Barclays Raises FMC (NYSE:FMC) Price Target to $65.00

FMC (NYSE:FMC) had its target price hoisted by Barclays from $62.00 to $65.00 in a report released on Monday morning, Benzinga reports. The firm currently has an equal weight rating on the basic materials company’s stock.

A number of other equities research analysts have also commented on the company. JPMorgan Chase & Co. dropped their target price on FMC from $53.00 to $50.00 and set a neutral rating on the stock in a research report on Monday, May 13th. Mizuho upped their target price on FMC from $55.00 to $57.00 and gave the company a neutral rating in a research report on Tuesday, May 7th. BMO Capital Markets upped their target price on FMC from $60.00 to $65.00 and gave the company a market perform rating in a research report on Friday, August 2nd. StockNews.com upgraded FMC from a sell rating to a hold rating in a research report on Wednesday, May 8th. Finally, KeyCorp dropped their target price on FMC from $81.00 to $79.00 and set an overweight rating on the stock in a research report on Friday, August 2nd. One investment 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 stock currently has a consensus rating of Hold and a consensus price target of $68.06.

FMC Stock Performance

FMC opened at $61.25 on Monday. FMC has a 52-week low of $49.49 and a 52-week high of $90.33. The company has a quick ratio of 1.02, a current ratio of 1.48 and a debt-to-equity ratio of 0.66. The company has a market cap of $7.65 billion, a P/E ratio of 6.84, a price-to-earnings-growth ratio of 1.65 and a beta of 0.84. The firm’s 50-day moving average price is $57.73 and its 200-day moving average price is $58.91.

FMC (NYSE:FMC) last posted its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.08. FMC had a net margin of 33.97% and a return on equity of 7.52%. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter in the prior year, the company posted $0.50 earnings per share. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, equities analysts anticipate that FMC will post 3.17 EPS for the current fiscal year.

FMC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a dividend yield of 3.79%. The ex-dividend date is Monday, September 30th. FMC’s payout ratio is 25.89%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Riverview Trust Co acquired a new position in shares of FMC during the 1st quarter worth approximately $27,000. Financial Connections Group Inc. acquired a new position in FMC in the 4th quarter valued at $31,000. Benjamin F. Edwards & Company Inc. raised its stake in FMC by 114.3% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 568 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 303 shares during the last quarter. LRI Investments LLC acquired a new position in FMC in the 1st quarter valued at $39,000. Finally, UMB Bank n.a. raised its stake in FMC by 56.9% in the 2nd quarter. UMB Bank n.a. now owns 678 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 246 shares during the last quarter. 91.86% of the stock is owned by institutional investors and hedge funds.

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.