Zacks Investment Research downgraded shares of FMC (NYSE:FMC) from a strong-buy rating to a hold rating in a research report sent to investors on Thursday, January 4th.
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. However, FMC Corp. is faced with challenging agriculture market fundamentals, especially in Latin America. It is also exposed to headwind from weak prices in its agriculture unit. The company’s stretched valuation is another concern.”
Other research analysts have also recently issued research reports about the stock. Bank of America raised their price target on shares of FMC from $103.00 to $105.00 and gave the stock a buy rating in a research note on Wednesday, November 8th. KeyCorp restated a buy rating and set a $98.00 price target on shares of FMC in a research note on Wednesday, October 4th. Loop Capital initiated coverage on shares of FMC in a research note on Thursday, September 28th. They set a buy rating and a $102.00 price target for the company. Jefferies Group reaffirmed a buy rating and set a $100.00 price objective on shares of FMC in a report on Friday, September 15th. Finally, Nomura raised their price objective on shares of FMC from $97.00 to $106.00 and gave the stock a buy rating in a report on Wednesday, November 8th. Eight equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. FMC currently has an average rating of Buy and a consensus price target of $94.80.
FMC (FMC) remained flat at $$97.88 during midday trading on Thursday. 679,403 shares of the stock traded hands, compared to its average volume of 991,191. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.19 and a quick ratio of 1.81. FMC has a one year low of $56.53 and a one year high of $98.70. The firm has a market cap of $13,140.00, a P/E ratio of 67.04, a PEG ratio of 1.63 and a beta of 1.61.
FMC (NYSE:FMC) last released its earnings results on Monday, November 6th. The basic materials company reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ 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 net margin of 0.78% and a return on equity of 16.77%. The firm’s revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the company earned $0.67 earnings per share. research analysts predict that FMC will post 2.65 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 18th. Shareholders of record on Friday, December 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 0.67%. The ex-dividend date of this dividend is Thursday, December 28th. FMC’s dividend payout ratio is presently 45.21%.
In other FMC news, insider Nicholas Pfeiffer sold 375 shares of FMC 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 sale, the insider now owns 6,856 shares of the company’s stock, valued at approximately $619,302.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in FMC. Great West Life Assurance Co. Can boosted its position in shares of FMC by 0.6% during the third quarter. Great West Life Assurance Co. Can now owns 91,917 shares of the basic materials company’s stock worth $8,077,000 after purchasing an additional 572 shares in the last quarter. Gabelli Funds LLC boosted its position in shares of FMC by 1.8% during the third quarter. Gabelli Funds LLC now owns 34,600 shares of the basic materials company’s stock worth $3,090,000 after purchasing an additional 600 shares in the last quarter. Hanseatic Management Services Inc. boosted its position in shares of FMC by 13.3% during the second quarter. Hanseatic Management Services Inc. now owns 14,350 shares of the basic materials company’s stock worth $1,048,000 after purchasing an additional 1,688 shares in the last quarter. Advisor Partners LLC bought a new position in shares of FMC during the third quarter worth $216,000. Finally, Achmea Investment Management B.V. bought a new position in shares of FMC during the third quarter worth $246,000. 89.30% of the stock is owned by hedge funds and other institutional investors.
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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