FMC Co. (NYSE:FMC) Receives Average Rating of “Hold” from Analysts

Posted by on Jun 8th, 2022

Shares of FMC Co. (NYSE:FMC – Get Rating) have been given a consensus rating of “Hold” by the eighteen analysts that are covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $129.14.

A number of analysts have issued reports on the company. StockNews.com downgraded FMC from a “buy” rating to a “hold” rating in a research report on Monday, May 9th. Credit Suisse Group started coverage on FMC in a research report on Tuesday, May 31st. They set an “underperform” rating and a $109.00 price objective for the company. Morgan Stanley increased their price target on shares of FMC from $115.00 to $125.00 and gave the company an “equal weight” rating in a report on Friday, February 11th. Monness Crespi & Hardt downgraded shares of FMC from a “buy” rating to a “neutral” rating in a research note on Thursday, March 31st. Finally, Seaport Res Ptn reaffirmed a “buy” rating on shares of FMC in a research note on Tuesday, February 8th.

FMC stock traded down $2.28 during mid-day trading on Wednesday, reaching $118.95. 1,550 shares of the company’s stock were exchanged, compared to its average volume of 940,986. The business’s fifty day simple moving average is $127.31 and its 200 day simple moving average is $118.37. The firm has a market capitalization of $14.98 billion, a PE ratio of 20.13, a P/E/G ratio of 1.43 and a beta of 0.82. FMC has a one year low of $87.27 and a one year high of $140.99. The company has a quick ratio of 0.97, a current ratio of 1.38 and a debt-to-equity ratio of 0.89.

FMC (NYSE:FMC – Get Rating) last released its earnings results on Monday, May 2nd. The basic materials company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.69 by $0.19. FMC had a return on equity of 30.30% and a net margin of 14.64%. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same period last year, the business posted $1.53 earnings per share. On average, sell-side analysts forecast that FMC will post 7.64 earnings per share for the current year.

FMC announced that its Board of Directors has approved a share buyback plan on Tuesday, February 8th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the basic materials company to buy up to 7.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 21st. Stockholders of record on Thursday, June 30th will be issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend is Wednesday, June 29th. FMC’s dividend payout ratio is presently 35.69%.

In related news, insider Nicholas Pfeiffer sold 2,181 shares of the stock in a transaction that occurred on Friday, March 11th. The shares were sold at an average price of $123.65, for a total value of $269,680.65. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.57% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of FMC. Norges Bank acquired a new stake in shares of FMC during the 4th quarter worth approximately $265,158,000. Wellington Management Group LLP lifted its position in shares of FMC by 27.4% during the 3rd quarter. Wellington Management Group LLP now owns 9,130,752 shares of the basic materials company’s stock valued at $836,012,000 after buying an additional 1,964,364 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of FMC during the 4th quarter valued at approximately $134,358,000. American Century Companies Inc. lifted its position in shares of FMC by 37.1% during the 4th quarter. American Century Companies Inc. now owns 2,890,516 shares of the basic materials company’s stock valued at $317,638,000 after buying an additional 781,663 shares in the last quarter. Finally, BlackRock Inc. lifted its holdings in FMC by 6.7% in the 1st quarter. BlackRock Inc. now owns 10,809,549 shares of the basic materials company’s stock valued at $1,422,214,000 after purchasing an additional 679,446 shares in the last quarter. 88.44% of the stock is currently owned by institutional investors and hedge funds.

FMC Company Profile (Get Rating)

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 include 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.

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