Loop Capital assumed coverage on shares of FMC Corporation (NYSE:FMC) in a report released on Thursday morning, Marketbeat reports. The firm issued a buy rating and a $102.00 target price on the basic materials company’s stock.
Several other brokerages also recently commented on FMC. Royal Bank Of Canada restated a buy rating and set a $83.00 price objective on shares of FMC Corporation in a research report on Monday, June 5th. Credit Suisse Group set a $85.00 target price on FMC Corporation and gave the company a buy rating in a report on Monday, June 26th. Jefferies Group LLC reaffirmed a buy rating and issued a $84.00 target price on shares of FMC Corporation in a report on Thursday, July 6th. Zacks Investment Research upgraded FMC Corporation from a hold rating to a buy rating and set a $84.00 price target on the stock in a research note on Monday, July 10th. Finally, Seaport Global Securities lowered FMC Corporation from a buy rating to a neutral rating and decreased their price target for the company from $82.00 to $80.00 in a research note on Tuesday, July 18th. One analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company. The stock currently has a consensus rating of Buy and an average price target of $85.93.
FMC Corporation (FMC) opened at 89.31 on Thursday. FMC Corporation has a 1-year low of $45.77 and a 1-year high of $93.44. The firm has a 50-day moving average price of $85.49 and a 200-day moving average price of $75.38. The firm has a market cap of $11.98 billion, a price-to-earnings ratio of 265.01 and a beta of 1.61.
FMC Corporation (NYSE:FMC) last posted its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.01. The business had revenue of $656.80 million for the quarter, compared to analyst estimates of $614.01 million. FMC Corporation had a net margin of 1.58% and a return on equity of 16.51%. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. During the same quarter last year, the business posted $0.46 EPS. On average, analysts expect that FMC Corporation will post $2.44 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 19th. Shareholders of record on Friday, September 29th will be issued a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend is Thursday, September 28th. FMC Corporation’s payout ratio is 188.58%.
In other news, VP Andrea E. Utecht sold 14,174 shares of the firm’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $84.00, for a total transaction of $1,190,616.00. Following the completion of the transaction, the vice president now owns 131,639 shares of the company’s stock, valued at $11,057,676. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of FMC. Mutual of America Capital Management LLC increased its holdings in FMC Corporation by 0.5% in the first quarter. Mutual of America Capital Management LLC now owns 16,111 shares of the basic materials company’s stock valued at $1,121,000 after purchasing an additional 88 shares during the period. Meeder Asset Management Inc. raised its position in FMC Corporation by 0.7% during the 1st quarter. Meeder Asset Management Inc. now owns 13,542 shares of the basic materials company’s stock worth $942,000 after purchasing an additional 97 shares during the last quarter. Advantus Capital Management Inc raised its position in FMC Corporation by 1.2% during the 1st quarter. Advantus Capital Management Inc now owns 13,345 shares of the basic materials company’s stock worth $929,000 after purchasing an additional 158 shares during the last quarter. Mason Street Advisors LLC raised its position in FMC Corporation by 0.9% during the 1st quarter. Mason Street Advisors LLC now owns 18,475 shares of the basic materials company’s stock worth $1,286,000 after purchasing an additional 166 shares during the last quarter. Finally, RiverPoint Capital Management LLC raised its position in FMC Corporation by 4.4% during the 1st quarter. RiverPoint Capital Management LLC now owns 4,825 shares of the basic materials company’s stock worth $336,000 after purchasing an additional 205 shares during the last quarter. 90.39% of the stock is currently owned by institutional investors.
FMC Corporation Company Profile
FMC Corporation is a diversified chemical company serving agricultural, consumer and industrial markets. The Company operates in three business segments: FMC Agricultural Solutions, FMC Health and Nutrition, and FMC Lithium. As of December 31, 2016, the FMC Agricultural Solutions segment developed, marketed and sold three classes of crop protection chemicals: insecticides, herbicides and fungicides.
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