Zacks Investment Research upgraded shares of FMC (NYSE:FMC) from a hold rating to a buy rating in a research report report published on Monday. They currently have $101.00 price target on the basic materials company’s stock.
According to Zacks, “FMC Corp. has outperformed the industry it belongs to over a year. The company is seeing strong demand in its Lithium unit and is expanding production capacity to meet growing demand for electric vehicles. The acquisition of a major portion of DuPont's Crop Protection business has also provided a significant growth platform for the company's Agricultural Solutions unit. The company should also gain from its efforts to expand product portfolio.”
Other equities analysts have also recently issued research reports about the company. Jefferies Group reiterated a buy rating and issued a $100.00 price objective on shares of FMC in a research note on Friday, September 15th. Loop Capital set a $106.00 price objective on FMC and gave the company a buy rating in a research note on Monday, December 11th. BMO Capital Markets lifted their price objective on FMC from $80.00 to $90.00 and gave the company a market perform rating in a research note on Wednesday, November 8th. They noted that the move was a valuation call. Bank of America lifted their price objective on FMC from $103.00 to $105.00 and gave the company a buy rating in a research note on Wednesday, November 8th. Finally, Goldman Sachs Group assumed coverage on FMC in a research note on Monday, December 4th. They issued a neutral rating and a $98.00 price objective for the company. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $92.70.
FMC (NYSE:FMC) last announced its quarterly earnings data on Monday, November 6th. The basic materials company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.07. The business had revenue of $646.20 million during the quarter, compared to analysts’ expectations of $686.21 million. FMC had a return on equity of 16.77% and a net margin of 0.78%. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.67 EPS. sell-side analysts expect that FMC will post 2.65 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 18th. Investors of record on Friday, December 29th will be paid a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 0.69%. The ex-dividend date of this dividend is Thursday, December 28th. FMC’s payout ratio is 388.24%.
In related news, insider Nicholas Pfeiffer sold 375 shares of the business’s stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $90.33, for a total transaction of $33,873.75. Following the completion of the sale, the insider now owns 6,856 shares in the company, valued at $619,302.48. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.10% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Schroder Investment Management Group lifted its stake in FMC by 692.7% during the second quarter. Schroder Investment Management Group now owns 32,500 shares of the basic materials company’s stock worth $2,384,000 after purchasing an additional 28,400 shares during the last quarter. Oakbrook Investments LLC lifted its stake in FMC by 27.9% during the third quarter. Oakbrook Investments LLC now owns 13,290 shares of the basic materials company’s stock worth $1,187,000 after purchasing an additional 2,900 shares during the last quarter. Nationwide Fund Advisors lifted its stake in FMC by 12.0% in the third quarter. Nationwide Fund Advisors now owns 278,929 shares of the basic materials company’s stock valued at $24,911,000 after buying an additional 29,858 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in FMC by 28.7% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,815 shares of the basic materials company’s stock valued at $1,145,000 after buying an additional 2,860 shares during the last quarter. Finally, Dorsey Wright & Associates purchased a new stake in FMC in the second quarter valued at approximately $1,667,000. Hedge funds and other institutional investors own 89.28% of the company’s stock.
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FMC 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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