FMC (NYSE:FMC) Upgraded to “Buy” by Redburn Partners

FMC (NYSE:FMC – Get Rating) was upgraded by investment analysts at Redburn Partners from a “neutral” rating to a “buy” rating in a note issued to investors on Friday, Marketbeat.com reports. The brokerage currently has a $155.00 price objective on the basic materials company’s stock. Redburn Partners’ price target indicates a potential upside of 33.54% from the stock’s current price.

FMC has been the topic of a number of other reports. StockNews.com started coverage on shares of FMC in a report on Thursday. They set a “buy” rating on the stock. Credit Suisse Group increased their target price on shares of FMC from $112.00 to $120.00 and gave the stock an “underperform” rating in a report on Wednesday, February 8th. Morgan Stanley upgraded shares of FMC from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $125.00 to $145.00 in a report on Tuesday, January 10th. The Goldman Sachs Group raised their price objective on shares of FMC from $155.00 to $159.00 and gave the company a “buy” rating in a report on Tuesday, February 14th. Finally, Royal Bank of Canada raised their price objective on shares of FMC from $139.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, February 10th. One research analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $144.08.

FMC Stock Performance

Shares of FMC stock opened at $116.07 on Friday. The firm’s 50 day moving average price is $127.42 and its 200-day moving average price is $121.98. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.00 and a current ratio of 1.43. FMC has a one year low of $98.24 and a one year high of $140.99. The firm has a market cap of $14.52 billion, a P/E ratio of 19.94, a P/E/G ratio of 1.46 and a beta of 0.84.

FMC (NYSE:FMC – Get Rating) last issued its quarterly earnings data on Wednesday, February 8th. The basic materials company reported $2.37 EPS for the quarter, topping the consensus estimate of $2.32 by $0.05. The firm had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.53 billion. FMC had a net margin of 12.69% and a return on equity of 29.29%. The business’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.16 EPS. As a group, equities research analysts predict that FMC will post 7.92 EPS for the current year.

Insider Activity at FMC

In other FMC news, insider Nicholas Pfeiffer sold 4,421 shares of the firm’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $129.70, for a total transaction of $573,403.70. Following the transaction, the insider now directly owns 12,064 shares of the company’s stock, valued at approximately $1,564,700.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other FMC news, CFO Andrew D. Sandifer sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $127.77, for a total transaction of $638,850.00. Following the completion of the sale, the chief financial officer now directly owns 39,061 shares in the company, valued at $4,990,823.97. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Nicholas Pfeiffer sold 4,421 shares of the company’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $129.70, for a total transaction of $573,403.70. Following the completion of the sale, the insider now directly owns 12,064 shares in the company, valued at $1,564,700.80. The disclosure for this sale can be found here. Insiders have sold 11,376 shares of company stock valued at $1,465,016 in the last ninety days. Insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On FMC

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Raymond James Financial Services Advisors Inc. increased its holdings in FMC by 9.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 10,326 shares of the basic materials company’s stock worth $1,359,000 after buying an additional 908 shares during the last quarter. Acadian Asset Management LLC bought a new position in FMC in the first quarter worth $191,000. Cibc World Market Inc. bought a new position in FMC in the first quarter worth $224,000. Prudential PLC bought a new position in shares of FMC during the first quarter valued at $383,000. Finally, National Pension Service lifted its holdings in shares of FMC by 872,245.0% during the first quarter. National Pension Service now owns 174,469 shares of the basic materials company’s stock valued at $22,955,000 after acquiring an additional 174,449 shares during the period. Institutional investors own 88.28% of the company’s stock.

FMC Company Profile

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FMC Corp. is an agricultural sciences company, which engages in the provision of solutions to growers and development of pipeline in crop protection, plant health, precision agriculture, and professional pest, and turf management. It offers insect control products under the Rynaxypyr and Cyazypyr brands, herbicides under the Authority, Boral, Centium, Command, and Gamit brands, insecticides under the Talstar and Hero brands, flutriafol-based fungicides, and bionematicides under the Quartzo and Presence brands.