FMC (NYSE:FMC) Price Target Lowered to $69.00 at KeyCorp

FMC (NYSE:FMC) had its target price decreased by KeyCorp from $79.00 to $69.00 in a research report released on Thursday,Benzinga reports. KeyCorp currently has an overweight rating on the basic materials company’s stock.

Other equities analysts have also issued research reports about the stock. Royal Bank of Canada boosted their price objective on shares of FMC from $78.00 to $81.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. UBS Group cut their price objective on shares of FMC from $75.00 to $66.00 and set a “buy” rating on the stock in a report on Friday, December 20th. Mizuho upped their price objective on FMC from $64.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, Citigroup cut their price objective on FMC from $70.00 to $55.00 and set a “neutral” rating on the stock in a report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $64.92.

FMC Stock Up 0.3 %

FMC stock opened at $48.74 on Thursday. The firm has a market capitalization of $6.08 billion, a price-to-earnings ratio of 4.19, 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 has a fifty-two week low of $47.71 and a fifty-two week high of $68.72. The stock’s fifty day moving average is $56.31 and its two-hundred day moving average is $59.35.

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

FMC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Tuesday, December 31st will be issued a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date of this dividend is Tuesday, December 31st. FMC’s dividend payout ratio is currently 19.97%.

Insiders Place Their Bets

In other news, VP Jacqueline Scanlan sold 4,529 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $59.67, for a total transaction of $270,245.43. Following the transaction, the vice president now owns 28,649 shares of the company’s stock, valued at approximately $1,709,485.83. This trade represents a 13.65 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.85% of the stock is owned by company insiders.

Institutional Trading of FMC

Several institutional investors and hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of FMC by 9.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 9,240 shares of the basic materials company’s stock valued at $532,000 after buying an additional 773 shares during the period. Rothschild Investment LLC acquired a new position in FMC in the second quarter valued at approximately $60,000. Versor Investments LP bought a new position in shares of FMC during the second quarter valued at approximately $360,000. National Bank of Canada FI raised its position in shares of FMC by 24.4% during the 2nd quarter. National Bank of Canada FI now owns 33,880 shares of the basic materials company’s stock worth $1,918,000 after purchasing an additional 6,656 shares during the period. Finally, Arizona State Retirement System lifted its holdings in shares of FMC by 1.8% in the 2nd quarter. Arizona State Retirement System now owns 34,942 shares of the basic materials company’s stock worth $2,011,000 after purchasing an additional 627 shares during the last quarter. 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.