FMC (NYSE:FMC) Price Target Raised to $61.00

FMC (NYSE:FMC) had its price target upped by Citigroup from $55.00 to $61.00 in a research report released on Wednesday,Benzinga reports. They currently have a neutral rating on the basic materials company’s stock.

A number of other research analysts have also weighed in on the stock. UBS Group dropped their price objective on shares of FMC from $75.00 to $66.00 and set a “buy” rating on the stock in a research note on Friday, December 20th. KeyCorp cut their price target on FMC from $79.00 to $69.00 and set an “overweight” rating for the company in a research note on Thursday, January 2nd. Mizuho lowered their price objective on FMC from $70.00 to $55.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Bank of America raised FMC from an “underperform” rating to a “neutral” rating and cut their target price for the company from $63.00 to $61.00 in a research report on Tuesday, January 14th. Finally, Barclays raised FMC from an “equal weight” rating to an “overweight” rating and set a $65.00 price target for the company in a research report on Tuesday, January 21st. Ten investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $63.75.

FMC Trading Down 1.2 %

NYSE:FMC opened at $55.68 on Wednesday. The firm has a fifty day simple moving average of $53.66 and a two-hundred day simple moving average of $58.94. FMC has a 12 month low of $47.71 and a 12 month high of $68.72. The stock has a market capitalization of $6.95 billion, a price-to-earnings ratio of 4.79, a PEG ratio of 1.21 and a beta of 0.83. 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 announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $1.04 billion. During the same quarter last year, the firm posted $0.44 earnings per share. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. Analysts expect that FMC will post 3.33 EPS for the current fiscal year.

FMC Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Tuesday, December 31st were given a dividend of $0.58 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $2.32 annualized dividend and a yield of 4.17%. FMC’s payout ratio is currently 19.97%.

Insider Buying and Selling

In other FMC news, EVP Michael Finian Reilly sold 2,958 shares of the stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $55.25, for a total transaction of $163,429.50. Following the completion of the transaction, the executive vice president now directly owns 25,468 shares of the company’s stock, valued at approximately $1,407,107. This represents a 10.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Jacqueline Scanlan sold 4,529 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was 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 of the company’s stock, valued at $1,709,485.83. This represents a 13.65 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,491 shares of company stock worth $433,898. Insiders own 0.85% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Kentucky Retirement Systems Insurance Trust Fund lifted its holdings in FMC by 27.7% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 4,720 shares of the basic materials company’s stock valued at $229,000 after purchasing an additional 1,024 shares during the last quarter. D.A. Davidson & CO. lifted its stake in shares of FMC by 3.6% during the 4th quarter. D.A. Davidson & CO. now owns 14,324 shares of the basic materials company’s stock valued at $696,000 after buying an additional 497 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in FMC by 2.3% in the 4th quarter. CIBC Asset Management Inc now owns 17,826 shares of the basic materials company’s stock worth $867,000 after buying an additional 393 shares during the period. Principal Securities Inc. grew its stake in FMC by 34.7% in the 4th quarter. Principal Securities Inc. now owns 990 shares of the basic materials company’s stock valued at $48,000 after buying an additional 255 shares in the last quarter. Finally, WealthPlan Investment Management LLC grew its stake in FMC by 10.2% in the 4th quarter. WealthPlan Investment Management LLC now owns 37,946 shares of the basic materials company’s stock valued at $1,845,000 after buying an additional 3,504 shares in the last quarter. 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.