FMC (NYSE:FMC) Given “Outperform” Rating at Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of FMC (NYSE:FMC) in a research note issued to investors on Friday, Benzinga reports. They currently have a $61.00 price target on the basic materials company’s stock.

A number of other equities research analysts have also recently issued reports on the stock. Bank of America reissued a neutral rating and issued a $63.00 target price on shares of FMC in a research report on Tuesday, October 24th. Wells Fargo & Company dropped their price target on FMC from $99.00 to $73.00 and set an equal weight rating for the company in a research note on Monday, October 23rd. Mizuho dropped their price target on FMC from $122.00 to $98.00 and set a buy rating for the company in a research note on Tuesday, October 10th. Credit Suisse Group raised FMC from an underperform rating to a neutral rating and set a $101.00 price target for the company in a research note on Friday, August 4th. Finally, Redburn Atlantic reaffirmed a neutral rating and issued a $71.00 price target on shares of FMC in a research note on Monday, September 25th. Nine analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $88.94.

FMC Trading Up 0.1 %

Shares of FMC stock opened at $53.71 on Friday. The firm has a 50-day moving average of $61.92 and a 200-day moving average of $85.53. The stock has a market cap of $6.70 billion, a PE ratio of 13.67, a PEG ratio of 1.79 and a beta of 0.90. FMC has a 52-week low of $49.49 and a 52-week high of $134.38. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.96 and a current ratio of 1.54.

FMC (NYSE:FMC) last announced its earnings results on Tuesday, October 31st. The basic materials company reported $0.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.01). The business had revenue of $981.90 million during the quarter, compared to the consensus estimate of $1.01 billion. FMC had a net margin of 10.01% and a return on equity of 18.84%. The company’s revenue was down 28.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.23 EPS. As a group, sell-side analysts forecast that FMC will post 3.81 EPS for the current year.

Insiders Place Their Bets

In other FMC news, EVP Ronaldo Pereira bought 2,000 shares of the stock in a transaction on Wednesday, September 13th. The stock was purchased at an average price of $75.59 per share, with a total value of $151,180.00. Following the completion of the purchase, the executive vice president now owns 21,478 shares in the company, valued at $1,623,522.02. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Nicholas Pfeiffer acquired 992 shares of the stock in a transaction dated Wednesday, September 13th. The stock was bought at an average price of $75.62 per share, with a total value of $75,015.04. Following the completion of the purchase, the insider now directly owns 13,056 shares of the company’s stock, valued at approximately $987,294.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ronaldo Pereira acquired 2,000 shares of the stock in a transaction dated Wednesday, September 13th. The stock was purchased at an average cost of $75.59 per share, with a total value of $151,180.00. Following the purchase, the executive vice president now directly owns 21,478 shares of the company’s stock, valued at $1,623,522.02. The disclosure for this purchase can be found here. Insiders own 0.85% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Steward Partners Investment Advisory LLC increased its stake in shares of FMC by 68.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 228 shares of the basic materials company’s stock valued at $28,000 after buying an additional 93 shares during the period. Orion Capital Management LLC bought a new stake in FMC in the first quarter valued at approximately $40,000. V Square Quantitative Management LLC bought a new stake in FMC in the second quarter valued at approximately $36,000. ZRC Wealth Management LLC bought a new stake in FMC in the first quarter valued at approximately $43,000. Finally, Parkside Financial Bank & Trust boosted its holdings in FMC by 99.4% in the first quarter. Parkside Financial Bank & Trust now owns 351 shares of the basic materials company’s stock valued at $47,000 after acquiring an additional 175 shares during the last quarter. Institutional investors and hedge funds own 86.91% of the company’s stock.

FMC Company Profile

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.