FMC (NYSE:FMC) Upgraded by Bank of America to “Buy”

FMC (NYSE:FMCGet Rating) was upgraded by research analysts at Bank of America from an “underperform” rating to a “buy” rating in a research note issued on Tuesday, The Fly reports. The analysts noted that the move was a valuation call.

FMC has been the subject of a number of other reports. Loop Capital cut shares of FMC from a “buy” rating to a “hold” rating and set a $140.00 price target for the company. in a report on Thursday, April 14th. StockNews.com lowered FMC from a “buy” rating to a “hold” rating in a research report on Monday, May 9th. Redburn Partners lowered FMC from a “buy” rating to a “neutral” rating in a report on Monday, June 13th. Wells Fargo & Company decreased their price objective on FMC from $150.00 to $144.00 in a report on Wednesday, May 4th. Finally, Monness Crespi & Hardt cut FMC from a “buy” rating to a “neutral” rating in a report on Thursday, March 31st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $130.57.

Shares of FMC stock opened at $103.98 on Tuesday. The stock’s 50-day moving average is $122.80 and its 200 day moving average is $118.85. FMC has a one year low of $87.27 and a one year high of $140.99. The firm has a market cap of $13.10 billion, a price-to-earnings ratio of 17.51, a PEG ratio of 1.24 and a beta of 0.82. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.38 and a quick ratio of 0.97.

FMC (NYSE:FMCGet Rating) last issued its quarterly earnings results on Monday, May 2nd. The basic materials company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.19. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.28 billion. FMC had a return on equity of 30.30% and a net margin of 14.64%. During the same period in the previous year, the firm earned $1.53 earnings per share. On average, sell-side analysts expect that FMC will post 7.64 EPS for the current fiscal year.

In other FMC news, insider Nicholas Pfeiffer sold 1,000 shares of FMC stock in a transaction that occurred on Tuesday, June 7th. The shares were sold at an average price of $119.78, for a total transaction of $119,780.00. Following the transaction, the insider now owns 11,722 shares of the company’s stock, valued at approximately $1,404,061.16. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.57% of the company’s stock.

A number of hedge funds have recently bought and sold shares of FMC. Norges Bank purchased a new stake in FMC during the fourth quarter worth about $265,158,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of FMC during the 4th quarter worth approximately $134,358,000. American Century Companies Inc. raised its holdings in shares of FMC by 37.1% in the 4th quarter. American Century Companies Inc. now owns 2,890,516 shares of the basic materials company’s stock worth $317,638,000 after purchasing an additional 781,663 shares during the period. BlackRock Inc. lifted its stake in FMC by 6.7% in the first 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 during the last quarter. Finally, Phoenix Holdings Ltd. bought a new position in FMC during the fourth quarter valued at $67,306,000. 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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