FMC (NYSE:FMC) had its price target increased by Royal Bank of Canada to $100.00 in a research note published on Tuesday, February 19th, The Fly reports. The brokerage currently has a positive rating on the basic materials company’s stock.
A number of other brokerages have also issued reports on FMC. ValuEngine upgraded FMC from a sell rating to a hold rating in a research note on Thursday, November 1st. Citigroup assumed coverage on FMC in a research report on Monday, November 5th. They set a buy rating and a $92.00 target price on the stock. Credit Suisse Group assumed coverage on FMC in a research report on Monday, November 5th. They set an outperform rating and a $103.00 target price on the stock. Loop Capital assumed coverage on FMC in a research report on Friday, November 9th. They set a buy rating and a $118.00 target price on the stock. Finally, Buckingham Research assumed coverage on shares of FMC in a research report on Wednesday, November 14th. They set a buy rating and a $106.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $97.58.
FMC stock traded down $1.32 during mid-day trading on Tuesday, reaching $77.16. 914,638 shares of the company were exchanged, compared to its average volume of 1,000,041. The company has a quick ratio of 0.98, a current ratio of 1.35 and a debt-to-equity ratio of 0.68. The firm has a market cap of $10.33 billion, a P/E ratio of 12.27, a P/E/G ratio of 1.28 and a beta of 1.50. FMC has a 12-month low of $69.36 and a 12-month high of $92.95.
FMC (NYSE:FMC) last issued its quarterly earnings data on Monday, February 11th. The basic materials company reported $1.69 EPS for the quarter, beating the consensus estimate of $1.64 by $0.05. FMC had a return on equity of 27.73% and a net margin of 10.62%. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the prior year, the business posted $1.10 EPS. Equities analysts expect that FMC will post 5.67 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 18th. Shareholders of record on Friday, March 29th will be paid a $0.40 dividend. The ex-dividend date is Thursday, March 28th. This represents a $1.60 annualized dividend and a dividend yield of 2.07%. FMC’s dividend payout ratio (DPR) is 25.44%.
FMC declared that its Board of Directors has approved a share repurchase program on Monday, December 3rd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the basic materials company to buy up to 9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
In other FMC news, Director Robert C. Pallash sold 6,992 shares of the company’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $87.28, for a total transaction of $610,261.76. Following the transaction, the director now directly owns 37,458 shares in the company, valued at $3,269,334.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Eduardo E. Cordeiro bought 3,500 shares of the stock in a transaction on Thursday, December 20th. The shares were bought at an average price of $71.90 per share, for a total transaction of $251,650.00. Following the completion of the transaction, the director now directly owns 21,645 shares of the company’s stock, valued at approximately $1,556,275.50. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 131,880 shares of company stock valued at $11,144,839. Insiders own 1.20% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the business. Metropolitan Life Insurance Co. NY grew its position in shares of FMC by 0.6% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 22,243 shares of the basic materials company’s stock valued at $1,645,000 after purchasing an additional 127 shares during the last quarter. Cigna Investments Inc. New lifted its stake in shares of FMC by 3.6% during the fourth quarter. Cigna Investments Inc. New now owns 3,949 shares of the basic materials company’s stock valued at $292,000 after buying an additional 137 shares during the period. Hanseatic Management Services Inc. lifted its stake in shares of FMC by 52.1% during the fourth quarter. Hanseatic Management Services Inc. now owns 546 shares of the basic materials company’s stock valued at $40,000 after buying an additional 187 shares during the period. Daiwa Securities Group Inc. lifted its stake in shares of FMC by 4.1% during the fourth quarter. Daiwa Securities Group Inc. now owns 5,056 shares of the basic materials company’s stock valued at $374,000 after buying an additional 200 shares during the period. Finally, North Star Investment Management Corp. lifted its stake in shares of FMC by 16.3% during the fourth quarter. North Star Investment Management Corp. now owns 1,512 shares of the basic materials company’s stock valued at $112,000 after buying an additional 212 shares during the period. Institutional investors own 87.70% 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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