FMC (NYSE:FMC) Given New $100.00 Price Target at Morgan Stanley

FMC (NYSE:FMC) had its price target lowered by Morgan Stanley from $110.00 to $100.00 in a report released on Monday morning, Marketbeat reports. The brokerage currently has an overweight rating on the basic materials company’s stock.

Several other equities research analysts also recently commented on the stock. Loop Capital decreased their target price on shares of FMC from $148.00 to $118.00 in a research report on Tuesday, July 11th. Wells Fargo & Company lowered FMC from an overweight rating to an equal weight rating and decreased their price objective for the stock from $142.00 to $102.00 in a report on Monday, July 24th. Mizuho dropped their target price on FMC from $127.00 to $122.00 and set a buy rating on the stock in a report on Friday, August 4th. Bank of America decreased their price target on FMC from $139.00 to $122.00 in a report on Wednesday, July 12th. Finally, BMO Capital Markets dropped their price objective on FMC from $145.00 to $120.00 in a research note on Tuesday, July 11th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $118.29.

FMC Stock Up 0.4 %

FMC stock opened at $75.61 on Monday. The stock’s 50 day simple moving average is $89.31 and its 200 day simple moving average is $105.77. The company has a market cap of $9.43 billion, a P/E ratio of 15.40, a price-to-earnings-growth ratio of 1.24 and a beta of 0.82. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.96 and a current ratio of 1.44. FMC has a fifty-two week low of $73.00 and a fifty-two week high of $134.38.

FMC (NYSE:FMC) last issued its earnings results on Wednesday, August 2nd. The basic materials company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.09). FMC had a return on equity of 21.97% and a net margin of 11.60%. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the previous year, the company earned $1.93 earnings per share. FMC’s revenue for the quarter was down 30.1% compared to the same quarter last year. On average, research analysts expect that FMC will post 6.15 earnings per share for the current fiscal year.

FMC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 19th. Shareholders of record on Friday, September 29th will be issued a dividend of $0.58 per share. This represents a $2.32 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend is Thursday, September 28th. FMC’s dividend payout ratio (DPR) is 47.25%.

Institutional Trading of FMC

Large investors have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. grew its stake in shares of FMC by 9.6% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 10,326 shares of the basic materials company’s stock worth $1,359,000 after acquiring an additional 908 shares during the period. Acadian Asset Management LLC bought a new position in FMC during the first quarter worth about $191,000. Cibc World Market Inc. purchased a new position in shares of FMC in the first quarter worth about $224,000. Prudential PLC bought a new stake in shares of FMC in the first quarter valued at approximately $383,000. Finally, National Pension Service lifted its stake in shares of FMC by 872,245.0% during the 1st quarter. National Pension Service now owns 174,469 shares of the basic materials company’s stock valued at $22,955,000 after buying an additional 174,449 shares in the last quarter. 86.91% of the stock is owned by hedge funds and other institutional investors.

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 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.