FMC (NYSE:FMC) Given New $79.00 Price Target at KeyCorp

FMC (NYSE:FMC) had its price target cut by KeyCorp from $81.00 to $79.00 in a report published on Friday, Benzinga reports. They currently have an overweight rating on the basic materials company’s stock.

A number of other analysts also recently commented on FMC. StockNews.com upgraded shares of FMC from a sell rating to a hold rating in a report on Wednesday, May 8th. Mizuho boosted their price target on shares of FMC from $55.00 to $57.00 and gave the company a neutral rating in a report on Tuesday, May 7th. JPMorgan Chase & Co. cut their price target on shares of FMC from $53.00 to $50.00 and set a neutral rating on the stock in a report on Monday, May 13th. Wells Fargo & Company cut their price target on shares of FMC from $68.00 to $62.00 and set an equal weight rating on the stock in a report on Tuesday, July 16th. Finally, Barclays initiated coverage on shares of FMC in a report on Wednesday, June 26th. They set an equal weight rating and a $62.00 price target on the stock. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $69.82.

FMC Price Performance

Shares of FMC stock traded down $2.15 during midday trading on Friday, reaching $62.19. 2,401,892 shares of the company were exchanged, compared to its average volume of 1,853,288. FMC has a 12 month low of $49.49 and a 12 month high of $94.07. The company has a market cap of $7.76 billion, a P/E ratio of 6.94, a PEG ratio of 1.65 and a beta of 0.84. The company’s 50 day moving average price is $57.75 and its two-hundred day moving average price is $58.77. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.02 and a current ratio of 1.48.

FMC (NYSE:FMC) last released its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.08. FMC had a net margin of 33.97% and a return on equity of 7.52%. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the previous year, the firm earned $0.50 EPS. FMC’s revenue was up 2.4% on a year-over-year basis. On average, sell-side analysts expect that FMC will post 3.17 earnings per share for the current year.

FMC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Monday, September 30th will be paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.73%. The ex-dividend date of this dividend is Monday, September 30th. FMC’s payout ratio is 25.89%.

Hedge Funds Weigh In On FMC

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in FMC by 5.3% during the 1st quarter. Vanguard Group Inc. now owns 15,290,219 shares of the basic materials company’s stock valued at $973,987,000 after purchasing an additional 768,432 shares during the last quarter. Wellington Management Group LLP raised its stake in FMC by 15.3% during the 4th quarter. Wellington Management Group LLP now owns 12,547,766 shares of the basic materials company’s stock valued at $791,137,000 after purchasing an additional 1,666,096 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of FMC by 35.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,061,828 shares of the basic materials company’s stock valued at $322,439,000 after buying an additional 1,316,133 shares in the last quarter. Tweedy Browne Co LLC raised its stake in shares of FMC by 105.1% in the 4th quarter. Tweedy Browne Co LLC now owns 2,961,857 shares of the basic materials company’s stock valued at $186,745,000 after buying an additional 1,518,053 shares in the last quarter. Finally, Boston Partners raised its stake in shares of FMC by 2.2% in the 4th quarter. Boston Partners now owns 2,428,010 shares of the basic materials company’s stock valued at $153,030,000 after buying an additional 53,408 shares in the last quarter. 91.86% of the stock is currently owned by institutional investors and hedge funds.

About FMC

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.