FMC Corporation’s (FMC) “Buy” Rating Reiterated at Jefferies Group LLC
Jefferies Group LLC reiterated their buy rating on shares of FMC Corporation (NYSE:FMC) in a report issued on Friday morning. They currently have a $100.00 price target on the basic materials company’s stock.
Other equities analysts have also issued reports about the stock. Nomura upgraded shares of FMC Corporation from a neutral rating to a buy rating and boosted their price target for the company from $78.00 to $97.00 in a research report on Friday, August 4th. Royal Bank Of Canada restated a buy rating and issued a $83.00 price target on shares of FMC Corporation in a research report on Wednesday, July 12th. Zacks Investment Research upgraded shares of FMC Corporation from a hold rating to a buy rating and set a $84.00 price target on the stock in a research report on Monday, July 10th. Credit Suisse Group set a $85.00 price target on shares of FMC Corporation and gave the company a buy rating in a research report on Monday, June 26th. Finally, BidaskClub lowered shares of FMC Corporation from a strong-buy rating to a buy rating in a research report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $85.04.
FMC Corporation (NYSE:FMC) opened at 91.36 on Friday. FMC Corporation has a 1-year low of $45.77 and a 1-year high of $91.87. The company’s 50 day moving average is $85.04 and its 200-day moving average is $75.14. The firm has a market cap of $12.25 billion, a price-to-earnings ratio of 271.10 and a beta of 1.60.
FMC Corporation (NYSE:FMC) last released its quarterly earnings results on Tuesday, August 1st. The basic materials company reported $0.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.01. The firm had revenue of $656.80 million for the quarter, compared to analyst estimates of $614.01 million. FMC Corporation had a net margin of 1.58% and a return on equity of 16.51%. The company’s revenue for the quarter was up 6.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.46 earnings per share. On average, analysts predict that FMC Corporation will post $2.44 EPS for the current fiscal year.
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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 issued a $0.165 dividend. The ex-dividend date is Thursday, September 28th. This represents a $0.66 annualized dividend and a yield of 0.72%. FMC Corporation’s dividend payout ratio is currently 188.58%.
In related news, VP Andrea E. Utecht sold 14,174 shares of the stock in a transaction that occurred on Tuesday, August 29th. The shares were 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 in the company, valued at $11,057,676. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in FMC. Aviance Capital Management LLC acquired a new position in FMC Corporation in the first quarter valued at approximately $200,000. United Capital Financial Advisers LLC acquired a new position in FMC Corporation in the first quarter valued at approximately $202,000. Cleararc Capital Inc. acquired a new position in FMC Corporation in the first quarter valued at approximately $226,000. Virginia Retirement Systems ET AL acquired a new position in FMC Corporation in the first quarter valued at approximately $230,000. Finally, South Texas Money Management Ltd. acquired a new position in FMC Corporation in the first quarter valued at approximately $232,000. Institutional investors and hedge funds own 90.35% 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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