FMC Corporation (FMC) Given a $93.00 Price Target at Credit Suisse Group
Credit Suisse Group set a $93.00 price objective on FMC Corporation (NYSE:FMC) in a research report released on Thursday. The firm currently has a buy rating on the basic materials company’s stock. The analysts noted that the move was a valuation call.
Other equities analysts have also issued reports about the company. Jefferies Group LLC reaffirmed a buy rating on shares of FMC Corporation in a report on Wednesday, May 24th. Zacks Investment Research raised FMC Corporation from a hold rating to a buy rating and set a $84.00 target price for the company in a report on Tuesday, April 11th. BMO Capital Markets reaffirmed a hold rating and issued a $75.00 target price on shares of FMC Corporation in a report on Thursday, May 4th. Seaport Global Securities lowered FMC Corporation from a buy rating to a neutral rating and reduced their target price for the company from $82.00 to $80.00 in a report on Tuesday, July 18th. Finally, BidaskClub raised FMC Corporation from a buy rating to a strong-buy rating in a report on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $81.22.
FMC Corporation (FMC) traded down 0.09% on Thursday, reaching $84.27. The company’s stock had a trading volume of 455,021 shares. The firm’s 50-day moving average price is $75.56 and its 200 day moving average price is $68.92. The company has a market cap of $11.31 billion, a P/E ratio of 248.58 and a beta of 1.62. FMC Corporation has a 52-week low of $44.40 and a 52-week high of $85.10.
FMC Corporation (NYSE:FMC) last issued its quarterly earnings data on Tuesday, August 1st. The basic materials company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.47 by $0.01. The firm had revenue of $656.80 million during the quarter, compared to the consensus estimate of $614.01 million. FMC Corporation had a return on equity of 16.51% and a net margin of 1.58%. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.46 earnings per share. Equities analysts anticipate that FMC Corporation will post $2.42 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 19th. Investors of record on Friday, September 29th will be given a $0.165 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 0.78%. FMC Corporation’s dividend payout ratio (DPR) is presently 188.58%.
In other FMC Corporation news, VP Andrea E. Utecht sold 14,434 shares of the firm’s stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $74.62, for a total transaction of $1,077,065.08. Following the sale, the vice president now owns 131,899 shares in the company, valued at $9,842,303.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William Howard Powell sold 3,000 shares of the firm’s stock in a transaction dated Friday, May 12th. The shares were sold at an average price of $72.73, for a total value of $218,190.00. Following the sale, the director now owns 17,554 shares in the company, valued at approximately $1,276,702.42. The disclosure for this sale can be found here. Insiders have sold 41,489 shares of company stock worth $3,118,310 in the last 90 days. Company insiders own 1.10% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in FMC. LS Investment Advisors LLC raised its stake in FMC Corporation by 1.1% in the first quarter. LS Investment Advisors LLC now owns 6,298 shares of the basic materials company’s stock valued at $438,000 after buying an additional 67 shares in the last quarter. Mutual of America Capital Management LLC raised its stake in shares of FMC Corporation by 0.5% in the first quarter. Mutual of America Capital Management LLC now owns 16,111 shares of the basic materials company’s stock valued at $1,121,000 after buying an additional 88 shares during the period. Bank of The West raised its stake in shares of FMC Corporation by 1.8% in the first quarter. Bank of The West now owns 5,200 shares of the basic materials company’s stock valued at $362,000 after buying an additional 90 shares during the period. Meeder Asset Management Inc. raised its stake in shares of FMC Corporation by 0.7% in the first quarter. Meeder Asset Management Inc. now owns 13,542 shares of the basic materials company’s stock valued at $942,000 after buying an additional 97 shares during the period. Finally, Mn Services Vermogensbeheer B.V. raised its stake in shares of FMC Corporation by 4.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,569 shares of the basic materials company’s stock valued at $232,000 after buying an additional 141 shares during the period. Institutional investors and hedge funds own 89.97% of the company’s stock.
About FMC Corporation
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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