FMC (NYSE:FMC) Coverage Initiated by Analysts at Citigroup

Citigroup initiated coverage on shares of FMC (NYSE:FMC) in a research report released on Wednesday morning, Marketbeat.com reports. The firm issued a neutral rating and a $67.00 price target on the basic materials company’s stock.

A number of other brokerages have also issued reports on FMC. 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. Redburn Atlantic upgraded shares of FMC from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 19th. Wells Fargo & Company cut their target price on shares of FMC from $68.00 to $62.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 16th. JPMorgan Chase & Co. upped their price objective on FMC from $50.00 to $59.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. Finally, KeyCorp decreased their target price on FMC from $81.00 to $79.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, twelve have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $66.67.

FMC Price Performance

Shares of FMC stock opened at $62.13 on Wednesday. FMC has a twelve month low of $49.49 and a twelve month high of $68.72. The company has a market capitalization of $7.75 billion, a PE ratio of 6.93, a price-to-earnings-growth ratio of 1.53 and a beta of 0.85. The company has a current ratio of 1.48, a quick ratio of 1.07 and a debt-to-equity ratio of 0.66. The firm has a fifty day simple moving average of $63.34 and a 200-day simple moving average of $60.75.

FMC (NYSE:FMC) last posted its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.63 earnings per share for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the prior year, the company posted $0.50 EPS. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. Equities research analysts anticipate that FMC will post 3.4 earnings per share for the current fiscal year.

Institutional Trading of FMC

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Legacy Wealth Asset Management LLC grew its holdings in FMC by 4.6% during the first quarter. Legacy Wealth Asset Management LLC now owns 4,007 shares of the basic materials company’s stock worth $255,000 after acquiring an additional 175 shares during the period. Taylor Frigon Capital Management LLC raised its holdings in shares of FMC by 1.5% in the 1st quarter. Taylor Frigon Capital Management LLC now owns 12,581 shares of the basic materials company’s stock worth $801,000 after purchasing an additional 183 shares in the last quarter. Dark Forest Capital Management LP lifted its stake in FMC by 3.1% during the second quarter. Dark Forest Capital Management LP now owns 6,465 shares of the basic materials company’s stock valued at $372,000 after purchasing an additional 192 shares during the last quarter. HB Wealth Management LLC boosted its holdings in FMC by 3.8% during the second quarter. HB Wealth Management LLC now owns 5,649 shares of the basic materials company’s stock worth $325,000 after buying an additional 208 shares in the last quarter. Finally, CreativeOne Wealth LLC grew its position in FMC by 6.7% in the first quarter. CreativeOne Wealth LLC now owns 3,926 shares of the basic materials company’s stock worth $250,000 after buying an additional 246 shares during the last quarter. Institutional investors own 91.86% of the company’s stock.

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.