FMC Co. (NYSE:FMC) Receives Average Recommendation of “Hold” from Brokerages

FMC Co. (NYSE:FMC) has earned a consensus rating of “Hold” from the eighteen ratings firms that are currently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, twelve have assigned a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $70.06.

FMC has been the subject of several recent research reports. Loop Capital increased their price target on FMC from $55.00 to $65.00 and gave the company a “hold” rating in a research note on Tuesday, March 19th. Wolfe Research initiated coverage on FMC in a research report on Friday, March 1st. They set a “peer perform” rating on the stock. Barclays initiated coverage on FMC in a research report on Wednesday. They set an “equal weight” rating and a $62.00 target price on the stock. JPMorgan Chase & Co. cut their target price on FMC from $53.00 to $50.00 and set a “neutral” rating on the stock in a research report on Monday, May 13th. Finally, Mizuho increased their price target on FMC from $55.00 to $57.00 and gave the stock a “neutral” rating in a report on Tuesday, May 7th.

FMC Price Performance

Shares of FMC opened at $56.74 on Thursday. FMC has a 12-month low of $49.49 and a 12-month high of $107.15. The business has a 50-day simple moving average of $59.90 and a two-hundred day simple moving average of $59.27. The company has a quick ratio of 1.02, a current ratio of 1.46 and a debt-to-equity ratio of 0.70. The stock has a market cap of $7.08 billion, a PE ratio of 6.33, a PEG ratio of 1.17 and a beta of 0.88.

FMC (NYSE:FMC) last issued its quarterly earnings results on Monday, May 6th. The basic materials company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.01. The company had revenue of $918.00 million during the quarter, compared to analysts’ expectations of $1.01 billion. FMC had a return on equity of 7.68% and a net margin of 27.65%. The business’s quarterly revenue was down 31.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.77 earnings per share. Analysts anticipate that FMC will post 3.6 earnings per share for the current fiscal year.

FMC Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Friday, June 28th will be given a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date is Friday, June 28th. FMC’s dividend payout ratio is currently 25.89%.

Hedge Funds Weigh In On FMC

Several hedge funds have recently made changes to their positions in FMC. Legacy Wealth Asset Management LLC boosted its holdings in shares of FMC by 4.6% in the first quarter. Legacy Wealth Asset Management LLC now owns 4,007 shares of the basic materials company’s stock valued at $255,000 after purchasing an additional 175 shares during the period. Taylor Frigon Capital Management LLC boosted its holdings in shares of FMC by 1.5% in the first quarter. Taylor Frigon Capital Management LLC now owns 12,581 shares of the basic materials company’s stock valued at $801,000 after purchasing an additional 183 shares during the period. Wahed Invest LLC boosted its holdings in shares of FMC by 9.5% in the fourth quarter. Wahed Invest LLC now owns 2,131 shares of the basic materials company’s stock valued at $134,000 after purchasing an additional 184 shares during the period. Massmutual Trust Co. FSB ADV boosted its holdings in shares of FMC by 27.7% in the first quarter. Massmutual Trust Co. FSB ADV now owns 866 shares of the basic materials company’s stock valued at $55,000 after purchasing an additional 188 shares during the period. Finally, WCM Investment Management LLC boosted its holdings in shares of FMC by 2.1% in the first quarter. WCM Investment Management LLC now owns 9,358 shares of the basic materials company’s stock valued at $596,000 after purchasing an additional 196 shares during the period. 91.86% of the stock is currently owned by hedge funds and other institutional investors.

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.