FMC (NYSE:FMC) Price Target Cut to $51.00 by Analysts at KeyCorp

FMC (NYSE:FMC) had its price objective cut by KeyCorp from $55.00 to $51.00 in a report issued on Tuesday,Benzinga reports. They currently have an overweight rating on the basic materials company’s stock.

Other equities research analysts have also recently issued reports about the stock. Barclays decreased their price objective on shares of FMC from $65.00 to $48.00 and set an “overweight” rating for the company in a report on Friday, February 7th. Mizuho decreased their price objective on shares of FMC from $70.00 to $55.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Citigroup upped their price objective on shares of FMC from $55.00 to $61.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. Vertical Research upgraded shares of FMC to a “hold” rating in a report on Wednesday, February 5th. Finally, Morgan Stanley decreased their price objective on shares of FMC from $70.00 to $46.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $52.23.

FMC Trading Up 3.8 %

FMC stock opened at $38.02 on Tuesday. The company’s fifty day simple moving average is $48.97 and its 200-day simple moving average is $57.22. The company has a quick ratio of 1.09, a current ratio of 1.64 and a debt-to-equity ratio of 0.67. FMC has a 12 month low of $33.80 and a 12 month high of $68.72. The stock has a market cap of $4.75 billion, a P/E ratio of 13.98, a P/E/G ratio of 1.75 and a beta of 0.84.

FMC (NYSE:FMC) last posted its quarterly earnings results on Tuesday, February 4th. The basic materials company reported $1.79 EPS for the quarter, beating the consensus estimate of $1.65 by $0.14. FMC had a net margin of 8.03% and a return on equity of 9.67%. As a group, sell-side analysts forecast that FMC will post 3.53 EPS for the current fiscal year.

FMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 6.10%. The ex-dividend date was Tuesday, December 31st. FMC’s dividend payout ratio is currently 85.29%.

Insider Buying and Selling

In related news, EVP Michael Finian Reilly sold 2,958 shares of the stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $55.25, for a total value of $163,429.50. Following the completion of the transaction, the executive vice president now owns 25,468 shares of the company’s stock, valued at $1,407,107. This represents a 10.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.85% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in FMC by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 15,291,878 shares of the basic materials company’s stock worth $743,338,000 after purchasing an additional 180,766 shares in the last quarter. State Street Corp raised its stake in shares of FMC by 27.3% in the third quarter. State Street Corp now owns 6,271,760 shares of the basic materials company’s stock valued at $417,151,000 after acquiring an additional 1,343,615 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of FMC by 7.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,375,911 shares of the basic materials company’s stock valued at $212,714,000 after acquiring an additional 321,241 shares during the last quarter. Invesco Ltd. raised its stake in shares of FMC by 37.8% in the fourth quarter. Invesco Ltd. now owns 3,559,107 shares of the basic materials company’s stock valued at $173,008,000 after acquiring an additional 977,110 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of FMC by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 2,995,691 shares of the basic materials company’s stock valued at $145,452,000 after acquiring an additional 54,017 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.