FMC Corp (NYSE:FMC) announced a quarterly dividend on Tuesday, December 12th, RTT News reports. Investors of record on Friday, December 29th will be given a dividend of 0.165 per share by the basic materials company on Thursday, January 18th. This represents a $0.66 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date is Thursday, December 28th.
FMC has decreased its dividend by an average of 2.9% annually over the last three years and has raised its dividend every year for the last 6 years. FMC has a dividend payout ratio of 24.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect FMC to earn $5.34 per share next year, which means the company should continue to be able to cover its $0.66 annual dividend with an expected future payout ratio of 12.4%.
Shares of FMC (NYSE FMC) traded up $0.08 during mid-day trading on Wednesday, reaching $95.54. 490,900 shares of the company’s stock traded hands, compared to its average volume of 1,261,966. The firm has a market cap of $12,850.00, a price-to-earnings ratio of 65.44, a P/E/G ratio of 3.20 and a beta of 1.61. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.81 and a current ratio of 2.19. FMC has a 52 week low of $56.35 and a 52 week high of $96.02.
Several research analysts have recently commented on the stock. KeyCorp reaffirmed a “buy” rating and issued a $112.00 price target on shares of FMC in a report on Monday, December 4th. Loop Capital began coverage on shares of FMC in a research report on Thursday, September 28th. They issued a “buy” rating and a $102.00 price objective on the stock. BMO Capital Markets lifted their price objective on shares of FMC from $80.00 to $90.00 and gave the company a “market perform” rating in a research report on Wednesday, November 8th. They noted that the move was a valuation call. Piper Jaffray Companies set a $85.00 price objective on shares of FMC and gave the company a “hold” rating in a research report on Friday, October 6th. Finally, Stephens initiated coverage on shares of FMC in a research report on Monday, December 4th. They issued an “equal weight” rating and a $91.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $92.70.
In related news, insider Nicholas Pfeiffer sold 375 shares of the company’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $90.33, for a total transaction of $33,873.75. Following the completion of the transaction, the insider now directly owns 6,856 shares in the company, valued at approximately $619,302.48. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.10% of the stock is currently owned by insiders.
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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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