FMC Corporation (FMC) Sees Strong Trading Volume
FMC Corporation (NYSE:FMC) shares saw strong trading volume on Friday . 499,787 shares were traded during mid-day trading, a decline of 51% from the previous session’s volume of 1,027,220 shares.The stock last traded at $86.68 and had previously closed at $86.22.
A number of research firms have commented on FMC. Susquehanna Bancshares Inc boosted their price objective on FMC Corporation from $86.00 to $100.00 and gave the stock a “positive” rating in a research note on Tuesday, August 8th. Bank of America Corporation raised FMC Corporation from an “underperform” rating to a “buy” rating and boosted their price objective for the stock from $66.00 to $103.00 in a research note on Thursday. Instinet raised FMC Corporation from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $78.00 to $97.00 in a research note on Wednesday, August 9th. BidaskClub raised FMC Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, August 5th. Finally, Credit Suisse Group set a $93.00 price objective on FMC Corporation and gave the stock a “buy” rating in a research note on Thursday, August 3rd. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $84.49.
The stock has a market capitalization of $11.72 billion, a P/E ratio of 259.38 and a beta of 1.60. The firm has a 50 day moving average price of $81.47 and a 200-day moving average price of $72.73.
FMC Corporation (NYSE:FMC) last released its quarterly earnings data on Tuesday, August 1st. The basic materials company reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.01. FMC Corporation had a return on equity of 16.51% and a net margin of 1.58%. The company had revenue of $656.80 million for the quarter, compared to the consensus estimate of $614.01 million. During the same quarter last year, the business posted $0.46 EPS. FMC Corporation’s revenue for the quarter was up 6.7% on a year-over-year basis. Analysts forecast that FMC Corporation will post $2.44 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 19th. Investors of record on Friday, September 29th will be given a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 0.76%. The ex-dividend date is Thursday, September 28th. FMC Corporation’s dividend payout ratio is currently 188.58%.
In related news, insider Mark Douglas sold 12,697 shares of the firm’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $75.82, for a total transaction of $962,686.54. Following the completion of the transaction, the insider now directly owns 73,690 shares of the company’s stock, valued at approximately $5,587,175.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Andrea E. Utecht sold 14,174 shares of the firm’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $84.00, for a total value of $1,190,616.00. Following the transaction, the vice president now directly owns 131,639 shares of the company’s stock, valued at $11,057,676. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Korea Investment CORP bought a new position in shares of FMC Corporation during the first quarter valued at about $988,000. Conning Inc. bought a new position in shares of FMC Corporation during the first quarter valued at about $220,000. Sumitomo Mitsui Asset Management Company LTD raised its position in shares of FMC Corporation by 13.0% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 11,461 shares of the basic materials company’s stock valued at $797,000 after buying an additional 1,323 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of FMC Corporation by 2.2% in the first quarter. Oregon Public Employees Retirement Fund now owns 13,988 shares of the basic materials company’s stock valued at $973,000 after buying an additional 300 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of FMC Corporation by 63.7% in the first quarter. Wells Fargo & Company MN now owns 784,760 shares of the basic materials company’s stock valued at $54,612,000 after buying an additional 305,273 shares in the last quarter. 90.45% of the stock is owned by institutional investors and hedge funds.
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.