FMC (NYSE:FMC) Stock Price Expected to Rise, Citigroup Analyst Says

FMC (NYSE:FMC) had its target price raised by Citigroup from $55.00 to $61.00 in a report published on Wednesday morning,Benzinga reports. The brokerage currently has a neutral rating on the basic materials company’s stock.

Several other analysts have also recently weighed in on FMC. Bank of America raised FMC from an “underperform” rating to a “neutral” rating and lowered their price target for the company from $63.00 to $61.00 in a report on Tuesday, January 14th. Royal Bank of Canada lifted their target price on shares of FMC from $78.00 to $81.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. KeyCorp decreased their price target on shares of FMC from $79.00 to $69.00 and set an “overweight” rating on the stock in a report on Thursday, January 2nd. UBS Group lowered their price objective on shares of FMC from $75.00 to $66.00 and set a “buy” rating on the stock in a research report on Friday, December 20th. Finally, Barclays upgraded shares of FMC from an “equal weight” rating to an “overweight” rating and set a $65.00 target price for the company in a research report on Tuesday, January 21st. Ten analysts have rated the stock with 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 company currently has a consensus rating of “Hold” and a consensus price target of $63.75.

FMC Stock Performance

FMC stock opened at $55.68 on Wednesday. FMC has a 1-year low of $47.71 and a 1-year high of $68.72. The company has a current ratio of 1.48, a quick ratio of 1.09 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $6.95 billion, a PE ratio of 4.79, a price-to-earnings-growth ratio of 1.21 and a beta of 0.83. The firm’s 50 day simple moving average is $53.66 and its 200 day simple moving average is $58.94.

FMC (NYSE:FMC) last released its quarterly earnings results on Tuesday, October 29th. The basic materials company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.20. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.04 billion. FMC had a net margin of 34.93% and a return on equity of 7.68%. The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.44 earnings per share. As a group, analysts expect that FMC will post 3.33 earnings per share for the current fiscal year.

FMC Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Tuesday, December 31st were paid a $0.58 dividend. This represents a $2.32 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date was Tuesday, December 31st. FMC’s dividend payout ratio (DPR) is presently 19.97%.

Insider Buying and Selling

In related news, VP Jacqueline Scanlan sold 4,529 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $59.67, for a total value of $270,245.43. Following the sale, the vice president now directly owns 28,649 shares of the company’s stock, valued at $1,709,485.83. This trade represents a 13.65 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Michael Finian Reilly sold 2,958 shares of the business’s stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $55.25, for a total value of $163,429.50. Following the transaction, the executive vice president now owns 25,468 shares in the company, valued at approximately $1,407,107. This represents a 10.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,491 shares of company stock worth $433,898 in the last ninety days. 0.85% of the stock is owned by insiders.

Institutional Investors Weigh In On FMC

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FMC. Golden State Wealth Management LLC purchased a new position in FMC during the 4th quarter valued at about $29,000. Millburn Ridgefield Corp lifted its holdings in shares of FMC by 186.2% during the third quarter. Millburn Ridgefield Corp now owns 498 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 324 shares during the last quarter. First Horizon Advisors Inc. boosted its position in shares of FMC by 90.8% in the 3rd quarter. First Horizon Advisors Inc. now owns 517 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 246 shares in the last quarter. Mather Group LLC. grew its stake in shares of FMC by 250.6% in the 3rd quarter. Mather Group LLC. now owns 554 shares of the basic materials company’s stock worth $37,000 after buying an additional 396 shares during the last quarter. Finally, Principal Securities Inc. increased its position in FMC by 34.7% during the 4th quarter. Principal Securities Inc. now owns 990 shares of the basic materials company’s stock valued at $48,000 after buying an additional 255 shares in the last quarter. 91.86% of the stock is owned by hedge funds and other institutional investors.

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.