Brokerages Set FMC Co. (NYSE:FMC) Target Price at $51.15

FMC Co. (NYSE:FMC) has been assigned an average rating of “Hold” from the fourteen research firms that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $51.15.

A number of brokerages recently commented on FMC. Morgan Stanley reduced their price objective on shares of FMC from $70.00 to $46.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. Redburn Atlantic cut FMC from a “buy” rating to a “neutral” rating and set a $49.00 price target for the company. in a report on Friday, February 14th. Citigroup upped their price objective on FMC from $55.00 to $61.00 and gave the stock a “neutral” rating in a report on Wednesday, January 29th. KeyCorp reduced their target price on FMC from $55.00 to $51.00 and set an “overweight” rating for the company in a report on Tuesday, February 18th. Finally, Vertical Research raised shares of FMC to a “hold” rating in a research note on Wednesday, February 5th.

Insider Activity at FMC

In other news, Director Carol Anthony Davidson bought 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was purchased at an average price of $37.33 per share, with a total value of $223,980.00. Following the purchase, the director now owns 6,000 shares of the company’s stock, valued at $223,980. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Ronaldo Pereira acquired 5,600 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was purchased at an average cost of $35.77 per share, with a total value of $200,312.00. Following the transaction, the insider now owns 48,837 shares of the company’s stock, valued at approximately $1,746,899.49. The trade was a 12.95 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.67% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On FMC

Institutional investors have recently added to or reduced their stakes in the business. Golden State Wealth Management LLC purchased a new position in shares of FMC during the 4th quarter worth about $29,000. Millburn Ridgefield Corp grew its holdings in FMC by 186.2% in 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 period. EverSource Wealth Advisors LLC increased its position in FMC by 217.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 746 shares of the basic materials company’s stock worth $36,000 after purchasing an additional 511 shares during the last quarter. Resona Asset Management Co. Ltd. purchased a new position in FMC during the fourth quarter worth approximately $37,000. Finally, IFP Advisors Inc boosted its holdings in shares of FMC by 65.3% in the 4th quarter. IFP Advisors Inc now owns 959 shares of the basic materials company’s stock valued at $47,000 after purchasing an additional 379 shares during the last quarter. 91.86% of the stock is currently owned by institutional investors and hedge funds.

FMC Trading Down 9.3 %

Shares of FMC stock opened at $35.33 on Friday. FMC has a twelve month low of $33.80 and a twelve month high of $68.72. The company has a current ratio of 1.64, a quick ratio of 1.24 and a debt-to-equity ratio of 0.67. The business’s 50 day moving average is $41.54 and its two-hundred day moving average is $52.10. The company has a market capitalization of $4.41 billion, a P/E ratio of 12.99, a price-to-earnings-growth ratio of 1.90 and a beta of 0.83.

FMC (NYSE:FMC) last announced its quarterly earnings data on Tuesday, February 4th. The basic materials company reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.14. FMC had a net margin of 8.03% and a return on equity of 9.67%. Equities analysts forecast that FMC will post 3.48 EPS for the current year.

FMC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Monday, March 31st will be given a dividend of $0.58 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.32 annualized dividend and a dividend yield of 6.57%. FMC’s dividend payout ratio is currently 85.29%.

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.