FMC Corporation (FMC) To Go Ex-Dividend on September 28th
FMC Corporation (NYSE:FMC) announced a quarterly dividend on Friday, July 21st, RTT News reports. Shareholders of record on Friday, September 29th will be given a dividend of 0.165 per share by the basic materials company on Thursday, October 19th. This represents a $0.66 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend is Thursday, September 28th.
FMC Corporation has decreased its dividend by an average of 2.9% per year over the last three years and has raised its dividend every year for the last 6 years. FMC Corporation has a payout ratio of 27.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect FMC Corporation to earn $4.97 per share next year, which means the company should continue to be able to cover its $0.66 annual dividend with an expected future payout ratio of 13.3%.
Shares of FMC Corporation (FMC) opened at 89.95 on Friday. FMC Corporation has a 1-year low of $45.77 and a 1-year high of $92.40. The firm has a 50-day moving average price of $85.49 and a 200 day moving average price of $75.38. The company has a market cap of $12.06 billion, a price-to-earnings ratio of 266.91 and a beta of 1.60.
FMC Corporation (NYSE:FMC) last posted its earnings results on Tuesday, August 1st. The basic materials company reported $0.48 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.01. The firm had revenue of $656.80 million for the quarter, compared to analysts’ expectations of $614.01 million. FMC Corporation had a net margin of 1.58% and a return on equity of 16.51%. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.46 EPS. On average, analysts predict that FMC Corporation will post $2.44 EPS for the current fiscal year.
In related news, VP Andrea E. Utecht sold 14,174 shares of the company’s stock in a transaction 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 completion of 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 can be accessed through this hyperlink. 1.10% of the stock is currently owned by insiders.
FMC has been the topic of a number of research reports. Jefferies Group LLC lifted their price target on shares of FMC Corporation from $84.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, July 13th. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $83.00 price target on shares of FMC Corporation in a report on Wednesday, July 12th. Zacks Investment Research raised shares of FMC Corporation from a “hold” rating to a “buy” rating and set a $84.00 price target on the stock in a report on Monday, July 10th. Credit Suisse Group set a $85.00 price target on shares of FMC Corporation and gave the stock a “buy” rating in a report on Monday, June 26th. Finally, BidaskClub cut shares of FMC Corporation from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company. FMC Corporation has a consensus rating of “Buy” and a consensus target price of $85.04.
FMC Corporation Company Profile
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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