Citigroup Has Lowered Expectations for FMC (NYSE:FMC) Stock Price

FMC (NYSE:FMC) had its price target trimmed by Citigroup from $70.00 to $55.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the basic materials company’s stock.

Other equities research analysts have also recently issued reports about the company. Royal Bank of Canada upped their price objective on FMC from $78.00 to $81.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Mizuho increased their price target on shares of FMC from $64.00 to $70.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating, ten have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $65.69.

FMC Trading Up 4.8 %

NYSE FMC opened at $50.15 on Wednesday. The company’s 50-day simple moving average is $58.90 and its two-hundred day simple moving average is $59.88. FMC has a one year low of $47.73 and a one year high of $68.72. The company has a market capitalization of $6.26 billion, a price-to-earnings ratio of 4.32, a price-to-earnings-growth ratio of 1.48 and a beta of 0.80. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.09 and a current ratio of 1.48.

FMC (NYSE:FMC) last issued its quarterly earnings data on Tuesday, October 29th. The basic materials company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.20. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.04 billion. FMC had a net margin of 34.93% and a return on equity of 7.68%. FMC’s revenue was up 8.5% compared to the same quarter last year. During the same period last year, the company posted $0.44 earnings per share. Equities analysts forecast that FMC will post 3.35 EPS for the current fiscal year.

FMC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 16th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 4.63%. The ex-dividend date of this dividend is Tuesday, December 31st. FMC’s dividend payout ratio is presently 19.97%.

Insiders Place Their Bets

In other FMC news, VP Jacqueline Scanlan sold 4,529 shares of the business’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $59.67, for a total transaction of $270,245.43. Following the sale, the vice president now owns 28,649 shares in the company, valued at approximately $1,709,485.83. The trade was a 13.65 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.81% of the company’s stock.

Institutional Investors Weigh In On FMC

Institutional investors and hedge funds have recently modified their holdings of the company. Barnett & Company Inc. purchased a new position in FMC during the 3rd quarter worth approximately $2,265,000. Inspire Trust Co. N.A. increased its stake in shares of FMC by 18.7% in the third quarter. Inspire Trust Co. N.A. now owns 60,200 shares of the basic materials company’s stock worth $3,970,000 after acquiring an additional 9,500 shares during the period. Advisors Asset Management Inc. raised its holdings in shares of FMC by 27.8% during the third quarter. Advisors Asset Management Inc. now owns 43,483 shares of the basic materials company’s stock worth $2,867,000 after purchasing an additional 9,449 shares during the last quarter. First National Bank of Omaha lifted its position in FMC by 85.7% during the third quarter. First National Bank of Omaha now owns 33,935 shares of the basic materials company’s stock valued at $2,238,000 after purchasing an additional 15,662 shares during the period. Finally, tru Independence LLC purchased a new stake in FMC in the third quarter valued at $5,323,000. Institutional investors and hedge funds 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.