FMC Corp. (FMC) Stock Price Down 1.3%
FMC Corp. (NYSE:FMC)’s share price dropped 1.3% during trading on Wednesday . The company traded as low as $43.26 and last traded at $44.13, with a volume of 1,252,936 shares trading hands. The stock had previously closed at $44.70.
FMC has been the topic of a number of recent analyst reports. Piper Jaffray Cos. reissued a “sell” rating and issued a $35.00 price target (up previously from $32.00) on shares of FMC Corp. in a research report on Wednesday, May 4th. BMO Capital Markets initiated coverage on shares of FMC Corp. in a research report on Thursday, March 17th. They issued a “market perform” rating and a $40.00 price target on the stock. Credit Suisse Group AG lowered shares of FMC Corp. from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $45.00 to $43.00 in a research report on Thursday, April 21st. Zacks Investment Research raised shares of FMC Corp. from a “hold” rating to a “buy” rating and set a $54.00 price target on the stock in a research report on Wednesday, June 15th. Finally, Goldman Sachs Group Inc. lifted their price target on shares of FMC Corp. from $33.00 to $37.00 in a research report on Tuesday, April 12th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. FMC Corp. presently has an average rating of “Hold” and an average target price of $43.53.
The company’s 50 day moving average is $47.55 and its 200 day moving average is $41.35. The stock has a market cap of $5.91 billion and a P/E ratio of 10.11.
FMC Corp. (NYSE:FMC) last announced its quarterly earnings results on Monday, May 2nd. The company reported $0.58 EPS for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.05. The firm had revenue of $798.80 million for the quarter, compared to analyst estimates of $779.12 million. During the same period in the previous year, the business posted $0.62 earnings per share. The business’s revenue for the quarter was up 21.1% compared to the same quarter last year. Analysts expect that FMC Corp. will post $2.68 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 21st. Stockholders of record on Thursday, June 30th will be given a dividend of $0.165 per share. The ex-dividend date is Tuesday, June 28th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.49%.
In other news, VP Andrea E. Utecht sold 14,388 shares of the firm’s stock in a transaction dated Monday, June 13th. The stock was sold at an average price of $48.72, for a total transaction of $700,983.36. Following the completion of the transaction, the vice president now directly owns 126,738 shares in the company, valued at $6,174,675.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Several institutional investors recently modified their holdings of FMC. ING Groep bought a new position in shares of FMC Corp. during the third quarter worth about $1,095,000. California State Teachers Retirement System increased its position in shares of FMC Corp. by 1.5% in the fourth quarter. California State Teachers Retirement System now owns 249,632 shares of the company’s stock worth $9,768,000 after buying an additional 3,801 shares during the period. Edge Asset Management Inc. increased its position in shares of FMC Corp. by 32.5% in the fourth quarter. Edge Asset Management Inc. now owns 168,320 shares of the company’s stock worth $6,586,000 after buying an additional 41,284 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of FMC Corp. by 22.1% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 6,305,670 shares of the company’s stock worth $246,741,000 after buying an additional 1,142,607 shares during the period. Finally, Swiss National Bank increased its position in shares of FMC Corp. by 1.4% in the fourth quarter. Swiss National Bank now owns 241,736 shares of the company’s stock worth $9,459,000 after buying an additional 3,300 shares during the period.
FMC Corporation is a diversified chemical company serving agricultural, consumer and industrial markets. The Company operates through three business segments: FMC Agricultural Solutions, FMC Health and Nutrition, and FMC Lithium. The Company’s FMC Agricultural Solutions segment develops, markets and sells over three classes of crop protection chemicals, including insecticides, herbicides and fungicides.
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