FMC (NYSE:FMC – Free Report) had its price objective lowered by BMO Capital Markets from $63.00 to $61.00 in a research note published on Wednesday morning, Benzinga reports. BMO Capital Markets currently has a market perform rating on the basic materials company’s stock.
A number of other analysts have also recently weighed in on FMC. BNP Paribas cut FMC from an outperform rating to a neutral rating and set a $56.00 price target on the stock. in a research note on Wednesday. Wells Fargo & Company cut their price target on FMC from $99.00 to $73.00 and set an equal weight rating on the stock in a research note on Monday, October 23rd. KeyCorp cut their price target on FMC from $80.00 to $76.00 and set an overweight rating on the stock in a research note on Wednesday. Roth Mkm began coverage on FMC in a research report on Thursday, January 4th. They set a buy rating and a $74.00 target price on the stock. Finally, The Goldman Sachs Group reiterated a neutral rating and set a $59.00 target price (down previously from $135.00) on shares of FMC in a research report on Tuesday, October 24th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $78.35.
FMC Stock Up 2.2 %
FMC (NYSE:FMC – Get Free Report) last posted its quarterly earnings results on Monday, February 5th. The basic materials company reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.01). FMC had a net margin of 29.45% and a return on equity of 12.98%. The business had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the prior year, the business earned $2.37 earnings per share. As a group, equities analysts predict that FMC will post 4.17 EPS for the current fiscal year.
FMC Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Thursday, January 18th. Investors of record on Friday, December 29th were issued a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date was Thursday, December 28th. FMC’s dividend payout ratio is currently 22.03%.
Insider Buying and Selling
In related news, Director Robert C. Pallash purchased 3,845 shares of the stock in a transaction that occurred on Monday, November 27th. The shares were purchased at an average price of $52.48 per share, with a total value of $201,785.60. Following the completion of the acquisition, the director now directly owns 47,871 shares in the company, valued at approximately $2,512,270.08. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.85% of the company’s stock.
Institutional Investors Weigh In On FMC
A number of institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in FMC by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 14,067,888 shares of the basic materials company’s stock valued at $1,850,913,000 after purchasing an additional 258,552 shares in the last quarter. BlackRock Inc. increased its position in shares of FMC by 2.0% in the first quarter. BlackRock Inc. now owns 11,637,405 shares of the basic materials company’s stock valued at $1,421,276,000 after buying an additional 228,436 shares in the last quarter. Wellington Management Group LLP increased its position in shares of FMC by 17.7% in the third quarter. Wellington Management Group LLP now owns 10,881,670 shares of the basic materials company’s stock valued at $728,745,000 after buying an additional 1,634,535 shares in the last quarter. State Street Corp increased its position in shares of FMC by 1.2% in the second quarter. State Street Corp now owns 5,753,525 shares of the basic materials company’s stock valued at $603,597,000 after buying an additional 70,005 shares in the last quarter. Finally, Boston Partners increased its position in shares of FMC by 12.6% in the second quarter. Boston Partners now owns 2,958,032 shares of the basic materials company’s stock valued at $308,535,000 after buying an additional 330,228 shares in the last quarter. Hedge funds and other institutional investors own 86.91% of the company’s stock.
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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