A number of other research analysts have also issued reports on FMC. ValuEngine lowered FMC from a hold rating to a sell rating in a report on Wednesday, October 17th. Citigroup initiated coverage on FMC in a report on Monday, November 5th. They set a buy rating and a $92.00 target price on the stock. Credit Suisse Group initiated coverage on FMC in a report on Monday, November 5th. They set an outperform rating and a $103.00 target price on the stock. Finally, Buckingham Research initiated coverage on FMC in a report on Wednesday, November 14th. They set a buy rating and a $106.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The stock has an average rating of Buy and an average price target of $102.08.
Shares of FMC opened at $80.08 on Wednesday. The firm has a market cap of $11.11 billion, a PE ratio of 29.55, a price-to-earnings-growth ratio of 0.89 and a beta of 1.63. The company has a current ratio of 1.54, a quick ratio of 1.10 and a debt-to-equity ratio of 0.84. FMC has a one year low of $72.73 and a one year high of $98.70.
The company also recently announced a quarterly dividend, which will be paid on Thursday, January 17th. Investors of record on Friday, December 28th will be issued a dividend of $0.40 per share. This is a positive change from FMC’s previous quarterly dividend of $0.17. This represents a $1.60 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date is Thursday, December 27th. FMC’s payout ratio is presently 24.35%.
FMC declared that its board has initiated a share repurchase program on Monday, December 3rd that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the basic materials company to repurchase up to 9% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
A number of large investors have recently added to or reduced their stakes in the stock. SRS Capital Advisors Inc. acquired a new position in shares of FMC in the 3rd quarter valued at $125,000. Piedmont Investment Advisors LLC acquired a new position in shares of FMC in the 2nd quarter valued at $139,000. Moneta Group Investment Advisors LLC acquired a new position in shares of FMC in the 2nd quarter valued at $157,000. Capital Guardian Trust Co. acquired a new position in shares of FMC in the 3rd quarter valued at $174,000. Finally, CSat Investment Advisory L.P. acquired a new position in shares of FMC in the 2nd quarter valued at $193,000. 90.07% of the stock is currently owned by hedge funds and other institutional investors.
FMC Company Profile
FMC Corporation, a diversified chemical company, provides solutions, applications, and products for the agricultural, consumer, and industrial markets worldwide. The company operates in two segments, FMC Agricultural Solutions and FMC Lithium. The FMC Agricultural Solutions segment develops, manufactures, markets, and sells crop protection chemicals, including insecticides, herbicides, and fungicides that 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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