter. Peterson Financial Group Inc. purchased a new position in shares of FMC in the 3rd quarter valued at approximately $51,000. Finally, Brooklyn Investment Group acquired a new stake in FMC in the 3rd quarter worth approximately $52,000. Hedge funds and other institutional investors own 91.86% of the company’s stock.

FMC Company Profile

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.