BMO Capital Markets Boosts FMC (NYSE:FMC) Price Target to $65.00

FMC (NYSE:FMC) had its target price increased by BMO Capital Markets from $60.00 to $65.00 in a research report released on Friday, Benzinga reports. The firm currently has a market perform rating on the basic materials company’s stock.

Other research analysts have also recently issued reports about the company. Redburn Atlantic upgraded FMC from a hold rating to a strong-buy rating in a report on Friday, July 19th. Royal Bank of Canada lifted their price objective on FMC from $65.00 to $81.00 and gave the company an outperform rating in a research note on Friday, May 10th. Barclays assumed coverage on FMC in a research note on Wednesday, June 26th. They set an equal weight rating and a $62.00 target price on the stock. 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 research note on Monday, May 13th. Finally, StockNews.com upgraded shares of FMC from a sell rating to a hold rating in a report on Wednesday, May 8th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $67.88.

FMC Stock Performance

Shares of FMC stock traded down $0.08 during midday trading on Friday, hitting $62.11. The company had a trading volume of 926,396 shares, compared to its average volume of 1,979,881. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.66. FMC has a 12-month low of $49.49 and a 12-month high of $92.24. The stock has a market cap of $7.75 billion, a price-to-earnings ratio of 6.94, a PEG ratio of 1.65 and a beta of 0.84. The company has a fifty day simple moving average of $57.75 and a 200 day simple moving average of $58.80.

FMC (NYSE:FMC) last announced its quarterly earnings results on Wednesday, July 31st. The basic materials company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.08. FMC had a return on equity of 7.52% and a net margin of 33.97%. The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period last year, the business earned $0.50 earnings per share. FMC’s quarterly revenue was up 2.4% on a year-over-year basis. As a group, analysts predict that FMC will post 3.17 earnings per share for the current fiscal year.

FMC Dividend Announcement

The firm 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. The ex-dividend date of this dividend is Monday, September 30th. This represents a $2.32 dividend on an annualized basis and a dividend yield of 3.74%. FMC’s payout ratio is presently 25.89%.

Hedge Funds Weigh In On FMC

A number of hedge funds have recently made changes to their positions in FMC. National Bank of Canada FI boosted its stake in FMC by 24.4% in the second 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 in the last quarter. Pzena Investment Management LLC acquired a new position in shares of FMC in the 2nd quarter valued at approximately $33,191,000. Versor Investments LP acquired a new stake in FMC during the 2nd quarter worth approximately $360,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new position in shares of FMC in the second quarter valued at approximately $5,309,000. Finally, International Private Wealth Advisors LLC bought a new stake in shares of FMC during the second quarter worth $327,000. Institutional investors and hedge funds own 91.86% of the company’s stock.

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.