KeyCorp Increases FMC (NYSE:FMC) Price Target to $79.00

FMC (NYSE:FMC) had its target price lifted by stock analysts at KeyCorp from $76.00 to $79.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the basic materials company’s stock. KeyCorp’s price objective would indicate a potential upside of 31.31% from the stock’s current price.

Several other brokerages also recently weighed in on FMC. Bank of America downgraded FMC from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $60.00 to $57.00 in a research note on Tuesday, January 16th. Wolfe Research initiated coverage on FMC in a research note on Friday, March 1st. They issued a “peer perform” rating for the company. BMO Capital Markets reduced their price objective on FMC from $63.00 to $61.00 and set a “market perform” rating for the company in a research note on Wednesday, February 7th. BNP Paribas downgraded FMC from an “outperform” rating to a “neutral” rating and set a $56.00 price objective for the company. in a research note on Wednesday, February 7th. Finally, Mizuho reduced their price objective on FMC from $59.00 to $55.00 and set a “neutral” rating for the company in a research note on Tuesday, February 6th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $71.75.

FMC Trading Up 2.4 %

Shares of NYSE:FMC opened at $60.17 on Tuesday. FMC has a 12-month low of $49.49 and a 12-month high of $125.20. The company has a market capitalization of $7.51 billion, a PE ratio of 5.71, a PEG ratio of 1.89 and a beta of 0.87. The business has a 50 day moving average of $58.47 and a two-hundred day moving average of $58.66. The company has a current ratio of 1.52, a quick ratio of 1.01 and a debt-to-equity ratio of 0.68.

FMC (NYSE:FMC) last announced its quarterly earnings results on Tuesday, February 6th. The basic materials company reported $1.07 earnings per share (EPS) 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 company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same period in the previous year, the firm posted $2.37 earnings per share. As a group, analysts forecast that FMC will post 3.88 EPS for the current year.

Insider Activity

In related news, CFO Andrew D. Sandifer acquired 2,150 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was acquired at an average price of $59.22 per share, for a total transaction of $127,323.00. Following the purchase, the chief financial officer now owns 50,088 shares of the company’s stock, valued at approximately $2,966,211.36. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.81% of the company’s stock.

Hedge Funds Weigh In On FMC

Several hedge funds and other institutional investors have recently made changes to their positions in FMC. CWM LLC raised its position in shares of FMC by 5.9% during the 1st quarter. CWM LLC now owns 9,424 shares of the basic materials company’s stock worth $600,000 after acquiring an additional 525 shares in the last quarter. Reinhart Partners LLC. increased its position in FMC by 3.1% during the first quarter. Reinhart Partners LLC. now owns 123,674 shares of the basic materials company’s stock worth $7,878,000 after buying an additional 3,742 shares during the period. Vanguard Group Inc. increased its position in FMC by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 14,521,787 shares of the basic materials company’s stock worth $915,599,000 after buying an additional 176,978 shares during the period. Wahed Invest LLC grew its stake in shares of FMC by 9.5% in the 4th quarter. Wahed Invest LLC now owns 2,131 shares of the basic materials company’s stock valued at $134,000 after purchasing an additional 184 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of FMC by 15.3% in the 4th quarter. Wellington Management Group LLP now owns 12,547,766 shares of the basic materials company’s stock valued at $791,137,000 after purchasing an additional 1,666,096 shares during the last quarter. Hedge funds and other institutional investors own 91.86% 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 includes 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.