FMC (NYSE:FMC) had its price objective upped by SunTrust Banks from $102.00 to $109.00 in a report released on Monday, December 9th, BenzingaRatingsTable reports. The brokerage presently has a “buy” rating on the basic materials company’s stock. SunTrust Banks’ price objective suggests a potential upside of 9.85% from the stock’s previous close.
A number of other research analysts also recently commented on FMC. Wells Fargo & Co initiated coverage on FMC in a research note on Tuesday, October 15th. They set an “outperform” rating and a $100.00 price objective for the company. BMO Capital Markets set a $100.00 price target on FMC and gave the stock a “buy” rating in a research note on Thursday, September 12th. Robert W. Baird raised FMC from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $86.00 to $95.00 in a research note on Wednesday, October 16th. Buckingham Research increased their price target on FMC from $100.00 to $105.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, Zacks Investment Research cut FMC from a “hold” rating to a “sell” rating and set a $87.00 price target for the company. in a research note on Wednesday, October 16th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $99.41.
Shares of FMC stock traded down $0.65 on Monday, hitting $99.23. 821,148 shares of the stock traded hands, compared to its average volume of 920,424. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.62 and a quick ratio of 1.15. The company has a market capitalization of $12.94 billion, a PE ratio of 15.78, a PEG ratio of 1.47 and a beta of 1.51. FMC has a 1-year low of $70.62 and a 1-year high of $101.95. The company’s fifty day moving average is $98.74 and its 200 day moving average is $89.06.
FMC (NYSE:FMC) last posted its quarterly earnings results on Tuesday, October 29th. The basic materials company reported $0.94 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.14. The business had revenue of $1,000.00 million for the quarter, compared to analyst estimates of $978.47 million. FMC had a return on equity of 27.94% and a net margin of 11.08%. The business’s revenue was down 3.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.98 EPS. As a group, equities research analysts expect that FMC will post 5.86 EPS for the current year.
In other FMC news, CEO Pierre R. Brondeau sold 24,738 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $96.88, for a total value of $2,396,617.44. Also, CEO Pierre R. Brondeau sold 312,156 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $98.76, for a total value of $30,828,526.56. The disclosure for this sale can be found here. Insiders have sold a total of 340,273 shares of company stock valued at $33,559,428 over the last ninety days. Company insiders own 1.50% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of FMC. Virginia Retirement Systems ET AL bought a new position in FMC in the 2nd quarter valued at $290,000. SG Americas Securities LLC grew its stake in FMC by 1,880.1% in the second quarter. SG Americas Securities LLC now owns 66,038 shares of the basic materials company’s stock valued at $5,478,000 after acquiring an additional 62,703 shares during the period. Los Angeles Capital Management & Equity Research Inc. acquired a new position in FMC in the second quarter valued at about $748,000. Janney Montgomery Scott LLC grew its stake in FMC by 24.1% in the second quarter. Janney Montgomery Scott LLC now owns 19,200 shares of the basic materials company’s stock valued at $1,593,000 after acquiring an additional 3,726 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in FMC by 3.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 41,459 shares of the basic materials company’s stock valued at $3,439,000 after acquiring an additional 1,330 shares during the period. Hedge funds and other institutional investors own 88.83% of the company’s stock.
FMC Company Profile
FMC Corporation, a diversified chemical company, provides solutions, applications, and products for the agricultural, consumer, and industrial markets worldwide. The company operates in two segments, FMC Agricultural Solutions and FMC Lithium. The FMC Agricultural Solutions segment develops, manufactures, markets, and sells crop protection chemicals, including insecticides, herbicides, and fungicides that 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.
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