BidaskClub Upgrades FMC Corporation (NYSE:FMC) to “Buy”

BidaskClub upgraded shares of FMC Corporation (NYSE:FMC) from a hold rating to a buy rating in a report released on Saturday, August 5th.

Several other equities analysts have also issued reports on FMC. Credit Suisse Group set a $93.00 price target on FMC Corporation and gave the stock a buy rating in a research report on Thursday, August 3rd. They noted that the move was a valuation call. BMO Capital Markets lifted their price objective on FMC Corporation from $75.00 to $80.00 and gave the stock a market perform rating in a research report on Thursday, August 3rd. Piper Jaffray Companies reiterated a hold rating and issued a $85.00 price objective on shares of FMC Corporation in a research report on Thursday, August 3rd. Jefferies Group LLC reiterated a buy rating on shares of FMC Corporation in a research report on Wednesday, May 24th. Finally, Nomura upgraded FMC Corporation from a neutral rating to a buy rating and lifted their price target for the company from $78.00 to $97.00 in a research report on Friday, August 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. The stock has an average rating of Buy and a consensus price target of $83.40.

Shares of FMC Corporation (FMC) traded down 0.18% during trading on Friday, hitting $82.63. 885,445 shares of the stock were exchanged. The firm’s 50-day moving average is $78.74 and its 200 day moving average is $70.89. FMC Corporation has a 1-year low of $44.40 and a 1-year high of $85.17. The company has a market cap of $11.08 billion, a P/E ratio of 245.19 and a beta of 1.62.

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 consensus estimate of $0.47 by $0.01. FMC Corporation had a return on equity of 16.51% and a net margin of 1.58%. The business had revenue of $656.80 million for the quarter, compared to analyst estimates of $614.01 million. During the same period last year, the company earned $0.46 EPS. FMC Corporation’s revenue for the quarter was up 6.7% compared to the same quarter last year. Equities analysts forecast that FMC Corporation will post $2.43 earnings per share for the current fiscal year.

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The business also recently declared 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 annualized dividend and a yield of 0.80%. The ex-dividend date is Thursday, September 28th. FMC Corporation’s dividend payout ratio is presently 188.58%.

In related news, insider Mark Douglas sold 12,697 shares of the business’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $75.82, for a total value of $962,686.54. Following the sale, the insider now directly owns 73,690 shares in the company, valued at $5,587,175.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in FMC. Contravisory Investment Management Inc. boosted its position in shares of FMC Corporation by 163.4% in the first quarter. Contravisory Investment Management Inc. now owns 1,520 shares of the basic materials company’s stock valued at $106,000 after buying an additional 943 shares during the period. Acrospire Investment Management LLC boosted its stake in shares of FMC Corporation by 522.9% in the first quarter. Acrospire Investment Management LLC now owns 1,906 shares of the basic materials company’s stock valued at $133,000 after buying an additional 1,600 shares during the period. Aviance Capital Management LLC bought a new stake in shares of FMC Corporation during the first quarter valued at about $200,000. United Capital Financial Advisers LLC bought a new stake in shares of FMC Corporation during the first quarter valued at about $202,000. Finally, Conning Inc. bought a new stake in shares of FMC Corporation during the first quarter valued at about $220,000. 93.79% 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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